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 | $1,080 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,370 |
| 3 Bedrooms | $1,760 |
| 4 Bedrooms | $2,030 |
| 5 Bedrooms | $2,355 |
| 6 Bedrooms | $2,638 |
| 7 Bedrooms | $2,849 |
| 8 Bedrooms | $2,991 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,370 | $97,007 | 1.41% | A |
| 3BR | $1,760 | $122,291 | 1.44% | A |
| 4BR | $2,030 | $145,218 | 1.4% | A |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 63134, which includes Berkeley, Missouri, is set at $1310 for fiscal year 2024. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program, but it does not necessarily mean that you will receive this exact amount. The actual rent paid to you by the housing authority will be based on the specific tenant's income and other factors.
To put this into context, the Zillow Observed Rental Index (ZORI), which reflects typical market rents, stands at $1287. This suggests that the FMR is slightly above the average market rate, making it potentially favorable for landlords participating in Section 8.
The 45.5% renter share indicates that nearly half of the households in Berkeley are renters. This high percentage signals strong demand for rental properties, particularly those that are affordable. With the FMR being higher than the ZORI, there is an opportunity to fill a gap in the market for affordable housing.
When considering the acquisition cost of a property, the median home value in Berkeley is around $112,975. This figure can help you assess whether the potential income from a Section 8 rental aligns with your investment goals and the costs involved in purchasing and maintaining the property.
Before proceeding with your first Section 8 rental, it is crucial to verify that the property meets all the required standards set by the housing authority. These standards include safety, health, and structural requirements. Ensuring compliance will prevent delays and ensure you receive the agreed-upon payments.
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.