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 | $980 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,590 |
| 4 Bedrooms | $1,840 |
| 5 Bedrooms | $2,134 |
| 6 Bedrooms | $2,390 |
| 7 Bedrooms | $2,581 |
| 8 Bedrooms | $2,710 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,240 | $203,493 | 0.61% | D |
| 3BR | $1,590 | $312,835 | 0.51% | F |
| 4BR | $1,840 | $389,697 | 0.47% | F |
| 5BR | $2,134 | $420,272 | 0.51% | F |
U.S. Census Bureau data (2024)
Maryville, IL, ZIP code 62062, is a modest-sized community with a population of 8,277 residents. The neighborhood has a relatively low rental rate, with only 14.7% of the population being renters. This indicates that it is primarily a homeowner-dominated area, where the median home value stands at $325,890. The economic status of the residents is reflected in the median income of $98,672, suggesting a middle to upper-middle class environment.
Transitioning into the realm of rental economics, the Fair Market Rent (FMR) for ZIP 62062 in fiscal year 2024 is set at $1,120. In comparison, the actual market rent, according to the Census American Community Survey (ACS), is slightly higher at $1,124. This minor difference between the FMR and market rent rates suggests that the rental market is closely aligned with government standards, providing a stable environment for landlords and investors.
The question then arises: Does this area suit a hands-off voucher operator or a hands-on value-add buyer? Given the high median income and median home value, along with the modest rental percentage, the area is likely better suited for a hands-off voucher operator. The economic stability of the residents reduces the risk of default on rental payments, making it an attractive location for those seeking consistent returns without active property management. For a value-add buyer, the opportunity might be limited due to the already established economic conditions and the low demand for rentals. However, if there are specific properties that can be improved or if there is potential for increasing the rental occupancy rate, a hands-on approach could still prove beneficial.
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.