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 | $1,590 |
| 1 Bedroom | $1,650 |
| 2 Bedrooms | $2,020 |
| 3 Bedrooms | $2,590 |
| 4 Bedrooms | $2,990 |
| 5 Bedrooms | $3,468 |
| 6 Bedrooms | $3,884 |
| 7 Bedrooms | $4,195 |
| 8 Bedrooms | $4,405 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,020 | $151,530 | 1.33% | A |
| 3BR | $2,590 | $252,896 | 1.02% | B |
| 4BR | $2,990 | $331,172 | 0.9% | C |
| 5BR | $3,468 | $399,220 | 0.87% | C |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 63034, located in Florissant, Missouri, within Saint Louis County, are governed by the Specific Area Fair Market Rent (SAFMR) which is set at $1810 for a two-bedroom unit for fiscal year 2024. This SAFMR is specifically tailored for this ZIP code, reflecting the unique rental conditions in the area.
Contrastingly, the local market rent, measured by Zillow's Observed Rental Index (ZORI), stands at $2,110 for a similar two-bedroom unit. This indicates that landlords might face a slight challenge in matching the local rental rates with the Section 8 reimbursement rates.
A Section 8 voucher pays a significant portion of the rent, but not the entirety. Landlords receive a reimbursement from the Housing Authority based on the SAFMR, minus the tenant's contribution. Typically, the tenant's portion is 30% of their adjusted income, which can vary widely depending on the individual's financial situation. For simplicity, let's assume an average tenant contribution of $543, which is 30% of the SAFMR.
In addition to the base rent, there are utility allowances that can be factored into the total reimbursement. These allowances depend on the specific utility costs in the area and can range, but they are generally capped. Assuming an average utility allowance of $300 per month, the total monthly reimbursement to the landlord would be approximately $1810 (SAFMR) - $543 (tenant's share) + $300 (utility allowance) = $1567.
This means that if a landlord charges the local market rent of $2,110, the reimbursement gap would be $2,110 - $1567 = $543 per month. Conversely, if the landlord sets the rent at the SAFMR level of $1810, the surplus would be minimal since the reimbursement covers nearly all of it, leaving only the tenant's contribution and utility allowance as additional income sources.
To summarize, landlords in ZIP 63034 should understand that the SAFMR of $1810 represents the maximum rent that can be charged to a tenant with a Section 8 voucher. Given the local market rent of $2,110, landlords who opt to participate in the Section 8 program will see a reimbursement gap of $543 per month when charging the market rate. This gap must be covered by the landlord unless they adjust the rent to align more closely with the SAFMR.
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.