Location: St. Louis, MO | Metro: St. Louis, MO-IL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $940 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,760 |
| 5 Bedrooms | $2,042 |
| 6 Bedrooms | $2,287 |
| 7 Bedrooms | $2,470 |
| 8 Bedrooms | $2,594 |
U.S. Census Bureau data (2024)
The ZIP code 63042, located in Hazelwood, Missouri, stands out within Saint Louis County due to its distinct demographic and economic characteristics. With a population of 17,813, 48.0% of residents are renters, indicating a significant demand for rental properties. The median income in the area is $49,453, which is relatively modest compared to the median home value of $164,334, suggesting that homeownership remains a challenge for many residents.
Moving into the realm of Section 8 housing assistance, the Fair Market Rent (FMR) for ZIP 63042 in fiscal year 2024 is set at $1,140. This figure contrasts sharply with the local market rent, as measured by the Zillow Observed Rental Index (ZORI), which currently sits at $1,420. For landlords and small-portfolio investors, this means that accepting Section 8 vouchers can result in a monthly shortfall of $280 per unit when compared to market rates. However, the stability of rental income and the guaranteed payment structure of the Section 8 program can offset some of these financial challenges.
When assessing the overall stability of ZIP 63042, the data points towards a transitional neighborhood. The high percentage of renters combined with a modest median income suggests ongoing shifts in the housing market, likely driven by changes in employment opportunities and household formation. Despite these dynamics, the presence of a substantial number of rental units and the availability of Section 8 vouchers indicate a steady demand for affordable housing options. Landlords and investors should be prepared for potential fluctuations in market conditions but can rely on the consistent support of the Section 8 program to manage risks and ensure stable cash flows.
Data Sources: FMR data from HUD (2027). 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.