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 | $1,400 |
| 1 Bedroom | $1,460 |
| 2 Bedrooms | $1,780 |
| 3 Bedrooms | $2,280 |
| 4 Bedrooms | $2,640 |
| 5 Bedrooms | $3,062 |
| 6 Bedrooms | $3,429 |
| 7 Bedrooms | $3,703 |
| 8 Bedrooms | $3,888 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,460 | $155,106 | 0.94% | C |
| 2BR | $1,780 | $209,300 | 0.85% | C |
| 3BR | $2,280 | $401,151 | 0.57% | F |
| 4BR | $2,640 | $681,605 | 0.39% | F |
| 5BR | $3,062 | $865,094 | 0.35% | F |
U.S. Census Bureau data (2024)
The analysis for the Section 8 program in ZIP code 63144, located in Brentwood, Missouri, reveals a significant gap between the Fair Market Rent (FMR) and the market rent as measured by the Zillow Rent Index (ZORI). For fiscal year 2024, the FMR is set at $1,670, while the ZORI indicates a market rent of $1,787. This represents a difference of $117, or approximately 7%, where the market rent exceeds the FMR.
In Brentwood, where 40.7% of residents are renters and the median home value stands at $278,115, landlords might be inclined to accept Section 8 vouchers due to the perceived stability of rental income. However, the gap between the FMR and market rent means that landlords who rent to voucher holders will earn less than they could from open-market tenants. The lower income of $104,438 in Brentwood underscores the economic context in which this gap is particularly relevant, as it affects both landlords' profitability and tenants' ability to afford housing.
The cost of renting to Section 8 tenants at below market rates is evident when considering the additional expenses landlords face, such as property management, maintenance, and potential delays in receiving rent payments. While the FMR provides a baseline for what the government deems affordable for low-income families, it does not necessarily align with the actual costs of maintaining and managing rental properties in Brentwood. Landlords must weigh the benefits of stable tenancy against the financial impact of renting below market rates.
To summarize, the gap between the FMR and market rent in ZIP 63144 is $117, or about 7%. This discrepancy highlights the challenge for landlords in balancing the security of rental income with the potential for higher yields from non-voucher tenants. In Brentwood's context, where the median home value and median income are as stated, the decision to participate in the Section 8 program should be carefully considered to ensure it aligns with overall investment goals and property management strategies.
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.