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Memphis TN (Shelby County)
Deep dive into the Section 8 market dynamics, FY2026 FMRs, and viability calculation for Memphis TN.
Market Overview
Memphis TN is a key target market due to its favorable rent-to-price ratios and landlord-friendly state legislature. The local Public Housing Authority (PHA) manages a large volume of Housing Choice Vouchers (HCV) and frequently updates its payment standards to match market reality.
FY2026 Fair Market Rents
| Bedrooms | Monthly FMR | Annual Gross |
|---|---|---|
| 3 Bedroom | $1,711 | $20,532 |
| 4 Bedroom | $1,995 | $23,940 |
* These are county-wide FMRs. Always verify if the specific zip code is subject to Small Area FMRs (SAFMR) which may be higher or lower.
Top ZIP Codes
- Example ZIP 1Grade BSolid working-class neighborhood. Strong rental demand.
- Example ZIP 2Grade B+Up and coming area. Slightly higher acquisition costs.
Interactive Breakeven
Calculate the maximum purchase price to cash flow $0 (assuming 25% down).