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 |
1130 is the Fair Market Rent (FMR) for ZIP code 63066 in fiscal year 2024, setting a benchmark for rental properties in the area. However, the lack of specific market rent data (N/A) means that landlords must rely on the FMR as a guideline rather than an exact figure. With the median home value also unspecified (N/A), it's challenging to gauge the overall property value in the region. The absence of data on the percentage of renters (N/A%) indicates a gap in understanding the local housing market dynamics, which could affect investment decisions. Similarly, the median income (N/A) being unknown makes it difficult to assess the financial health of potential tenants. The average days on market (DOM) being unreported (N/A-day) suggests either a robust real estate market where properties sell quickly or a lack of comprehensive data tracking. Lastly, the percentage of homes that have had their prices cut (N/A%) remains unclear, making it hard to predict future trends in property pricing. Given these limitations in data, landlords and investors should be cautious about relying solely on the $1130 FMR when setting rents or valuing properties. A thorough local market analysis, including direct conversations with local realtors and property managers, will be necessary to fill in the gaps. Despite the incomplete dataset, the presence of a defined FMR provides a starting point for pricing rentals. In conclusion, while there is a clear Section 8 FMR at $1130, the lack of additional market specifics means that investors must conduct further research to make informed decisions.
Section 8 verdict: Acceptable, but requires additional local market research beyond the $1130 FMR.
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.