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 | $910 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,160 | $185,400 | 0.63% | D |
| 3BR | $1,490 | $275,490 | 0.54% | F |
| 4BR | $1,720 | $421,303 | 0.41% | F |
| 5BR | $1,995 | $538,024 | 0.37% | F |
U.S. Census Bureau data (2024)
The dynamics of the High Ridge, MO market, encapsulated within ZIP code 63049, reveal a scenario where demand slightly edges out supply. The Fair Market Rent (FMR) for the area stands at $1120 for fiscal year 2024, while the actual market rent reported by the Census American Community Survey (ACS) is $975. This gap suggests that landlords can potentially increase rents to align more closely with the FMR, indicating a tenant willingness to pay higher rates.
A 0.2% price-cut share signals that few properties are being discounted, which further supports the notion that the market is balanced towards demand. The lack of available data on days on market (DOM) could imply either a stable housing market or that listings move quickly, without significant inventory buildup. With a median home value of $277,263, the housing stock is relatively affordable, attracting both buyers and renters.
The 12.0% renter share highlights an interesting trend in the long-term housing pressure. A lower percentage of renters compared to homeowners suggests a strong inclination towards homeownership in the area. However, this also means that any disruption in the housing market, such as economic downturns or increased interest rates, could push more residents towards renting, thus increasing rental demand over time.
In summary, the current snapshot of ZIP 63049 points to a market where demand is robust, supported by tenants willing to pay close to FMR levels. The low price-cut share and median home values indicate a healthy environment for both buying and renting, with potential for growing rental pressure if conditions shift. Landlords and small-portfolio investors should focus on maintaining competitive rental rates and preparing for possible increases in demand.
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.