Loan Limits / Tennessee / Shelby County
2026 Loan Limits · Tennessee · MEMPHIS, TN-MS-AR
Shelby County, TN.
2026 conforming and FHA loan limits, calibrated to a median sales price of $339,000.
Median Sales Price
$339,000
Per HUD CHUMS, 2026
Conforming 1u Limit
$832,750
Standard conforming
FHA 1u Limit
$541,287
Floor
Jumbo Threshold
> $832,750
1-unit · loans above this are jumbo
Conforming (Fannie / Freddie)
Standard conforming| 1-unit (single-family) | $832,750 |
| 2-unit (duplex) | $1,066,250 |
| 3-unit (triplex) | $1,288,800 |
| 4-unit (fourplex) | $1,601,750 |
FHA Forward (203b)
Floor| 1-unit (single-family) | $541,287 |
| 2-unit (duplex) | $693,050 |
| 3-unit (triplex) | $837,700 |
| 4-unit (fourplex) | $1,041,125 |
About this county
About Shelby County
Shelby County is the westernmost county in the U.S. state of Tennessee. As of the 2020 census, the population was 929,744, and was estimated to be 910,226 in 2025, making it the most populous county in Tennessee and the 65th-most populous county in the United States. It is also the largest county in Tennessee in terms of geographic area. The county seat and the largest city is Memphis, a port on the Mississippi River and the second-most populous city in Tennessee and the 29th-most populous city in the United States. The county was named for Governor Isaac Shelby of Kentucky. It is one of only two remaining counties in Tennessee with a majority African American population, along with Haywood County. Shelby County is part of the Memphis metropolitan area. It is bordered on the west by the Mississippi River. Located within the Mississippi Delta, the county was developed as a center of cotton plantations in the antebellum era, and cotton continued as an important commodity crop well into the 20th century. The economy has become more diversified. It contains over 12.60% of the state's population. Read more on Wikipedia →
Population
922,195
U.S. Census ACS 2023
Median Household Income
$62,337
U.S. Census ACS 2023
Median Home Value (Census)
$229,700
Owner-occupied · ACS 2023
Owner-Occupancy Rate
55%
Of occupied housing
What these limits mean for buyers in Shelby County
The 2026 conforming 1-unit limit for Shelby County is $832,750. Loans at or below this amount can be sold by the originating lender to Fannie Mae or Freddie Mac, which keeps pricing tight and underwriting consistent. Shelby County uses the standard national conforming baseline.
For FHA financing, the 2026 1-unit limit is $541,287. The HUD CHUMS table pegs the median sales price for Shelby County at $339,000. This matches the FHA national floor — Shelby County did not qualify for an upward adjustment for 2026.
Practical takeaway. The median sales price in Shelby County ($339,000) is below both limits — FHA, conventional, and VA financing all cover median-priced purchases here. Choice between programs comes down to credit, down payment, and overlay differences.
How the limits are set
Conforming limits come from the Federal Housing Finance Agency (FHFA), which adjusts them each year based on changes in the FHFA Housing Price Index. FHA limits come from HUD: the national floor is $541,287 (65% of conforming baseline), the ceiling is $1,249,125 (150% of conforming baseline), and counties between are calculated as 115% of the area median sales price.
Multi-unit and house-hacking math
Shelby County 2-, 3-, and 4-unit conforming limits are $1,066,250, $1,288,800, and $1,601,750 respectively. If you're house-hacking — owner-occupying one unit of a 2-4 unit property — these are the limits that matter, and the rental income on the other units can be used to qualify. FHA and VA both finance owner-occupied 2-4 unit properties at their own multi-unit limits.
Limits effective 2026 per HUD CHUMS publication. Sourced GSE and FHA files. Generated 2026-04-26.
Buying in Shelby County?
We'll structure the loan against the right limit and the right program. Conforming, FHA, VA, jumbo — all in-house.