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 | $910 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $950 | $33,980 | 2.8% | A+ |
| 2BR | $1,160 | $41,831 | 2.77% | A+ |
| 3BR | $1,490 | $53,836 | 2.77% | A+ |
| 4BR | $1,720 | $70,580 | 2.44% | A+ |
U.S. Census Bureau data (2024)
The ZIP code 63115 in Saint Louis, MO, is characterized by a significant rental market presence. With a population of 14,488, over half (57.7%) of the residents are renters, indicating a robust demand for rental properties. This high percentage of renters suggests that there is likely a deep pool of Section 8 tenants in the area.
The median household income in ZIP 63115 stands at $30,622, which is notably lower than the Fair Market Rent (FMR) threshold. The typical market rent of $924 per month represents a substantial portion of the average resident's income. Specifically, the monthly rent accounts for approximately 30% of the median household income, aligning closely with the federal guideline that housing costs should not exceed 30% of an individual's income.
Comparatively, the FMR for ZIP 63115 is set at $1040 for FY 2024, slightly higher than the current market rent. This indicates that while rents are already consuming a significant portion of residents' incomes, they are still below the federally recognized fair market level, suggesting potential for modest rent increases without straining tenants further.
A landlord in ZIP 63115 should expect a tenant profile primarily composed of low-income individuals who rely heavily on government assistance such as Section 8 vouchers. These tenants will be seeking affordable housing options and are likely to have a strong preference for properties that offer stability and value for their rent payments. Given the income levels and the proportion of renters, landlords must be prepared to work within the constraints of the Section 8 program, including regular inspections and compliance with HUD standards.
In summary, ZIP 63115 is a renter-heavy area with a strong demand for Section 8 vouchers. The typical rent of $924 consumes a significant portion of the median income, making it a challenging but potentially rewarding market for landlords willing to navigate the intricacies of subsidized housing.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.