Memphis vs Raleigh-Cary
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Memphis is 34% cheaper for renters. A 2-bedroom rents for $819/mo vs $1,097/mo in Raleigh-Cary — saving $3,336/year.
Rent by Unit Size
| Unit Size | Memphis | Raleigh-Cary | Difference |
|---|---|---|---|
| Studio | $560 | $760 | $200 |
| 1 Bedroom | $682 | $928 | $246 |
| 2 Bedrooms | $819 | $1,097 | $278 |
| 3 Bedrooms | $1,011 | $1,435 | $424 |
| 4 Bedrooms | $1,184 | $1,556 | $372 |
| Median Income | $44,652 | $70,678 | $26,026 |
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
Raleigh-Cary
- Studio
- $760/mo
- 1 BR
- $928/mo
- 2 BR
- $1,097/mo
- 3 BR
- $1,435/mo
- 4 BR
- $1,556/mo
- Median Income
- $70,678/yr
Frequently Asked Questions
Is Memphis or Raleigh-Cary cheaper to rent in?
Memphis is cheaper — a 2-bedroom Fair Market Rent is $819/mo vs $1,097/mo in Raleigh-Cary. That's $278/mo or $3,336/year more expensive in Raleigh-Cary (34% higher).
What is the 2-bedroom rent in Memphis vs Raleigh-Cary?
The HUD Fair Market Rent for a 2-bedroom in Memphis is $819/month. In Raleigh-Cary, a 2-bedroom FMR is $1,097/month.
How do incomes compare between Memphis and Raleigh-Cary?
The median household income in Memphis is $44,652/year. In Raleigh-Cary it is $70,678/year. Raleigh-Cary has the higher median income.
What is the studio rent in Memphis vs Raleigh-Cary?
A studio apartment Fair Market Rent in Memphis is $560/mo. In Raleigh-Cary it is $760/mo.