Location: St. Louis, MO | Metro: St. Louis, MO-IL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
U.S. Census Bureau data (2024)
The ZIP code 62030 stands out due to its uniquely small resident population, totaling just 71 individuals. This low number of inhabitants immediately sets it apart from larger residential areas, making it a niche market for real estate investment. With 26.7% of the residents renting, the demand for rental properties is relatively modest compared to areas with higher percentages of renters. The median income in ZIP 62030 is $44,063, which is a key figure for landlords to consider when setting rental prices or determining the potential tenant pool's financial stability.
Despite the lack of available data on the median home value, the Fair Market Rent (FMR) for the area is established at $1230 for fiscal year 2024. This figure is crucial for understanding the economic viability of Section 8 vouchers in the region. Landlords should be aware that the FMR serves as a benchmark for the maximum allowable rent for a property under the Section 8 program, ensuring that rents are reasonable and reflective of local housing markets. However, the absence of market rent data means that landlords must rely on the FMR as their primary guide for pricing rental units that accept Section 8 vouchers.
Given the limited data points available, it is challenging to definitively classify ZIP 62030 as either stable or transitional. The small resident population and the specific rental dynamics suggest a potentially stable environment, where changes in the housing market might be less pronounced than in larger, more populous areas. However, without comprehensive historical data, including trends in median home values and market rents, it is prudent to approach the analysis with caution, recognizing that the small size of the ZIP could make it more susceptible to fluctuations in both the rental and overall housing market.
To summarize, ZIP 62030 offers a unique opportunity for landlords and small-portfolio investors, particularly those interested in Section 8 voucher economics. The low population and high reliance on FMR data indicate a need for careful consideration of rental pricing strategies to ensure compliance with the program while maintaining profitability. The classification of the ZIP as stable or transitional remains ambiguous due to incomplete data, but the economic indicators point towards a cautious yet potentially rewarding investment strategy.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.