Knoxville vs Memphis
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Memphis is 2% cheaper for renters. A 2-bedroom rents for $819/mo vs $836/mo in Knoxville — saving $204/year.
Rent by Unit Size
| Unit Size | Knoxville | Memphis | Difference |
|---|---|---|---|
| Studio | $566 | $560 | $6 |
| 1 Bedroom | $693 | $682 | $11 |
| 2 Bedrooms | $836 | $819 | $17 |
| 3 Bedrooms | $1,106 | $1,011 | $95 |
| 4 Bedrooms | $1,220 | $1,184 | $36 |
| Median Income | $54,020 | $44,652 | $9,368 |
Knoxville
- Studio
- $566/mo
- 1 BR
- $693/mo
- 2 BR
- $836/mo
- 3 BR
- $1,106/mo
- 4 BR
- $1,220/mo
- Median Income
- $54,020/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 Knoxville or Memphis cheaper to rent in?
Memphis is cheaper — a 2-bedroom Fair Market Rent is $819/mo vs $836/mo in Knoxville. That's $17/mo or $204/year more expensive in Knoxville (2% higher).
What is the 2-bedroom rent in Knoxville vs Memphis?
The HUD Fair Market Rent for a 2-bedroom in Knoxville is $836/month. In Memphis, a 2-bedroom FMR is $819/month.
How do incomes compare between Knoxville and Memphis?
The median household income in Knoxville is $54,020/year. In Memphis it is $44,652/year. Knoxville has the higher median income.
What is the studio rent in Knoxville vs Memphis?
A studio apartment Fair Market Rent in Knoxville is $566/mo. In Memphis it is $560/mo.