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 | $1,140 |
| 1 Bedroom | $1,190 |
| 2 Bedrooms | $1,450 |
| 3 Bedrooms | $1,860 |
| 4 Bedrooms | $2,150 |
| 5 Bedrooms | $2,494 |
| 6 Bedrooms | $2,793 |
| 7 Bedrooms | $3,016 |
| 8 Bedrooms | $3,167 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,450 | $156,897 | 0.92% | C |
| 3BR | $1,860 | $210,437 | 0.88% | C |
| 4BR | $2,150 | $319,318 | 0.67% | D |
U.S. Census Bureau data (2024)
The Fairview Heights, IL market, specifically ZIP code 62208, is characterized by a robust rental sector with a Fixed Monthly Rent (FMR) of $1330 for fiscal year 2024 and a market rent of $1,423 as indicated by the Zillow Observed Rental Index (ZORI). This suggests that the rental market is slightly above the government-subsidized levels, indicating a healthy demand for rental properties.
A key indicator of market dynamics is the 0.2% price-cut share, which implies that very few landlords are reducing their rents to attract tenants. Coupled with a 13-day Days on Market (DOM), it becomes evident that rental units are moving quickly once they become available. These figures suggest that demand is steady and perhaps slightly outpacing supply, leading to quick turnover without significant price adjustments.
The median home value of $189,011 provides insight into the affordability of homeownership in this area. However, with a 33.2% share of renters, it's clear that a substantial portion of the population opts for renting over purchasing. This high renter share can be indicative of long-term housing pressure, as it suggests that many residents find renting more accessible or preferable due to factors such as affordability, job stability, or lifestyle choices.
The interplay between these metrics—rental prices, days on market, and the proportion of renters—paints a picture of a market where rental demand remains resilient. Landlords and small-portfolio investors should consider the sustained interest in rental properties and the relatively low need for rent reductions as positive signals for maintaining or increasing rental income.
Moreover, the high renter share indicates a potential for continued growth in the rental market, driven by a diverse range of residents who may prefer or require rental options. This dynamic can offer opportunities for investment in rental properties, given the strong demand and limited need for price concessions.
In summary, ZIP 62208 exhibits characteristics of a market where demand for rentals is strong and likely outpaces supply. The median home value and the percentage of renters point towards an environment where rental investments could thrive, supported by the current rental prices and quick turnover times.
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.