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 | $1,010 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,280 |
| 3 Bedrooms | $1,650 |
| 4 Bedrooms | $1,900 |
| 5 Bedrooms | $2,204 |
| 6 Bedrooms | $2,468 |
| 7 Bedrooms | $2,665 |
| 8 Bedrooms | $2,798 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,280 | $165,979 | 0.77% | D |
| 3BR | $1,650 | $230,172 | 0.72% | D |
| 4BR | $1,900 | $302,655 | 0.63% | D |
U.S. Census Bureau data (2024)
The ZIP code 62067, located in Moro, Illinois, has a population of 2,203 residents. Among these, 17.9% are renters, indicating that it is primarily a homeowner-dominated area rather than a renter-heavy ZIP. The median household income stands at $72,431, which provides a baseline for understanding the economic context of potential tenants.
In this market, the typical rent is $1,063 per month. This represents approximately 14.7% of the median household income, calculated by dividing the monthly rent by the annual median income and multiplying by 12. While this percentage is not excessively high, it still suggests that a significant portion of income is allocated towards housing costs.
The Fair Market Rent (FMR) for the area, as determined by the U.S. Department of Housing and Urban Development for FY 2024, is set at $900. This figure is lower than the market rent of $1,063, indicating that the local rental market is above the federally recognized fair market rate. For landlords, this means that tenants receiving Section 8 vouchers may find it challenging to afford units priced at the market rate without additional financial assistance.
A landlord in ZIP 62067 should expect a tenant pool that is largely composed of individuals who are somewhat financially constrained but not entirely dependent on housing vouchers. Given the relatively low percentage of renters and the higher market rent compared to the FMR, there is likely to be less deep voucher demand than in more urbanized areas with higher renter populations. Tenants will likely be seeking affordable housing options and may require properties that are priced closer to the FMR to be competitive with their vouchers.
To attract and retain tenants effectively, landlords might consider offering properties at or slightly below the FMR, particularly if they aim to cater to those relying on Section 8 vouchers. Additionally, maintaining well-managed properties with reasonable amenities can help attract tenants who are willing to pay market rates but are also looking for quality living conditions.
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.