Average Rent in Memphis, AR
The Fair Market Rent for a 2-bedroom in Memphis, AR is $1,274 per month, based on HUD data. With a median household income of $64,743, a household would spend 23.6% of income on housing at Fair Market Rent. Rent has decreased 1.8% year over year. The national median 2BR FMR is $1,250/mo for comparison.
Fair Market Rent by Bedroom
| Size | Monthly FMR |
|---|---|
| Studio | $1,060 |
| 1 Bedroom | $1,154 |
| 2 Bedroom | $1,274 |
| 3 Bedroom | $1,683 |
| 4 Bedroom | $1,959 |
Affordability
| Metric | Value |
|---|---|
| Median Household Income | $64,743 |
| Rent Burden (2BR FMR / Income) | 23.6% |
| Income Needed for 2BR (30% rule) | $50,960/yr |