Fargo vs Memphis
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Memphis is 11% cheaper for renters. A 2-bedroom rents for $819/mo vs $913/mo in Fargo — saving $1,128/year.
Rent by Unit Size
| Unit Size | Fargo | Memphis | Difference |
|---|---|---|---|
| Studio | $577 | $560 | $17 |
| 1 Bedroom | $717 | $682 | $35 |
| 2 Bedrooms | $913 | $819 | $94 |
| 3 Bedrooms | $1,145 | $1,011 | $134 |
| 4 Bedrooms | $1,249 | $1,184 | $65 |
| Median Income | $45,978 | $44,652 | $1,326 |
Fargo
- Studio
- $577/mo
- 1 BR
- $717/mo
- 2 BR
- $913/mo
- 3 BR
- $1,145/mo
- 4 BR
- $1,249/mo
- Median Income
- $45,978/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 Fargo or Memphis cheaper to rent in?
Memphis is cheaper — a 2-bedroom Fair Market Rent is $819/mo vs $913/mo in Fargo. That's $94/mo or $1,128/year more expensive in Fargo (11% higher).
What is the 2-bedroom rent in Fargo vs Memphis?
The HUD Fair Market Rent for a 2-bedroom in Fargo is $913/month. In Memphis, a 2-bedroom FMR is $819/month.
How do incomes compare between Fargo and Memphis?
The median household income in Fargo is $45,978/year. In Memphis it is $44,652/year. Fargo has the higher median income.
What is the studio rent in Fargo vs Memphis?
A studio apartment Fair Market Rent in Fargo is $577/mo. In Memphis it is $560/mo.