Memphis vs Sioux Falls
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Memphis is 2% cheaper for renters. A 2-bedroom rents for $819/mo vs $837/mo in Sioux Falls — saving $216/year.
Rent by Unit Size
| Unit Size | Memphis | Sioux Falls | Difference |
|---|---|---|---|
| Studio | $560 | $544 | $16 |
| 1 Bedroom | $682 | $672 | $10 |
| 2 Bedrooms | $819 | $837 | $18 |
| 3 Bedrooms | $1,011 | $1,012 | $1 |
| 4 Bedrooms | $1,184 | $1,129 | $55 |
| Median Income | $44,652 | $55,443 | $10,791 |
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
Sioux Falls
- Studio
- $544/mo
- 1 BR
- $672/mo
- 2 BR
- $837/mo
- 3 BR
- $1,012/mo
- 4 BR
- $1,129/mo
- Median Income
- $55,443/yr
Frequently Asked Questions
Is Memphis or Sioux Falls cheaper to rent in?
Memphis is cheaper — a 2-bedroom Fair Market Rent is $819/mo vs $837/mo in Sioux Falls. That's $18/mo or $216/year more expensive in Sioux Falls (2% higher).
What is the 2-bedroom rent in Memphis vs Sioux Falls?
The HUD Fair Market Rent for a 2-bedroom in Memphis is $819/month. In Sioux Falls, a 2-bedroom FMR is $837/month.
How do incomes compare between Memphis and Sioux Falls?
The median household income in Memphis is $44,652/year. In Sioux Falls it is $55,443/year. Sioux Falls has the higher median income.
What is the studio rent in Memphis vs Sioux Falls?
A studio apartment Fair Market Rent in Memphis is $560/mo. In Sioux Falls it is $544/mo.