Memphis vs Toledo
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Toledo is 7% cheaper for renters. A 2-bedroom rents for $769/mo vs $819/mo in Memphis — saving $600/year.
Rent by Unit Size
| Unit Size | Memphis | Toledo | Difference |
|---|---|---|---|
| Studio | $560 | $521 | $39 |
| 1 Bedroom | $682 | $622 | $60 |
| 2 Bedrooms | $819 | $769 | $50 |
| 3 Bedrooms | $1,011 | $990 | $21 |
| 4 Bedrooms | $1,184 | $1,150 | $34 |
| Median Income | $44,652 | $44,170 | $482 |
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
Toledo
- Studio
- $521/mo
- 1 BR
- $622/mo
- 2 BR
- $769/mo
- 3 BR
- $990/mo
- 4 BR
- $1,150/mo
- Median Income
- $44,170/yr
Frequently Asked Questions
Is Memphis or Toledo cheaper to rent in?
Toledo is cheaper — a 2-bedroom Fair Market Rent is $769/mo vs $819/mo in Memphis. That's $50/mo or $600/year more expensive in Memphis (7% higher).
What is the 2-bedroom rent in Memphis vs Toledo?
The HUD Fair Market Rent for a 2-bedroom in Memphis is $819/month. In Toledo, a 2-bedroom FMR is $769/month.
How do incomes compare between Memphis and Toledo?
The median household income in Memphis is $44,652/year. In Toledo it is $44,170/year. Memphis has the higher median income.
What is the studio rent in Memphis vs Toledo?
A studio apartment Fair Market Rent in Memphis is $560/mo. In Toledo it is $521/mo.