Memphis vs New York-Newark-Jersey City
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Memphis is 180% cheaper for renters. A 2-bedroom rents for $819/mo vs $2,293/mo in New York-Newark-Jersey City — saving $17,688/year.
Rent by Unit Size
| Unit Size | Memphis | New York-Newark-Jersey City | Difference |
|---|---|---|---|
| Studio | $560 | $1,531 | $971 |
| 1 Bedroom | $682 | $1,813 | $1,131 |
| 2 Bedrooms | $819 | $2,293 | $1,474 |
| 3 Bedrooms | $1,011 | $2,674 | $1,663 |
| 4 Bedrooms | $1,184 | $3,167 | $1,983 |
| Median Income | $44,652 | $124,777 | $80,125 |
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
New York-Newark-Jersey City
- Studio
- $1,531/mo
- 1 BR
- $1,813/mo
- 2 BR
- $2,293/mo
- 3 BR
- $2,674/mo
- 4 BR
- $3,167/mo
- Median Income
- $124,777/yr
Frequently Asked Questions
Is Memphis or New York-Newark-Jersey City cheaper to rent in?
Memphis is cheaper — a 2-bedroom Fair Market Rent is $819/mo vs $2,293/mo in New York-Newark-Jersey City. That's $1,474/mo or $17,688/year more expensive in New York-Newark-Jersey City (180% higher).
What is the 2-bedroom rent in Memphis vs New York-Newark-Jersey City?
The HUD Fair Market Rent for a 2-bedroom in Memphis is $819/month. In New York-Newark-Jersey City, a 2-bedroom FMR is $2,293/month.
How do incomes compare between Memphis and New York-Newark-Jersey City?
The median household income in Memphis is $44,652/year. In New York-Newark-Jersey City it is $124,777/year. New York-Newark-Jersey City has the higher median income.
What is the studio rent in Memphis vs New York-Newark-Jersey City?
A studio apartment Fair Market Rent in Memphis is $560/mo. In New York-Newark-Jersey City it is $1,531/mo.