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 | $1,090 |
| 1 Bedroom | $1,130 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,770 |
| 4 Bedrooms | $2,040 |
| 5 Bedrooms | $2,366 |
| 6 Bedrooms | $2,650 |
| 7 Bedrooms | $2,862 |
| 8 Bedrooms | $3,005 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,130 | $173,648 | 0.65% | D |
| 2BR | $1,380 | $253,015 | 0.55% | F |
| 3BR | $1,770 | $334,495 | 0.53% | F |
| 4BR | $2,040 | $373,655 | 0.55% | F |
U.S. Census Bureau data (2024)
The market in ZIP 63109, located in Saint Louis, MO, is characterized by a strong presence of renters, with a renter share of 39.1%. This high percentage indicates sustained long-term housing pressure, as a significant portion of residents prefer or require rental accommodation over homeownership. The Fair Market Rent (FMR) for the area is set at $1240 for fiscal year 2024, which is slightly above the market rent indicated by Zillow's ZORI metric at $1,138. This suggests that the rental market is relatively stable and aligns closely with federal guidelines.
The price-cut share stands at 0.2%, a figure that implies very few properties are being discounted to attract buyers, indicating that the market may be experiencing a balance or even a slight tilt towards demand. A low Days on Market (DOM) average of 14 days further supports this notion, showing that homes are selling quickly once they come onto the market. The median home value in the area is $266,669, suggesting that while it is not an extremely expensive market, there is still considerable value in owning property here.
The dynamics of ZIP 63109 point to a market where demand is at least matching supply, if not slightly exceeding it. The low price-cut share and quick sales times indicate that sellers are generally able to achieve their asking prices without significant concessions. However, the high renter share also signals that there could be underlying economic factors that make homeownership less accessible for many residents, leading to continued reliance on the rental market.
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.