Section 8 Fair Market Rent (FMR) for ZIP 62239 - 2027

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

Investment Score for ZIP 62239

Monthly Rent (2BR)

$1,130

Median Price (2BR)

$114,047

1% Rule

0.99%

Annual Yield

11.89%

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	$890
1 Bedroom	$920
2 Bedrooms	$1,130
3 Bedrooms	$1,450
4 Bedrooms	$1,670
5 Bedrooms	$1,937
6 Bedrooms	$2,169
7 Bedrooms	$2,343
8 Bedrooms	$2,460

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
2BR	$1,130	$114,047	0.99%	C
3BR	$1,450	$178,090	0.81%	C
4BR	$1,670	$219,913	0.76%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

4,232

Median Household Income

$61,191

Housing Units

1,904

Renter Percentage

32.9%

Occupancy Rate

92.6%

Renter Occupied

580

In ZIP code 62239, which encompasses Dupo, IL, and part of Saint Clair County, the Section 8 economics can be quite favorable for landlords when understood correctly. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this specific ZIP code is set at $1110 for fiscal year 2024. However, the local market rent, according to the Census ACS, runs lower at $913.

The SAFMR is the maximum amount that the housing authority will pay on behalf of a tenant using a Section 8 voucher. If the market rent is below the SAFMR, landlords should aim to price their units close to the SAFMR to maximize their income. Here’s a breakdown of what a landlord can expect:

Tenant Portion: The tenant is responsible for paying 30% of their adjusted income towards rent. For instance, if a tenant's monthly adjusted income is $1000, they would pay $300.
Housing Authority Reimbursement: The housing authority will cover the difference between the tenant’s payment and the SAFMR. In our example, the housing authority would reimburse the landlord $810 ($1110 - $300).
Utility Allowances: Utility allowances vary but are typically around $200-$300 per month. This amount is not included in the SAFMR calculation and is paid directly to the tenant to cover utilities.

To illustrate, if a landlord sets the rent at the SAFMR of $1110, and the tenant pays $300, the landlord receives a total of $1110 from both sources. This includes $810 from the housing authority and $300 from the tenant. If the utility allowance is $250, the tenant has an additional $550 to spend on other necessities after covering rent and utilities.

Given the local market rent is $913, landlords who price their units at the SAFMR level of $1110 will have a higher income than the average rental rate. However, it also means that there could be a surplus for landlords if they choose to set their rents below the SAFMR. For example, if a landlord sets the rent at $913, the housing authority would still reimburse up to $810, making the total reimbursement $1113 ($913 from the tenant plus $200 utility allowance).

Therefore, landlords in ZIP 62239 can expect a consistent and reliable income stream from Section 8 vouchers, with a potential surplus of $203 per month for a two-bedroom unit priced at the local market rate of $913. This surplus occurs because the housing authority reimburses up to $810, and the tenant pays $300, totaling $1113, which is above the market rent of $913.

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.