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 | $830 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $860 | $173,703 | 0.5% | F |
| 2BR | $1,050 | $215,856 | 0.49% | F |
| 3BR | $1,350 | $316,201 | 0.43% | F |
| 4BR | $1,550 | $400,928 | 0.39% | F |
| 5BR | $1,798 | $512,476 | 0.35% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP 63090, located within the Washington, MO, St. Louis, MO-IL HUD Metro FMR Area, does not align perfectly. The Fair Market Rent (FMR) set at $980 for fiscal year 2024 is notably higher than the reported market rent of $881 based on Census ACS data. This suggests that while landlords could theoretically charge up to $980, the actual market conditions might pressure them to offer slightly lower rates to attract tenants.
Acquisition in this area remains relatively affordable. With a median home value of $307,016, potential investors can secure properties without an exorbitant initial investment. The 21-day Days on Market (DOM) indicates that homes are selling quickly, which is a positive sign for liquidity and demand. Additionally, the low 0.2% price-cut share suggests that sellers are not frequently lowering their prices to make sales, further indicating a stable and possibly growing market.
Tenant demand in ZIP 63090 is present but not overwhelming. The area has a population of 23,258, with 23.5% of residents being renters. This implies a moderate need for rental housing, though it's important to note that the percentage of renters is not exceptionally high, suggesting that a significant portion of the population owns their homes.
In summary, ZIP 63090 offers a balanced environment for real estate investment. While the rent differential between FMR and market rates presents a challenge, the affordability of property acquisition and the steady demand for rentals provide a solid foundation for investment. Landlords should be prepared to navigate the gap between FMR and market rents but can expect a stable and moderately active market for their properties.
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.