Location: Washington County, MO | Metro: St. Louis, MO-IL HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,790 |
| 5 Bedrooms | $2,076 |
| 6 Bedrooms | $2,325 |
| 7 Bedrooms | $2,511 |
| 8 Bedrooms | $2,637 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 63071, as set by the Department of Housing and Urban Development (HUD), is $1,070 for the metro area fiscal year 2026. This figure represents the payment standard for Section 8 vouchers in the area, meaning that if you participate in the program, HUD will pay up to $1,070 per month for a rental unit. However, this does not mean your tenants will be paying $1,070; it's the maximum amount HUD will contribute towards the rent.
To put this into perspective, the average rent in ZIP 63071 is currently $855 according to the latest Census American Community Survey (ACS) data. This indicates that the FMR is higher than the typical rent in the area, which could make your property more attractive to voucher holders. It also suggests that there might be room to charge slightly above the average rent but still within the FMR limit.
The 29.8% renter share in ZIP 63071 shows a significant portion of the population who are looking for rental housing. This can translate into a steady demand for your rental properties, especially if you're considering participating in the Section 8 program. With such a high percentage of renters, you're likely to find tenants who need the financial assistance provided by the vouchers.
If you're thinking about acquiring a new property in this area, the median home value is approximately $220,301. This figure gives you an idea of the potential acquisition costs for a property in ZIP 63071. While this price point may seem steep, it's important to remember that the Section 8 program can provide a reliable stream of income through the government's contribution to the rent.
Before proceeding with your decision, it's crucial to verify that your property meets the necessary standards for Section 8 eligibility. This includes ensuring that the rent is reasonable compared to similar units in the area and that the condition of the property adheres to the Housing Quality Standards (HQS). These checks will help you avoid any issues down the line and ensure that your investment aligns with the requirements of the program.
In summary, the FMR of $1,070 provides a benchmark for how much HUD will pay for a rental unit in ZIP 63071. Given the average rent of $855 and a substantial 29.8% of the population renting, there's a good chance you'll find tenants who benefit from the voucher program. The median home value of $220,301 can guide your expectations on property acquisition costs. By confirming your property's compliance with HQS and other eligibility criteria, you can confidently move forward with your first Section 8 rental.
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.