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 | $1,470 |
| 1 Bedroom | $1,520 |
| 2 Bedrooms | $1,860 |
| 3 Bedrooms | $2,390 |
| 4 Bedrooms | $2,750 |
| 5 Bedrooms | $3,190 |
| 6 Bedrooms | $3,573 |
| 7 Bedrooms | $3,859 |
| 8 Bedrooms | $4,052 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,860 | $553,554 | 0.34% | F |
| 3BR | $2,390 | $663,648 | 0.36% | F |
| 4BR | $2,750 | $841,439 | 0.33% | F |
| 5BR | $3,190 | $1,105,265 | 0.29% | F |
U.S. Census Bureau data (2024)
Wildwood, MO's ZIP code 63005 is characterized by a relatively affluent suburban neighborhood with a total population of 19,779. The area has a low percentage of renters at just 9.6%, indicating a predominantly owner-occupied community. This is further underscored by the high median income of $198,469 and median home value of $841,834, which suggest a robust local economy and a preference for homeownership among residents.
The rent economics in ZIP 63005 reveal an interesting dynamic. The Fair Market Rent (FMR) for the zip code for fiscal year 2024 is set at $1,590, closely aligning with the market rent of $1,596 according to the Census American Community Survey (ACS). This parity between FMR and market rent indicates that the rental market in Wildwood is stable and reflective of broader housing trends.
Given these conditions, ZIP 63005 is better suited for a hands-off voucher operator rather than a hands-on value-add buyer. The low rental rate and high median income imply a limited pool of potential Section 8 tenants relative to the overall population. Moreover, the high median home value suggests that properties in this area are likely to be more expensive to acquire and maintain, making it less attractive for active management strategies aimed at increasing property value through renovations or other improvements. Instead, landlords and small-portfolio investors should focus on properties that already meet the criteria for Section 8 eligibility, ensuring they comply with HUD regulations without the need for significant capital investment beyond routine maintenance.
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.