Memphis vs Wilmington
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Memphis is 25% cheaper for renters. A 2-bedroom rents for $819/mo vs $1,024/mo in Wilmington — saving $2,460/year.
Rent by Unit Size
| Unit Size | Memphis | Wilmington | Difference |
|---|---|---|---|
| Studio | $560 | $656 | $96 |
| 1 Bedroom | $682 | $838 | $156 |
| 2 Bedrooms | $819 | $1,024 | $205 |
| 3 Bedrooms | $1,011 | $1,314 | $303 |
| 4 Bedrooms | $1,184 | $1,459 | $275 |
| Median Income | $44,652 | $52,995 | $8,343 |
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
Wilmington
- Studio
- $656/mo
- 1 BR
- $838/mo
- 2 BR
- $1,024/mo
- 3 BR
- $1,314/mo
- 4 BR
- $1,459/mo
- Median Income
- $52,995/yr
Frequently Asked Questions
Is Memphis or Wilmington cheaper to rent in?
Memphis is cheaper — a 2-bedroom Fair Market Rent is $819/mo vs $1,024/mo in Wilmington. That's $205/mo or $2,460/year more expensive in Wilmington (25% higher).
What is the 2-bedroom rent in Memphis vs Wilmington?
The HUD Fair Market Rent for a 2-bedroom in Memphis is $819/month. In Wilmington, a 2-bedroom FMR is $1,024/month.
How do incomes compare between Memphis and Wilmington?
The median household income in Memphis is $44,652/year. In Wilmington it is $52,995/year. Wilmington has the higher median income.
What is the studio rent in Memphis vs Wilmington?
A studio apartment Fair Market Rent in Memphis is $560/mo. In Wilmington it is $656/mo.