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 | $1,140 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,440 |
| 3 Bedrooms | $1,850 |
| 4 Bedrooms | $2,130 |
| 5 Bedrooms | $2,471 |
| 6 Bedrooms | $2,768 |
| 7 Bedrooms | $2,989 |
| 8 Bedrooms | $3,138 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,180 | $191,335 | 0.62% | D |
| 2BR | $1,440 | $173,102 | 0.83% | C |
| 3BR | $1,850 | $203,745 | 0.91% | C |
| 4BR | $2,130 | $242,873 | 0.88% | C |
| 5BR | $2,471 | $305,406 | 0.81% | C |
U.S. Census Bureau data (2024)
The market in ZIP 62035, Godfrey, IL, reflects a balance between supply and demand, but leans slightly towards a scenario where demand might be catching up with supply. The Fair Market Rent (FMR) for the area, set at $1270 for fiscal year 2024, is higher than the market rent of $1,225 as reported by the Census American Community Survey. This suggests that the rental market is slightly below the threshold set by HUD, indicating a stable but not overheated environment.
A key indicator of market health is the 0.3% price-cut share, which is exceptionally low. This statistic implies that landlords and property owners are generally not needing to lower their asking rents to attract tenants, a sign of strong tenant interest in the area. While the days on market (DOM) data is not available, the low price-cut share suggests that units are likely moving quickly once listed, further supporting a market where demand is robust.
The median home value in Godfrey, IL, stands at $213,343. This figure places it within a moderate range, suggesting that homeownership is accessible to a broad segment of the population. However, the 14.5% renter share indicates that a significant portion of the population prefers or requires renting over owning. This high percentage of renters can exert long-term housing pressure, as it signals a consistent demand for rental properties that is unlikely to diminish significantly over time.
In summary, the dynamics in ZIP 62035 suggest a market where demand is steady and slightly outpacing supply, particularly in the rental sector. Landlords and small-portfolio investors should find this an attractive environment, given the relatively stable rents and the low necessity for price adjustments. The high renter share points to sustained demand for rental properties, making it a promising area for those focused on the rental market.
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.