Location: St. Louis, MO | Metro: St. Louis, MO-IL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,780 |
| 5 Bedrooms | $2,065 |
| 6 Bedrooms | $2,313 |
| 7 Bedrooms | $2,498 |
| 8 Bedrooms | $2,623 |
The ZIP code 63065 in Missouri lacks comprehensive demographic data, which includes specific population figures, the percentage of renters, and median household income. This scarcity of information makes it challenging to provide a precise profile of the area's rental market dynamics. However, we can still infer some aspects based on the available data points.
The absence of detailed income data complicates the analysis of how typical rents compare to local incomes. Without this crucial information, it is difficult to determine if the tenants in this area predominantly rely on Section 8 housing vouchers due to lower income levels or if they have higher incomes that allow them to pay market rates without assistance.
Despite these limitations, we can look at the Fair Market Rent (FMR) as a benchmark. For fiscal year 2024, the FMR in ZIP 63065 is set at $1130. This figure represents the maximum amount a landlord can charge for a Section 8 voucher tenant. If market rents are significantly below this FMR, it could indicate a high demand for rental properties among voucher holders. Conversely, if market rents are close to or above this figure, it might suggest that the rental market caters to a broader range of income levels, including those who do not need voucher assistance.
To get a clearer picture of the rental market in ZIP 63065, landlords and small-portfolio investors should conduct localized research. This could include reaching out to local real estate agents, reviewing property listings, and analyzing rental trends over time. These steps will help in understanding whether the area is dominated by homeowners or if there is a substantial renter population.
In terms of tenant profiles, landlords in ZIP 63065 should anticipate a mix of tenants, including those who may be utilizing Section 8 vouchers. The success of renting to voucher tenants depends on the landlord's willingness to comply with HUD regulations and their ability to manage properties effectively. Given the lack of specific income data, it is advisable for landlords to consider the potential for both voucher-supported and market-rate tenants when planning their investment strategies.
Data Sources: FMR data from HUD (2027).
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.