About This Property
Exchange Building in Memphis, Tennessee offers 202 low-income residential units across a mix of studio, one-bedroom, two-bedroom, and three-bedroom floor plans. The property has been in service since 1995 and is owned and operated by a non-profit organization. The unit distribution includes 3 studios, 140 one-bedroom units, 55 two-bedroom units, and 4 three-bedroom units.
Waitlist Information
Waitlist managed by Memphis Housing Authority
The Memphis Housing Authority will be accepting online applications for several Public Housing apartments, with openings occurring when units become available at each site.
MHA's Housing Choice Voucher Program (HCVP) waiting list is currently closed and is not accepting applications at this time. MHA will publicly advertise when the waiting list re-opens.
Waitlist data provided by section8waitlist.org
Updated April 17, 2026
Property Details
Fair Market Rent - Shelby County, TN
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $1,031 |
| 1 Bedroom | $1,146 |
| 2 Bedroom | $1,298 |
| 3 Bedroom | $1,711 |
| 4 Bedroom | $1,995 |
Income Limits - Shelby County, TN
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $14,450
- Very Low (50%)
- $24,050
- Low (80%)
- $38,500
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $27,500
- Low (80%)
- $44,000
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $30,950
- Low (80%)
- $49,500
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $34,350
- Low (80%)
- $54,950
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $37,100
- Low (80%)
- $59,350
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $39,850
- Low (80%)
- $63,750
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $42,600
- Low (80%)
- $68,150
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $45,350
- Low (80%)
- $72,550
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $14,450 | $24,050 | $38,500 |
| 2 Persons | $17,420 | $27,500 | $44,000 |
| 3 Persons | $21,960 | $30,950 | $49,500 |
| 4 Persons | $26,500 | $34,350 | $54,950 |
| 5 Persons | $31,040 | $37,100 | $59,350 |
| 6 Persons | $35,580 | $39,850 | $63,750 |
| 7 Persons | $40,120 | $42,600 | $68,150 |
| 8 Persons | $44,660 | $45,350 | $72,550 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Memphis, TN?+
The Fair Market Rent (FMR) for Shelby County, TN is: $1031 (Studio), $1146 (1BR), $1298 (2BR), $1711 (3BR), $1995 (4BR). Actual rent at subsidized properties like Exchange Building is typically 30% of household income or less.
What size apartments are available at Exchange Building?+
Exchange Building offers the following unit types: 3 Studio, 140 One-Bedroom, 55 Two-Bedroom, 4 Three-Bedroom units, for a total of 202 units.
What are the income limits for affordable housing in Shelby County, TN?+
For a 4-person household in Shelby County, TN, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $34,350, Low Income (80% AMI): $54,950. These limits are set by HUD and updated annually.
How do I apply for housing at Exchange Building?+
Exchange Building is a Low-Income Housing Tax Credit (LIHTC) property. To apply, you can start by calling , or visiting their website, or contacting the property management office. Contact the property to learn about availability and application requirements. Eligibility is based on income limits set for the area.
Who manages Exchange Building?+
Exchange Building is managed by . You can reach them at . Visit their website for more information.
Is there a waitlist for Exchange Building?+
Public Housing waitlist is currently Opening Soon and is expected to open for applications soon. Section 8 (HCV) waitlist is currently Closed. Waitlist status can change frequently, so check back regularly or contact the housing authority directly for the most up-to-date information.
What is the price range for apartments in Memphis, TN?+
Based on Fair Market Rent for Shelby County, the estimated price range is: 1-bedroom: $1146, 2-bedroom: $1298, 3-bedroom: $1711. Actual rent at Exchange Building may be lower for income-eligible households.
Contact Information
Walk Score
Walker's Paradise
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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