Fayette County, TN

2024 Fair Market Rents

Tags: 2024 Memphis, TN-MS-AR HUD Metro FMR Area

Return to the state page to see where Tennessee ranks nationally and to view information on other counties. Click on the map to view a different county.

The top four largest cities in Fayette County are Collierville, Arlington, Somerville, and Oakland. Fair Market Rents on this page may apply depending on whether the county uses SAFMRs or county level FMRs. Cities in multiple SAFMR areas will have different SAFMRS based on ZIP code.

What type of FMR does Fayette County use?

Small Area Fair Market Rents were created by the HUD for this county/Metro Fmr Area however Fayette County is not required to use Small Area FMRs by the HUD. It is at the discretion of the local Housing Authority to determine if SAFMRs or 40th percentile FMRs are used.

To learn more about the criteria the HUD uses to determine if a Metro FMR Area requires Small Area Fair Market Rents click here.

How does Fayette County compare?

Fayette County ($1,298) has a 25.3% higher FMR for 2-Bedroom housing than the average of Tennessee ($1,036) and therefore a higher gross rent.

Fayette County is rank 11th out of 95 counties. This means the FMRs, or in other words, the gross rent is higher than 84 other counties. Fayette County is the 11th most expensive county in terms of FMRs.

Rent Tables Fayette County, TN

Fair Market Rent (40th Percentile)

$1,031
studio
$1,146
1-Bedroom
$1,298
2-Bedroom
$1,711
3-Bedroom
$1,995
4-Bedroom

Median Rent (50th Percentile)

$1,108
studio
$1,232
1-Bedroom
$1,395
2-Bedroom
$1,839
3-Bedroom
$2,144
4-Bedroom

Small Market Areas (By Zip Code)

The 90% and 110% SAFMRs represent the minimum and maximum payment standards that can be set by the local Public Housing Authority under regular conditions. The payment standard is the actual value used in Section 8. For more on payment standards click here.

FMRs and SAFMRs are set by the HUD. The local PHA takes these FMR/SAFMR values and may decide to use any value that is within +-10% of the FMR/SAFMR as the payment standard for the areas under their jurisdiction.

For a more in-depth explaination return to the overview page.

ZipCode Studio 1-Bed 2-Bed 3-Bed 4-Bed
38002 $0 $1,660 $1,880 $2,480 $2,890
38017 $0 $1,550 $1,760 $2,320 $2,710
38028 $0 $1,350 $1,530 $2,020 $2,350
38036 $0 $820 $930 $1,230 $1,430
38039 $0 $840 $950 $1,250 $1,460
38042 $0 $940 $1,070 $1,410 $1,640
38046 $0 $850 $960 $1,270 $1,480
38048 $0 $940 $1,070 $1,410 $1,640
38049 $0 $940 $1,060 $1,400 $1,630
38057 $0 $870 $990 $1,310 $1,520
38060 $0 $1,630 $1,850 $2,440 $2,840
38066 $0 $820 $930 $1,230 $1,430
38068 $0 $850 $960 $1,270 $1,480
38069 $0 $820 $930 $1,230 $1,430
38075 $0 $930 $1,050 $1,380 $1,610
38076 $0 $1,010 $1,140 $1,500 $1,750
ZipCode Studio 1-Bed 2-Bed 3-Bed 4-Bed
38002 $1,341 $1,494 $1,692 $2,232 $2,601
38017 $1,260 $1,395 $1,584 $2,088 $2,439
38028 $1,089 $1,215 $1,377 $1,818 $2,115
38036 $648 $738 $837 $1,107 $1,287
38039 $675 $756 $855 $1,125 $1,314
38042 $765 $846 $963 $1,269 $1,476
38046 $684 $765 $864 $1,143 $1,332
38048 $765 $846 $963 $1,269 $1,476
38049 $756 $846 $954 $1,260 $1,467
38057 $711 $783 $891 $1,179 $1,368
38060 $1,323 $1,467 $1,665 $2,196 $2,556
38066 $648 $738 $837 $1,107 $1,287
38068 $684 $765 $864 $1,143 $1,332
38069 $648 $738 $837 $1,107 $1,287
38075 $747 $837 $945 $1,242 $1,449
38076 $819 $909 $1,026 $1,350 $1,575
ZipCode Studio 1-Bed 2-Bed 3-Bed 4-Bed
38002 $1,639 $1,826 $2,068 $2,728 $3,179
38017 $1,540 $1,705 $1,936 $2,552 $2,981
38028 $1,331 $1,485 $1,683 $2,222 $2,585
38036 $792 $902 $1,023 $1,353 $1,573
38039 $825 $924 $1,045 $1,375 $1,606
38042 $935 $1,034 $1,177 $1,551 $1,804
38046 $836 $935 $1,056 $1,397 $1,628
38048 $935 $1,034 $1,177 $1,551 $1,804
38049 $924 $1,034 $1,166 $1,540 $1,793
38057 $869 $957 $1,089 $1,441 $1,672
38060 $1,617 $1,793 $2,035 $2,684 $3,124
38066 $792 $902 $1,023 $1,353 $1,573
38068 $836 $935 $1,056 $1,397 $1,628
38069 $792 $902 $1,023 $1,353 $1,573
38075 $913 $1,023 $1,155 $1,518 $1,771
38076 $1,001 $1,111 $1,254 $1,650 $1,925

Fair Market Rents on this page apply to the following cities in Fayette County, Tennessee: Collierville, Arlington, Somerville, Oakland, Eads, Mason, Moscow, Whiteville, Rossville, Stanton, Grand Junction, Hickory Valley, Williston, Macon, La Grange, Laconia, and Gallaway.

These Fair Market Rents also apply to the following ZIP codes in Fayette County, Tennessee: 38017, 38002, 38068, 38060, 38028, 38049, 38057, 38075, 38066, 38069, 38039, 38042, 38076, 38048, 38046, 38045, and 38036.

Fayette County, TN is considered part of the following metro FMR area: MEMPHIS, TN-MS-AR HUD METRO FMR AREA.

Other counties in the same metro FMR area are: Shelby County, TN, and Tipton County, TN.

More on Fayette County, TN

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Data Source

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Fair Market Rents are published by the Department of Housing And Urban Development.