Albany vs Memphis
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Albany is 42% cheaper for renters. A 2-bedroom rents for $577/mo vs $819/mo in Memphis — saving $2,904/year.
Rent by Unit Size
| Unit Size | Albany | Memphis | Difference |
|---|---|---|---|
| Studio | $407 | $560 | $153 |
| 1 Bedroom | $488 | $682 | $194 |
| 2 Bedrooms | $577 | $819 | $242 |
| 3 Bedrooms | $748 | $1,011 | $263 |
| 4 Bedrooms | $841 | $1,184 | $343 |
| Median Income | $39,279 | $44,652 | $5,373 |
Albany
- Studio
- $407/mo
- 1 BR
- $488/mo
- 2 BR
- $577/mo
- 3 BR
- $748/mo
- 4 BR
- $841/mo
- Median Income
- $39,279/yr
Memphis
- Studio
- $560/mo
- 1 BR
- $682/mo
- 2 BR
- $819/mo
- 3 BR
- $1,011/mo
- 4 BR
- $1,184/mo
- Median Income
- $44,652/yr
Frequently Asked Questions
Is Albany or Memphis cheaper to rent in?
Albany is cheaper — a 2-bedroom Fair Market Rent is $577/mo vs $819/mo in Memphis. That's $242/mo or $2,904/year more expensive in Memphis (42% higher).
What is the 2-bedroom rent in Albany vs Memphis?
The HUD Fair Market Rent for a 2-bedroom in Albany is $577/month. In Memphis, a 2-bedroom FMR is $819/month.
How do incomes compare between Albany and Memphis?
The median household income in Albany is $39,279/year. In Memphis it is $44,652/year. Memphis has the higher median income.
What is the studio rent in Albany vs Memphis?
A studio apartment Fair Market Rent in Albany is $407/mo. In Memphis it is $560/mo.