Section 8 Fair Market Rent (FMR) for ZIP 63132 - 2027

Location: St. Louis, MO | Metro: St. Louis, MO-IL HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,290
1 Bedroom	$1,340
2 Bedrooms	$1,640
3 Bedrooms	$2,100
4 Bedrooms	$2,430
5 Bedrooms	$2,819
6 Bedrooms	$3,157
7 Bedrooms	$3,410
8 Bedrooms	$3,581

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

14,283

Median Household Income

$87,385

Housing Units

6,294

Renter Percentage

44.4%

Occupancy Rate

95.3%

Renter Occupied

2,660

Housing Authorities Serving ZIP 63132

Housing Authority of St. Louis County (Saint Louis, MO) - 7,511 Section 8 vouchers
Housing Authority of the City of Kirkwood (Kirkwood, MO)
Housing Authority of the City of Pagedale (Saint Louis, MO)
Housing Authority of the City of Hillsdale (Saint Louis, MO)
Housing Authority of the City of Olivette (Saint Louis, MO)

The Olivette, Missouri area, represented by ZIP code 63132, is a suburban community situated in St. Louis County. Known for its quiet neighborhoods and proximity to urban amenities, it offers a balanced environment that appeals to both families and professionals seeking a comfortable living space.

The Fair Market Rent (FMR) for ZIP 63132 in fiscal year 2024 is set at $1,460, providing a benchmark for rental prices in the area.
The actual market rent, as measured by the Zillow Observed Rent Index (ZORI), stands at $1,444, closely aligning with the FMR and indicating a stable rental market.
The median home value in Olivette is $356,816, reflecting the overall property values in this middle-class neighborhood.
Renters make up 44.4% of the housing market, suggesting a significant demand for rental properties in the area.
The median income for residents in ZIP 63132 is $87,385, which supports a robust local economy and indicates that tenants can afford higher rents.

The data points above paint a picture of a stable and moderately prosperous rental market in Olivette, Missouri. With a fair market rent nearly matching the observed market rent, landlords can expect consistent returns on investment. The substantial renter share and median income levels suggest strong tenant affordability and a steady demand for rental units. Given these factors, investing in rental properties in ZIP 63132 is likely to yield reliable financial performance for landlords and small-portfolio investors.

Data Sources: FMR data from HUD (2027). 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.