Shelby County fair market rent FY 2027Tennessee, HUD studio to 4 bedrooms
HUD's FY 2027 Fair Market Rent for a two-bedroom home in Shelby County, Tennessee is $1,301 a month, effective October 1, 2026: $1,095 for a studio, $1,191 for one bedroom, $1,717 for three and $1,981 for four. It is set for the Memphis, TN-MS-AR HUD Metro FMR Area. The FY 2026 two-bedroom FMR was $1,274 (+2.1%).
Shelby County Fair Market Rents by bedrooms
| Bedrooms | FY 2027 | FY 2026 | Change | Payment standard basic range |
|---|---|---|---|---|
| Studio | $1,095 | $1,060 | +3.3% | $985 to $1,204 |
| 1 bedroom | $1,191 | $1,154 | +3.2% | $1,071 to $1,310 |
| 2 bedrooms | $1,301 | $1,274 | +2.1% | $1,170 to $1,431 |
| 3 bedrooms | $1,717 | $1,683 | +2.0% | $1,545 to $1,888 |
| 4 bedrooms | $1,981 | $1,959 | +1.1% | $1,782 to $2,179 |
Monthly gross rent (rent plus tenant-paid utilities except telephone). FY 2027 runs October 1, 2026 to September 30, 2027. The payment standard basic range is 90 to 110 percent of the FMR (24 CFR 982.503(c)); the local housing agency sets the actual payment standard.
How Shelby County compares
Shelby County's two-bedroom FMR of $1,301 is the 23rd highest of 95 counties in Tennessee, where the county median is $1,048 and the range $995 to $1,798. Across all 3,144 US counties the median two-bedroom FMR is $1,071; Shelby County ranks 827th.
HUD sets one FMR for each metropolitan area, so Crittenden County, AR, DeSoto County, MS, Fayette County and Tipton County have the same figures as Shelby County (Memphis, TN-MS-AR HUD Metro FMR Area).
Small Area FMRs and ZIP codes
HUD also publishes Small Area FMRs by ZIP code for metropolitan areas. For the Memphis, TN-MS-AR HUD Metro FMR Area it lists 105 ZIP codes, with two-bedroom Small Area FMRs from $1,000 to $1,950. This is one of HUD's 65 designated Small Area FMR areas, where housing agencies must set voucher payment standards from the ZIP code figures.
Look up any ZIP code: fair market rent by ZIP code.
Fair market rents in nearby counties
All Tennessee counties · Fair market rents in every state
More for Shelby County
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- Shelby County property tax rateEffective property tax rate from Census survey data: median taxes paid against median home value, ranked in the state.
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- Seller net sheet and closing costsNet proceeds after the payoff, commission, transfer taxes, title premiums and recording fees.
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- Flood zone lookupThe FEMA flood zone mapped at any US address. A screening check, not an official flood zone determination.
Check a Shelby County property
HeritageDeed does not search title records in Shelby County yet; the counties it covers are listed under title search coverage, where a title report is $49 per report. For any US address, the Environmental Records Report lists Superfund, hazardous waste, leaking tank and brownfield sites nearby, with the flood zone.
Questions about Shelby County fair market rent
What is the fair market rent in Shelby County for FY 2027?
$1,095 for a studio, $1,191 for one bedroom, $1,301 for two, $1,717 for three and $1,981 for four bedrooms a month. FY 2027 runs from October 1, 2026 to September 30, 2027.
What was the fair market rent in Shelby County for FY 2026?
$1,060 for a studio, $1,154 for one bedroom, $1,274 for two, $1,683 for three and $1,959 for four bedrooms (FY 2026, October 1, 2025 to September 30, 2026).
What is the Section 8 voucher amount for a 2 bedroom in Shelby County?
The housing agency sets a payment standard, usually within the basic range of 90 to 110 percent of the FMR: $1,170 to $1,431 for two bedrooms here, or from the ZIP code's Small Area FMR, which HUD requires in this area. The voucher then pays the lower of the payment standard or the gross rent, minus the family's total tenant payment, usually 30 percent of adjusted monthly income (24 CFR 982.505 and 5.628). The local housing agency publishes its own schedule.
Does fair market rent include utilities?
Yes. HUD's rule defines Fair Market Rents as "estimates of rent plus the cost of utilities, except telephone", set at the 40th percentile of rents for standard-quality units rented by recent movers (24 CFR 888.113).
Is Shelby County's fair market rent high for Tennessee?
$1,301 for two bedrooms ranks 23rd of 95 counties in Tennessee; the state's county median is $1,048 (range $995 to $1,798) and the national county median is $1,071.
Legal references
- 24 CFR 888.113, Fair market rents for existing housing: methodology
- 24 CFR 982.503, Voucher tenancy: payment standard amount and schedule
- 24 CFR 982.505, How to calculate housing assistance payment
JSON: /api/data/fair-market-rent/tennessee/shelby-county. Fair Market Rents are HUD program figures, not an appraisal of any unit's rent.