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 | $990 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,620 |
| 4 Bedrooms | $1,870 |
| 5 Bedrooms | $2,169 |
| 6 Bedrooms | $2,429 |
| 7 Bedrooms | $2,623 |
| 8 Bedrooms | $2,754 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,620 | $235,056 | 0.69% | D |
U.S. Census Bureau data (2024)
The ZIP code 63039, located within the St. Louis, MO-IL HUD Metro FMR Area, has a Fair Market Rent (FMR) of $1220 for fiscal year 2024. This figure is critical for landlords and small-portfolio investors who wish to understand the rental dynamics in this area. The FMR represents the maximum amount that a low-income household receiving federal rental assistance can be charged.
In comparison to typical ZIP codes within the St. Louis, MO-IL HUD Metro FMR Area, the FMR of $1220 in ZIP 63039 is relatively stable. However, it's important to note that the market rent for this ZIP is currently not available, which might suggest a lack of recent data or a less active rental market compared to other areas in the region. The median home value in ZIP 63039 is $231,538, which is a key indicator of the overall cost of housing in the area.
The renter share in ZIP 63039 is 17.6%. This percentage reflects the proportion of households that rent rather than own their homes. A higher renter share, combined with lower-than-average home values, often indicates a potentially attractive location for Section 8 properties. In this case, the home value in ZIP 63039 is lower than the average for the entire St. Louis, MO-IL HUD Metro FMR Area, making it a candidate for what could be considered a value pocket within the larger metro area.
While the exact median market rent is not available for ZIP 63039, the FMR provides a baseline for understanding the rental market. If the actual market rents are significantly higher than the FMR, landlords might find opportunities to attract tenants through Section 8 vouchers, as the cost to the landlord would be subsidized. Conversely, if market rents are close to or below the FMR, the ZIP might be seen as more competitive for non-subsidized rentals.
Given the lower home values and the decent renter share, ZIP 63039 appears to be a value pocket within the St. Louis, MO-IL HUD Metro FMR Area. Landlords and investors should consider the potential for steady occupancy rates among tenants who benefit from Section 8 vouchers, as well as the possibility of leveraging the lower property costs to build a profitable portfolio.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.