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Housing in Shelby County
Both Census and HUD figures represent gross rent — contract rent plus estimated utility costs for electricity, heat, water, and sewer.
Rent in Shelby County averages $1,232/month for a 2‑bedroom in 2024, compared to the Tennessee median of $1,189 and the national median of $1,413. Local renters spend approximately 34% of household income on rent, above the national average of 32%.
HUD 2026 50th Percentile Rent Estimates for Shelby County FMR Area are $1,159 for a studio, $1,262 for 1‑bedroom, $1,393 for 2‑bedroom, $1,840 for 3‑bedroom, and $2,142 for 4‑bedroom.
HUD 2026 Rent Estimates reflect market movement since 2024 Census data — a $161 increase for a 2-bedroom in Shelby County shows a 13% rise over that period.
The U.S. Bureau of Labor Statistics annual unemployment rate for Shelby County was 4.5% in 2024, compared to Tennessee at 3.4% and the national rate of 4.0%.
