Indianapolis-Carmel-Anderson vs Memphis
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Memphis is 12% cheaper for renters. A 2-bedroom rents for $819/mo vs $916/mo in Indianapolis-Carmel-Anderson — saving $1,164/year.
Rent by Unit Size
| Unit Size | Indianapolis-Carmel-Anderson | Memphis | Difference |
|---|---|---|---|
| Studio | $568 | $560 | $8 |
| 1 Bedroom | $718 | $682 | $36 |
| 2 Bedrooms | $916 | $819 | $97 |
| 3 Bedrooms | $1,096 | $1,011 | $85 |
| 4 Bedrooms | $1,191 | $1,184 | $7 |
| Median Income | $51,092 | $44,652 | $6,440 |
Indianapolis-Carmel-Anderson
- Studio
- $568/mo
- 1 BR
- $718/mo
- 2 BR
- $916/mo
- 3 BR
- $1,096/mo
- 4 BR
- $1,191/mo
- Median Income
- $51,092/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 Indianapolis-Carmel-Anderson or Memphis cheaper to rent in?
Memphis is cheaper — a 2-bedroom Fair Market Rent is $819/mo vs $916/mo in Indianapolis-Carmel-Anderson. That's $97/mo or $1,164/year more expensive in Indianapolis-Carmel-Anderson (12% higher).
What is the 2-bedroom rent in Indianapolis-Carmel-Anderson vs Memphis?
The HUD Fair Market Rent for a 2-bedroom in Indianapolis-Carmel-Anderson is $916/month. In Memphis, a 2-bedroom FMR is $819/month.
How do incomes compare between Indianapolis-Carmel-Anderson and Memphis?
The median household income in Indianapolis-Carmel-Anderson is $51,092/year. In Memphis it is $44,652/year. Indianapolis-Carmel-Anderson has the higher median income.
What is the studio rent in Indianapolis-Carmel-Anderson vs Memphis?
A studio apartment Fair Market Rent in Indianapolis-Carmel-Anderson is $568/mo. In Memphis it is $560/mo.