ZIP 38611 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 38611 in the Memphis, TN-MS-AR FMR area.

Memphis, TN-MS-AR

$1,040Efficiency

$1,0701 bedroom

$1,3402 bedrooms

$1,6403 bedrooms

$2,2004 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$1,040	$936	$1,144	$1,095
1 bedroom	$1,070	$963	$1,177	$1,191
2 bedrooms	$1,340	$1,206	$1,474	$1,301
3 bedrooms	$1,640	$1,476	$1,804	$1,717
4 bedrooms	$2,200	$1,980	$2,420	$1,981

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Marshall County, MS

$1,040Efficiency

$1,0701 bedroom

$1,3402 bedrooms

$1,6403 bedrooms

$2,2004 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$1,040	$936	$1,144	$840
1 bedroom	$1,070	$963	$1,177	$845
2 bedrooms	$1,340	$1,206	$1,474	$1,106
3 bedrooms	$1,640	$1,476	$1,804	$1,318
4 bedrooms	$2,200	$1,980	$2,420	$1,849

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Tate County, MS

$1,040Efficiency

$1,0701 bedroom

$1,3402 bedrooms

$1,6403 bedrooms

$2,2004 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$1,040	$936	$1,144	$836
1 bedroom	$1,070	$963	$1,177	$842
2 bedrooms	$1,340	$1,206	$1,474	$1,101
3 bedrooms	$1,640	$1,476	$1,804	$1,322
4 bedrooms	$2,200	$1,980	$2,420	$1,447

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Income in ZIP 38611

$59,209average adjusted gross income per tax return (2022)

$46,375average salaries and wages per return

7,940tax returns filed

27%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	32.9%
$25,000 to $50,000	26.8%
$50,000 to $75,000	15.2%
$75,000 to $100,000	8.7%
$100,000 to $200,000	13.2%
$200,000 or more	3.1%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 22.8% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 38611?

HUD's FY2027 Small Area FMRs for ZIP 38611 (Memphis, TN-MS-AR) are $1,040 efficiency, $1,070 one bedroom, $1,340 two bedrooms, $1,640 three and $2,200 four bedrooms.

What payment standard can a housing authority set in ZIP 38611?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,206 to $1,474.

How affordable is rent in ZIP 38611?

Tax returns filed from ZIP 38611 reported an average adjusted gross income of $59,209 (2022). A two-bedroom unit at the Small Area FMR costs $16,080 a year, or 27% of that income.