Memphis vs Salem
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Memphis is 39% cheaper for renters. A 2-bedroom rents for $819/mo vs $1,137/mo in Salem — saving $3,816/year.
Rent by Unit Size
| Unit Size | Memphis | Salem | Difference |
|---|---|---|---|
| Studio | $560 | $741 | $181 |
| 1 Bedroom | $682 | $913 | $231 |
| 2 Bedrooms | $819 | $1,137 | $318 |
| 3 Bedrooms | $1,011 | $1,411 | $400 |
| 4 Bedrooms | $1,184 | $1,615 | $431 |
| Median Income | $44,652 | $53,953 | $9,301 |
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
Salem
- Studio
- $741/mo
- 1 BR
- $913/mo
- 2 BR
- $1,137/mo
- 3 BR
- $1,411/mo
- 4 BR
- $1,615/mo
- Median Income
- $53,953/yr
Frequently Asked Questions
Is Memphis or Salem cheaper to rent in?
Memphis is cheaper — a 2-bedroom Fair Market Rent is $819/mo vs $1,137/mo in Salem. That's $318/mo or $3,816/year more expensive in Salem (39% higher).
What is the 2-bedroom rent in Memphis vs Salem?
The HUD Fair Market Rent for a 2-bedroom in Memphis is $819/month. In Salem, a 2-bedroom FMR is $1,137/month.
How do incomes compare between Memphis and Salem?
The median household income in Memphis is $44,652/year. In Salem it is $53,953/year. Salem has the higher median income.
What is the studio rent in Memphis vs Salem?
A studio apartment Fair Market Rent in Memphis is $560/mo. In Salem it is $741/mo.