Madison vs Memphis
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Memphis is 27% cheaper for renters. A 2-bedroom rents for $819/mo vs $1,038/mo in Madison — saving $2,628/year.
Rent by Unit Size
| Unit Size | Madison | Memphis | Difference |
|---|---|---|---|
| Studio | $676 | $560 | $116 |
| 1 Bedroom | $827 | $682 | $145 |
| 2 Bedrooms | $1,038 | $819 | $219 |
| 3 Bedrooms | $1,222 | $1,011 | $211 |
| 4 Bedrooms | $1,400 | $1,184 | $216 |
| Median Income | $64,691 | $44,652 | $20,039 |
Madison
- Studio
- $676/mo
- 1 BR
- $827/mo
- 2 BR
- $1,038/mo
- 3 BR
- $1,222/mo
- 4 BR
- $1,400/mo
- Median Income
- $64,691/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 Madison or Memphis cheaper to rent in?
Memphis is cheaper — a 2-bedroom Fair Market Rent is $819/mo vs $1,038/mo in Madison. That's $219/mo or $2,628/year more expensive in Madison (27% higher).
What is the 2-bedroom rent in Madison vs Memphis?
The HUD Fair Market Rent for a 2-bedroom in Madison is $1,038/month. In Memphis, a 2-bedroom FMR is $819/month.
How do incomes compare between Madison and Memphis?
The median household income in Madison is $64,691/year. In Memphis it is $44,652/year. Madison has the higher median income.
What is the studio rent in Madison vs Memphis?
A studio apartment Fair Market Rent in Madison is $676/mo. In Memphis it is $560/mo.