Location: St. Louis, MO | Metro: St. Louis, MO-IL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $1,790 |
| 5 Bedrooms | $2,076 |
| 6 Bedrooms | $2,325 |
| 7 Bedrooms | $2,511 |
| 8 Bedrooms | $2,637 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 62226, which includes Belleville, IL, is set at $1060 for the fiscal year 2024. This figure represents the maximum amount the U.S. Department of Housing and Urban Development (HUD) will pay landlords participating in the Section 8 program. It does not reflect the total rent you can charge your tenants; rather, it's the payment standard HUD uses to determine how much assistance it will provide.
In comparison, the local median rent, known as the Zillow Rent Index (ZORI), stands at $1,173. This indicates that the market rent for properties in ZIP 62226 exceeds the FMR by about $113 per month. As a landlord, you can charge a higher rent, but the tenant would need to cover the difference between the FMR and the actual rent, which in this case is $113.
The demand for rentals in ZIP 62226 is strong, with 33.0% of the population being renters. This suggests a significant portion of the community relies on rental housing, including those who might benefit from the Section 8 program. The average home value in the area is around $180,656, which gives an idea of the acquisition cost if you're looking to purchase a property for your first Section 8 rental.
Before committing to a Section 8 rental, ensure that the property meets all necessary inspection criteria. HUD requires that all properties leased under the Section 8 program pass a thorough inspection to meet minimum housing quality standards. Failure to do so can result in penalties or disqualification from the program.
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.