Location: St. Louis, MO | Metro: St. Louis, MO-IL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
U.S. Census Bureau data (2024)
0.0% of residents in ZIP code 62279 are renters, indicating a predominantly owner-occupied market. This statistic suggests that landlords might find limited demand for rental properties in this area. Despite this, the Fair Market Rent (FMR) for ZIP 62279 has been set at $940 for fiscal year 2024, which represents the maximum amount Section 8 participants can be expected to pay for housing. However, the lack of available market rent data means that there is insufficient information to compare the FMR against typical rental rates, making it difficult to assess the profitability of rental investments relative to the FMR. The median household income in this ZIP code is $139,063, a figure that far exceeds the FMR, potentially signaling a higher economic status among the local population. This high median income could imply that any rental units would need to offer significant value to attract tenants over homeownership, especially given the absence of median home value data. Furthermore, without day-on-market (DOM) and price-cut share percentages, it's challenging to gauge how quickly properties are selling and whether sellers are having to lower their asking prices, which are crucial indicators for both rental and sale investments. In conclusion, while the high median income and low renter share paint a picture of a robust owner-occupied market, the limited data on rental specifics makes it hard to give a precise recommendation. For landlords and small-portfolio investors, the Section 8 program in ZIP 62279 offers a fixed rent of $940, but the investment climate appears less favorable due to the strong preference for homeownership.
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.