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 | $970 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $1,820 |
| 5 Bedrooms | $2,111 |
| 6 Bedrooms | $2,364 |
| 7 Bedrooms | $2,553 |
| 8 Bedrooms | $2,681 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,010 | $54,674 | 1.85% | A+ |
| 2BR | $1,230 | $70,908 | 1.73% | A+ |
| 3BR | $1,580 | $108,207 | 1.46% | A |
| 4BR | $1,820 | $162,861 | 1.12% | B |
| 5BR | $2,111 | $187,817 | 1.12% | B |
U.S. Census Bureau data (2024)
In ZIP code 63121, located in Normandy, Missouri, the median household income stands at $42,701. The market rate for rent, known as the Zillow Observed Rent Index (ZORI), is $1,141 per month. This places significant financial strain on residents, especially considering the high percentage of renters in the area—48.4% of the 25,008 population.
The Federal Market Rent (FMR) for the fiscal year 2024, which is the standard payment amount for housing vouchers, is set at $1,130 for this ZIP code. This figure closely aligns with the ZORI, indicating that voucher holders can find rental properties that meet their budget requirements. However, it also highlights a narrow margin between what renters can afford and the actual cost of renting, suggesting a tight market where affordability is a critical factor.
The affordability gap means that landlords face stiff competition when setting rents above the FMR level. Many potential tenants will be unable to pay the higher rates without assistance, making voucher-supported rentals an attractive option. Landlords who rely solely on cash-paying tenants might struggle to fill vacancies if they price their units beyond what most households can afford based on their income.
For landlords considering their strategy, the takeaway is clear: voucher programs provide a stable source of income and reduce the risk of vacancies. While the payment is slightly below the market rate, the guarantee of consistent rent and reduced vacancy periods makes it a viable alternative to chasing cash-paying tenants who may be few and far between. Landlords should consider accepting vouchers as part of their rental portfolio to remain competitive and ensure steady occupancy in ZIP 63121.
In summary, with median incomes at $42,701 and a ZORI of $1,141, the typical renter in Normandy, MO, faces challenges affording market-rate rentals. The FMR of $1,130 offers a slight reprieve but underscores the need for landlords to adapt their strategies to include voucher tenants to maintain occupancy and profitability.
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.