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 | $920 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,730 |
| 5 Bedrooms | $2,007 |
| 6 Bedrooms | $2,248 |
| 7 Bedrooms | $2,428 |
| 8 Bedrooms | $2,549 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,170 | $72,516 | 1.61% | A+ |
| 3BR | $1,500 | $101,647 | 1.48% | A |
U.S. Census Bureau data (2024)
The real estate market in ZIP 62048, Hartford, IL, presents a nuanced landscape for both landlords and small-portfolio investors. The median home value stands at $74,944, indicating a relatively affordable housing market. However, the absence of data regarding the percentage of listings that have been reduced and the median days on market (DOM) suggests a stable market condition where neither sellers nor buyers are under significant pressure to transact quickly.
On the rental side, the Fair Market Rent (FMR) for ZIP 62048 is set at $1120 for fiscal year 2024, while the current market rent is approximately $984 based on Census ACS data. This discrepancy signals a potential upward trend in rental prices, aligning with the government's assessment of fair market values. Landlords who adjust their rents closer to the FMR can expect to remain competitive and potentially increase their income without losing tenants to more affordable options.
For long-term investors, the setup implies a steady appreciation thesis. With the median home value already low, there is room for growth, especially if the local economy improves or attracts new residents. The gap between the FMR and the current market rent also suggests that rental income could grow, providing a dual benefit of rising property values and increasing rental yields.
However, it's crucial to note that the lack of specific data points regarding listing reductions and DOM means that rapid changes in the market are less likely. This stability can be advantageous for those looking to invest in a predictable market environment. Investors should focus on properties that offer strong rental potential and consider the broader economic factors affecting the area, such as employment rates and infrastructure development, which can influence both home values and rental demand.
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.