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 | $1,080 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,370 |
| 3 Bedrooms | $1,760 |
| 4 Bedrooms | $2,030 |
| 5 Bedrooms | $2,355 |
| 6 Bedrooms | $2,638 |
| 7 Bedrooms | $2,849 |
| 8 Bedrooms | $2,991 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,370 | $148,403 | 0.92% | C |
| 3BR | $1,760 | $249,199 | 0.71% | D |
| 4BR | $2,030 | $354,730 | 0.57% | F |
| 5BR | $2,355 | $439,059 | 0.54% | F |
U.S. Census Bureau data (2024)
The ZIP code 62221, located in Shiloh, IL, presents an interesting mix for landlords and small-portfolio investors when it comes to Section 8 tenants. With a population of 29,875, 34.8% of residents are renters, indicating a significant but not overwhelming portion of the housing market is dedicated to rentals. This percentage suggests that while there is a substantial tenant base, it is not necessarily indicative of a deep voucher demand.
The median household income in this area is $82,271, which provides a benchmark for assessing affordability. The average market rent of $1,218 represents approximately 14.8% of the median income, calculated by dividing the rent by the median income and multiplying by 100. This percentage is relatively modest, suggesting that most households can afford rent without needing assistance.
Comparing the market rent to the Fair Market Rent (FMR) set at $1,210 for FY 2024, we see a close alignment. The FMR is slightly lower, but the difference is minimal, indicating that the rental market is fairly competitive and reflective of the broader housing cost standards in the region.
In terms of tenant profiles, landlords in Shiloh, IL, should anticipate a mix of individuals and families who may require some level of financial support for housing. Given the income levels and the rental market dynamics, these tenants are likely to be middle-income earners seeking affordable housing options. While not a high-density voucher area, there is still a presence of Section 8 vouchers, making it important for landlords to understand the requirements and benefits of participating in such programs.
To summarize, ZIP 62221 is a moderately renter-heavy area with a competitive rental market. Landlords should expect tenants who can contribute a significant portion of their income towards rent, supplemented by Section 8 vouchers where necessary. The combination of income levels and market rents suggests a stable environment for both landlords and tenants.
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.