Section 8 Fair Market Rent (FMR) for ZIP 62084 - 2027

Location: St. Louis, MO | Metro: St. Louis, MO-IL HUD Metro FMR Area

Investment Score for ZIP 62084

Monthly Rent (2BR)

$1,180

Median Price (2BR)

$105,366

1% Rule

1.12%

Annual Yield

13.44%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$930
1 Bedroom	$970
2 Bedrooms	$1,180
3 Bedrooms	$1,510
4 Bedrooms	$1,750
5 Bedrooms	$2,030
6 Bedrooms	$2,274
7 Bedrooms	$2,456
8 Bedrooms	$2,579

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,180	$105,366	1.12%	B
3BR	$1,510	$108,997	1.39%	A

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,631

Median Household Income

$63,226

Housing Units

820

Renter Percentage

25.6%

Occupancy Rate

93.4%

Renter Occupied

196

The ZIP code 62084, located in Roxana, Illinois, has a population of 1,631 residents. With 25.6% of the population being renters, it indicates a moderate rental market presence rather than a highly renter-heavy area. The median household income in this ZIP code stands at $63,226, which provides insight into the financial capabilities of potential tenants.

A typical market rent of $975 consumes approximately 18.8% of the median household income, suggesting that while rent is a significant expense, it remains manageable for most households. This figure is slightly below the Fair Market Rent (FMR) set at $1,040 for FY 2024, indicating that landlords can potentially offer rents slightly above the market rate without significantly impacting affordability for tenants.

The demand for housing vouchers in this area is likely to be moderate given the percentage of renters. However, the relatively low median income compared to the FMR suggests that there could be a notable portion of the population relying on Section 8 vouchers to find affordable housing. Landlords in this ZIP code should anticipate a mix of tenants, including those who might require assistance through housing vouchers.

To further analyze the tenant profile, consider the following:

Income Alignment: Given the median household income, tenants who receive Section 8 vouchers will have their incomes capped at 50% of the area median income, which aligns well with the local economic conditions.
Rental Market: With 25.6% of the population renting, there is a substantial tenant pool, though not overwhelmingly large. This percentage suggests a stable but not highly competitive rental market.
Fiscal Considerations: The gap between the market rent ($975) and the FMR ($1,040) offers landlords some flexibility in setting rent prices while still being within the bounds of affordability for voucher recipients.

In summary, landlords in ZIP 62084 should expect a tenant base that includes individuals and families with diverse income levels, many of whom may rely on housing vouchers to meet their rental obligations. The combination of moderate renter percentages and a median income slightly below the FMR supports the viability of Section 8 tenancy as a component of the local 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.