Location: St. Louis, MO | Metro: St. Louis, MO-IL HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,050 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,330 |
| 3 Bedrooms | $1,710 |
| 4 Bedrooms | $1,970 |
| 5 Bedrooms | $2,285 |
| 6 Bedrooms | $2,559 |
| 7 Bedrooms | $2,764 |
| 8 Bedrooms | $2,902 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,090 | $243,386 | 0.45% | F |
| 2BR | $1,330 | $207,179 | 0.64% | D |
| 3BR | $1,710 | $306,960 | 0.56% | F |
| 4BR | $1,970 | $402,608 | 0.49% | F |
| 5BR | $2,285 | $505,862 | 0.45% | F |
U.S. Census Bureau data (2024)
The ZIP code 62034, located in Glen Carbon, IL, within the St. Louis, MO-IL HUD Metro FMR Area, presents an interesting opportunity for landlords and small-portfolio investors considering a Section 8 portfolio strategy. This area can be best described as a cash-flow anchor.
The median Fair Market Rent (FMR) for ZIP 62034 in fiscal year 2024 is $1270, which is notably higher than the current market rent of $1,138. This indicates that properties in this ZIP code can potentially receive higher rental payments through Section 8 vouchers compared to the standard market rates. The spread between the FMR and market rent suggests that landlords can maintain or even improve their cash flow while participating in the Section 8 program.
The median home value in Glen Carbon is $329,324, reflecting a relatively stable housing market. With a median income of $101,260, residents have a strong financial foundation, reducing the risk of default on rental payments. Additionally, the low 0.2% price-cut share and N/A-day days on market (DOM) suggest that the real estate market in this area is robust and sellers do not often need to reduce their asking prices to attract buyers.
Furthermore, the 29.2% renter share indicates a significant portion of the population is already accustomed to renting, making it easier to find tenants for your properties. This mix of factors—higher FMR compared to market rent, stable home values, and a substantial renter base—positions ZIP 62034 as a reliable cash-flow anchor within a Section 8 portfolio strategy. It provides a secure and predictable source of income, which is crucial for maintaining the overall financial health of a real estate investment portfolio.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.