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 | $1,480 |
| 1 Bedroom | $1,540 |
| 2 Bedrooms | $1,880 |
| 3 Bedrooms | $2,410 |
| 4 Bedrooms | $2,780 |
| 5 Bedrooms | $3,225 |
| 6 Bedrooms | $3,612 |
| 7 Bedrooms | $3,901 |
| 8 Bedrooms | $4,096 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,880 | $216,119 | 0.87% | C |
| 3BR | $2,410 | $445,079 | 0.54% | F |
| 4BR | $2,780 | $511,234 | 0.54% | F |
U.S. Census Bureau data (2024)
The ZIP code 63040 in Wildwood, Missouri, stands out within Saint Louis County due to its unique demographic and economic characteristics. With a population of 8,526 residents, it has a relatively low rental rate at 12.7%, indicating that most homeowners prefer to own rather than rent their properties. The median household income in this area is $133,220, which is significantly higher than the national average, suggesting a prosperous community. Furthermore, the median home value of $476,326 underscores the financial stability of the area's homeownership.
Turning to the specifics of Section 8 housing, the Fair Market Rent (FMR) for ZIP 63040 is set at $1,570 for fiscal year 2024. This figure contrasts with the actual market rent, which according to Census ACS data, is slightly higher at $1,691. This modest gap between FMR and market rents indicates that landlords participating in the Section 8 program can expect a reasonable return on their investment, though it may not fully cover market rates. Given the high median income and home values, it's likely that many landlords in this area are not solely dependent on rental income, making participation in Section 8 economically feasible despite the lower rates.
The data signature for ZIP 63040 suggests a stable environment, characterized by a strong local economy and a preference for homeownership over renting. These factors contribute to a steady demand for housing, which can be beneficial for landlords and small-portfolio investors. However, the slight increase in market rents compared to FMRs hints at potential transitional dynamics, where the rental market might be gradually adjusting to the overall economic prosperity of the area. For those considering Section 8 participation, the stability of the local economy provides a solid foundation, while the transitional aspects offer opportunities for growth in rental pricing as the market evolves.
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.