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 | $1,000 |
| 1 Bedroom | $1,040 |
| 2 Bedrooms | $1,270 |
| 3 Bedrooms | $1,630 |
| 4 Bedrooms | $1,880 |
| 5 Bedrooms | $2,181 |
| 6 Bedrooms | $2,443 |
| 7 Bedrooms | $2,638 |
| 8 Bedrooms | $2,770 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,630 | $324,567 | 0.5% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 62244 in fiscal year 2024 is set at $1,190. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program, which is a federal assistance program that helps low-income families pay for housing. It's important to note that this is the payment standard, meaning it's the ceiling on what the government will reimburse you for, but it doesn't necessarily mean that you'll be renting your property out for exactly this amount.
To put this into perspective, the average rent for a two-bedroom apartment in ZIP 62244, according to the latest Census American Community Survey (ACS) data, is $1,098. This suggests that the FMR is slightly above the market rate, which could make Section 8 rentals more attractive to potential tenants. However, it also means that landlords might need to adjust their expectations if they are hoping to charge significantly higher rents.
The 23.0% of residents who are renters indicates a moderate demand for rental properties in this area. While it's not a high percentage, it does suggest that there are enough people looking for affordable housing to potentially fill a Section 8 rental unit. The median home value in ZIP 62244 is around $310,342, which can help you estimate the cost of acquiring a property in this area. If you're planning to buy a property specifically for a Section 8 rental, ensure that the purchase price aligns with the FMR to maintain profitability.
Before committing to a Section 8 rental, verify that the property meets all the necessary inspection criteria. The Housing Quality Standards (HQS) are designed to ensure that the homes are safe and habitable, and failing these inspections can delay the start of your rental income. Make sure to address any issues promptly to avoid unnecessary complications.
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.