Location: St. Louis, MO | Metro: St. Louis, MO-IL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,040 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,320 |
| 3 Bedrooms | $1,690 |
| 4 Bedrooms | $1,950 |
| 5 Bedrooms | $2,262 |
| 6 Bedrooms | $2,533 |
| 7 Bedrooms | $2,736 |
| 8 Bedrooms | $2,873 |
ZIP code 62222, located in the St. Louis, MO-IL HUD Metro FMR Area, has a Fair Market Rent (FMR) of $1190 for fiscal year 2024. This figure is crucial for landlords and small-portfolio investors as it reflects the maximum amount that can be charged for rental units under the Section 8 program. However, the specific market rent and home values for ZIP 62222 are currently unavailable, which makes direct comparisons challenging.
To infer the position of ZIP 62222 within its metro area, we must rely on the FMR data. The St. Louis, MO-IL HUD Metro FMR Area typically has an FMR range that varies depending on unit size and location. ZIP 62222's FMR of $1190 suggests it could be positioned either as a value pocket or a mid-tier neighborhood, but without the exact median FMR for the entire metro area, we cannot definitively categorize it. Generally, if the FMR is significantly lower than the average market rent in the area, it indicates a value pocket where properties are more affordable for low-income tenants.
The lack of data on market rent and home values means we cannot draw definitive conclusions about how competitive ZIP 62222 is compared to other areas within the metro. However, the absence of a substantial renter share percentage implies that the area might not be heavily reliant on renters, which could mean it has a mix of homeowners and renters or a predominantly owner-occupied housing stock.
In the context of Section 8, ZIP 62222 appears to offer an opportunity for landlords who are willing to participate in the program. With an FMR of $1190, it stands out as potentially attractive for tenants seeking affordable housing options. If this ZIP code indeed has a lower-than-average home value within the metro, it could represent a sweet spot for Section 8 participants, particularly if there is a high concentration of renters.
To fully assess the potential of ZIP 62222 as a value pocket, mid-tier neighborhood, or premium sub-market within the St. Louis, MO-IL HUD Metro FMR Area, additional data on market rents and home values would be necessary. Landlords and investors should consider the FMR as a baseline for pricing and evaluate the broader economic conditions and tenant demand in the area before making investment decisions.
Data Sources: FMR data from HUD (2027).
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.