Memphis is opening its checkbook to nudge more “missing middle” homes onto the market. The city is now taking applications for a new Middle-Income Housing Pilot that pays developers to build duplexes, townhomes and small multifamily buildings targeted to households earning roughly 80 to 120 percent of area median income.
Awards range from $60,000 to $350,000 per project, with support capped at $20,000 per unit. The online application window is open through 4 p.m. on March 27, 2026. In exchange for the public money, projects that receive MI-Pilot funds must sign a five-year affordability covenant that includes a cap of 3 percent per year on rent increases while the covenant is in effect.
What the pilot pays for
MI-Pilot funding is structured…..