Section 8 Fair Market Rent (FMR) for ZIP 62207 - 2027

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

Investment Score for ZIP 62207

N/A

Monthly Rent (2BR)

$1,080

Median Price (2BR)

$N/A

1% Rule

Annual Yield

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	$850
1 Bedroom	$880
2 Bedrooms	$1,080
3 Bedrooms	$1,390
4 Bedrooms	$1,600
5 Bedrooms	$1,856
6 Bedrooms	$2,079
7 Bedrooms	$2,245
8 Bedrooms	$2,357

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
3BR	$1,390	$74,585	1.86%	A+

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

6,984

Median Household Income

$29,845

Housing Units

3,486

Renter Percentage

50.9%

Occupancy Rate

74.4%

Renter Occupied

1,319

The area covered by ZIP code 62207, located in Illinois, offers a unique opportunity for real-estate investors interested in Section 8 properties. This region is characterized by a mix of affordable housing options and a significant population reliant on rental assistance programs.

The Fair Market Rent (FMR) for ZIP 62207 in fiscal year 2024 is set at $900, providing a benchmark for rental pricing that aligns with federal guidelines.
The average market rent for the area, according to the latest Census American Community Survey (ACS), stands at $723, indicating that properties priced near the FMR can attract tenants seeking assistance through the Section 8 program.
The median home value in ZIP 62207 is notably low at $42,228, suggesting that the overall cost of acquiring property here is relatively accessible for investors.
Renters make up 50.9% of the housing market in this ZIP code, underscoring the demand for rental units and the potential for steady occupancy rates.
The median household income in the area is $29,845, which aligns closely with the eligibility criteria for the Section 8 housing assistance program.

In summary, ZIP 62207 presents a market where the alignment between federal rental standards and local economic conditions creates a favorable environment for Section 8 landlords and small-portfolio investors. With a substantial portion of residents relying on rental assistance and a median home value well below the national average, the area offers both affordability and demand stability. However, investors should also be aware of the lower average market rents, which may necessitate strategic pricing to maximize occupancy while remaining competitive within the assisted housing sector.

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.