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 | $1,590 |
| 1 Bedroom | $1,650 |
| 2 Bedrooms | $2,020 |
| 3 Bedrooms | $2,590 |
| 4 Bedrooms | $2,990 |
| 5 Bedrooms | $3,468 |
| 6 Bedrooms | $3,884 |
| 7 Bedrooms | $4,195 |
| 8 Bedrooms | $4,405 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,020 | $423,238 | 0.48% | F |
| 3BR | $2,590 | $670,298 | 0.39% | F |
| 4BR | $2,990 | $1,014,267 | 0.29% | F |
| 5BR | $3,468 | $1,610,480 | 0.22% | F |
U.S. Census Bureau data (2024)
The ZIP code 63131, Des Peres, MO, presents a dynamic rental market with specific characteristics that reveal underlying trends. The Fair Market Rent (FMR) for the area stands at $1810 for fiscal year 2024, while the actual market rent, as measured by Zillow's ZORI, is higher at $2,282. This indicates that the market rent exceeds the government-set FMR, suggesting strong demand from renters who are willing to pay above the benchmark rate.
A further indication of a robust rental market is the low 0.2% price-cut share. In a scenario where landlords frequently need to reduce their asking rents to attract tenants, this figure would be significantly higher. The current low percentage suggests that landlords can maintain their rent levels without needing to adjust downward, pointing to a healthy balance between supply and demand. However, the lack of data on days on market (DOM) means we cannot definitively assess whether listings are moving quickly or slowly, which would provide additional insight into the supply-demand relationship.
The median home value in Des Peres is $974,209, reflecting a high-end residential market. Given the high median value, it's likely that the area has limited affordable housing options, which could contribute to the observed rental dynamics. The 6.3% renter share is relatively low compared to national averages, indicating that most residents in Des Peres own their homes. This low renter share suggests that long-term housing pressure may be less pronounced in terms of rental demand, but it also implies that any increase in rental rates or decrease in available rental units could have a significant impact on those who do rent, given the limited number of such households.
In summary, Des Peres appears to be a market where demand for rentals is strong enough to support prices above the FMR, and where homeownership is the dominant form of housing. The dynamics suggest a potential for sustained rental rates, driven by a mix of high median home values and a relatively stable, albeit modest, rental population. These factors combine to create a market that is in motion, with a clear preference among residents for owning rather than renting their homes, yet one where rental properties can command a premium.
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.