Section 8 Fair Market Rent (FMR) for ZIP 62090 - 2027

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

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$900
1 Bedroom	$930
2 Bedrooms	$1,140
3 Bedrooms	$1,460
4 Bedrooms	$1,690
5 Bedrooms	$1,960
6 Bedrooms	$2,195
7 Bedrooms	$2,371
8 Bedrooms	$2,490

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,039

Median Household Income

$36,098

Housing Units

540

Renter Percentage

73.1%

Occupancy Rate

81.3%

Renter Occupied

321

The area covered by ZIP code 62090, located in Southern Illinois, is characterized by a modest economy and a significant portion of residents who prefer renting over homeownership. This region offers a unique opportunity for real estate investors, particularly those interested in the rental market dynamics influenced by federal housing programs.

The Fair Market Rent (FMR) for ZIP 62090 for fiscal year 2024 is set at $990, providing a benchmark for rental pricing that aligns with HUD guidelines.
The average market rent, according to the latest Census ACS data, stands at $797, indicating a lower baseline compared to the FMR.
A substantial 73.1% of the population in ZIP 62090 consists of renters, underscoring the strong demand for rental properties in the area.
The median household income in the area is $36,098, which suggests that many residents rely on assistance programs such as Section 8 to afford housing.
While the Days on Market (DOM) figure is not available, the high percentage of renters and reliance on Section 8 subsidies imply steady occupancy rates for landlords willing to participate in the program.
The absence of a reported median home value indicates a lack of robust data for homeownership, further emphasizing the focus on the rental market within this ZIP code.

In summary, ZIP 62090 presents a market where the demand for rental properties is high, driven by a large share of renters and limited homeownership data. The discrepancy between the market rent and the FMR offers a strategic pricing range for landlords, especially those considering participation in the Section 8 program. With a median income level that typically necessitates rental assistance, investors can anticipate a stable tenant base, making this area particularly attractive for those looking to capitalize on the rental sector's dynamics.

Data Sources: FMR data from HUD (2027). 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.