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 | $760 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $960 | $206,119 | 0.47% | F |
| 3BR | $1,230 | $277,443 | 0.44% | F |
U.S. Census Bureau data (2024)
With a Fair Market Rent (FMR) of $1020 set for ZIP 63015 (Catawissa, MO) in fiscal year 2024, landlords can expect to align their rental pricing closely with this benchmark to remain competitive. The Census ACS reports a market rent of $852, indicating a potential gap where properties priced at or near the FMR could attract higher-quality tenants. Given the median home value stands at $253,258, there is a notable disparity between homeownership and rental costs, which could be advantageous for those looking to invest in rental properties. With 16.3% of the population being renters, the demand for rental housing remains steady, though not overwhelming, suggesting a balanced market. The median income of $88,750 provides insight into the financial capacity of residents, allowing investors to gauge the potential tenant pool's ability to afford rents close to the FMR. Despite the lack of specific data on days on market (DOM) and the percentage of price-cut shares, the consistent trend in market rents and median incomes suggests stability. Landlords and small-portfolio investors should focus on maintaining properties that meet or slightly exceed the FMR while ensuring they are well-maintained and competitively priced. This strategy will help maximize occupancy rates and minimize vacancy periods. The absence of day DOM and price-cut share data implies a less volatile market, reducing the risk of prolonged vacancies or significant price adjustments. In conclusion, ZIP 63015 presents a viable opportunity for Section 8 investments, with the current FMR and market conditions supporting a stable and potentially profitable venture.
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.