Lexington-Fayette 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 Lexington-Fayette — saving $1,128/year.
Rent by Unit Size
| Unit Size | Lexington-Fayette | Memphis | Difference |
|---|---|---|---|
| Studio | $595 | $560 | $35 |
| 1 Bedroom | $719 | $682 | $37 |
| 2 Bedrooms | $913 | $819 | $94 |
| 3 Bedrooms | $1,047 | $1,011 | $36 |
| 4 Bedrooms | $1,300 | $1,184 | $116 |
| Median Income | $47,838 | $44,652 | $3,186 |
Lexington-Fayette
- Studio
- $595/mo
- 1 BR
- $719/mo
- 2 BR
- $913/mo
- 3 BR
- $1,047/mo
- 4 BR
- $1,300/mo
- Median Income
- $47,838/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 Lexington-Fayette or Memphis cheaper to rent in?
Memphis is cheaper — a 2-bedroom Fair Market Rent is $819/mo vs $913/mo in Lexington-Fayette. That's $94/mo or $1,128/year more expensive in Lexington-Fayette (11% higher).
What is the 2-bedroom rent in Lexington-Fayette vs Memphis?
The HUD Fair Market Rent for a 2-bedroom in Lexington-Fayette is $913/month. In Memphis, a 2-bedroom FMR is $819/month.
How do incomes compare between Lexington-Fayette and Memphis?
The median household income in Lexington-Fayette is $47,838/year. In Memphis it is $44,652/year. Lexington-Fayette has the higher median income.
What is the studio rent in Lexington-Fayette vs Memphis?
A studio apartment Fair Market Rent in Lexington-Fayette is $595/mo. In Memphis it is $560/mo.