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 | $840 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $870 | $142,689 | 0.61% | D |
| 2BR | $1,060 | $196,720 | 0.54% | F |
| 3BR | $1,360 | $274,081 | 0.5% | F |
| 4BR | $1,570 | $328,929 | 0.48% | F |
| 5BR | $1,821 | $364,986 | 0.5% | F |
U.S. Census Bureau data (2024)
The ZIP code 63084, located in Union, Missouri, presents a dynamic rental market characterized by a balance between supply and demand, with slight indications that demand may be catching up. The Fair Market Rent (FMR) for the area is set at $1,000 for fiscal year 2024, closely aligning with the market rent, known as ZORI, which stands at $1,020. This suggests that the rental prices are reflective of the fair market value, indicating a stable pricing environment.
The low price-cut share of 0.2% implies that landlords are not frequently reducing their asking rents, a sign that tenants are willing to pay the listed rates. While the days on market (DOM) is listed as N/A, this could indicate either a well-managed market or a lack of comprehensive data, but given the other metrics, it's reasonable to infer that listings do not typically linger long before being rented.
The median home value in the area is $259,428, a figure that provides insight into the overall economic health and affordability of the region. With a renter share of 28.7%, Union, Missouri, reflects a community where nearly a third of residents choose to rent rather than own. This significant proportion of renters can exert long-term housing pressure, as a consistent demand for rental properties is maintained. Landlords and small-portfolio investors should take note of this trend, as it signals an ongoing need for rental units in the area.
The dynamics of the market suggest that while there is a steady supply of rental properties, the slight alignment between FMR and market rent indicates that demand is robust enough to keep prices stable without the necessity of frequent discounts. For investors, this means that the area is likely to provide consistent returns, supported by a strong tenant base willing to pay fair market values.
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.