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 | $880 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,110 | $180,533 | 0.61% | D |
| 3BR | $1,420 | $266,631 | 0.53% | F |
| 4BR | $1,640 | $392,280 | 0.42% | F |
U.S. Census Bureau data (2024)
The ZIP code 62293, encompassing Trenton, IL, presents a market in motion where the dynamics between supply and demand are critical to understand. The Fair Market Rent (FMR) for the area stands at $950 for fiscal year 2024, indicating a government-set benchmark that reflects the rental market's current state. In contrast, the actual market rent reported by the Census ACS is lower at $857, suggesting that while there might be some upward pressure on rents, the market remains competitive.
A key factor in assessing the market's trajectory is the median home value, which is recorded at $257,753. This figure, combined with the FMR and market rent, suggests that homeownership could be more affordable relative to renting, potentially influencing the balance between renters and buyers. However, the lack of specific data on price-cut shares and days on market (DOM) prevents a definitive conclusion on whether supply outpaces demand or vice versa. These missing metrics would provide insights into how quickly properties are selling and if sellers are adjusting their prices due to prolonged listings.
The 18.5% renter share provides a valuable perspective on the long-term housing pressures in the area. With such a significant portion of the population renting, it implies an ongoing demand for rental properties, which could be driven by various factors including affordability, employment stability, and lifestyle preferences. This high renter share indicates that landlords and small-portfolio investors should focus on maintaining a steady supply of quality rental units to meet the persistent demand. Additionally, it signals that the area may experience continued rental activity, making it a stable investment opportunity for those looking to enter the rental market.
In summary, ZIP 62293 is a market characterized by a blend of rental and ownership dynamics. The gap between FMR and market rent, along with the high renter share, points towards a vibrant rental sector that landlords can capitalize on. However, the absence of certain metrics leaves room for further analysis to fully grasp the supply-demand relationship and the potential for future changes in the market.
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.