Rents are 6% below what Collierville's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,891 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
Rent in Collierville is 0.5% below its high of $1,900 in March 2025, at $1,891 as of September 2026.
Rent in Collierville changed +1.8% over the year to September 2026. Across the 51 Tennessee cities Zillow tracks, the typical change was +2.0%.
Rent has risen 6 months in a row, and rose in 7 of the last 12 months.
30% of the median household income ($138,598) is $3,465 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($2,770).
Cordova, 10 miles away, rents for 11% less ($1,692/mo), about $2,400 a year in savings.
From Zillow's monthly rent index (ZORI) for Collierville. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Collierville, TN is majority owner-occupied, has a large share of families with children, has a median income above the national average, 62.5% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Collierville, TN has changed in 5 years
Since 2022, the typical rent in Collierville, TN has increased from $1,738 to $1,891, a 8.8% change over five years. Local incomes tracked alongside that move, going from a median of $119,461 in 2021 to $138,598 more recently. On paper, paychecks moved up faster than rent, which softens the affordability squeeze versus the 2021 baseline. The population has grown by 1.7% since 2021, moving from about 50,669 residents to roughly 51,515. College-educated residents now make up 62.5% of adults here, versus 59.1% in 2021. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the Collierville, TN market of 2022.
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Can you afford rent in Collierville on your salary?
At $1,891/mo, how Collierville rent compares to typical pay (30% rule).
Collierville rent by bedroom count
Median rent for each apartment size in Collierville. Click any size for full breakdown.
Tips for renters in Collierville
Last updated: October 17, 2026
The median rent in Collierville is $1,891/mo as of October 2026. A studio apartment averages $1,470/mo while a 2-bedroom runs $1,800/mo. One-bedroom apartments average $1,600/mo and 3-bedroom units go for $2,370/mo.
At 16% of local median household income ($138,598/yr), Collierville ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.8% over the past year.
Frequently asked questions
How much income do you need to rent in Collierville?
Is rent going up or down in Collierville?
How does Collierville rent compare to other cities in Tennessee?
Which nearby cities are cheaper to rent in than Collierville?
At $1,891/mo, rent takes ~16% of Collierville's median household income ($138,598/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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