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 | $960 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,570 |
| 4 Bedrooms | $1,810 |
| 5 Bedrooms | $2,100 |
| 6 Bedrooms | $2,352 |
| 7 Bedrooms | $2,540 |
| 8 Bedrooms | $2,667 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,220 | $56,647 | 2.15% | A+ |
| 3BR | $1,570 | $72,162 | 2.18% | A+ |
| 4BR | $1,810 | $103,801 | 1.74% | A+ |
U.S. Census Bureau data (2024)
The ZIP code 63147 in Saint Louis, MO, is characterized by a significant rental population. With 8,173 residents and 42.0% of them being renters, this area clearly leans towards a renter-heavy environment. The median household income stands at $41,182, which suggests a strong reliance on financial assistance for housing. The market rent of $1,025 aligns closely with the Fair Market Rent (FMR) figure of $1,110 for FY 2024, indicating that rents are fairly priced according to HUD standards.
To understand the impact of rent on local incomes, we can calculate that the typical rent of $1,025 consumes approximately 25% of the median household income. This is a considerable portion but still within a range that is manageable for many households, especially those receiving Section 8 housing vouchers. The close alignment between market rent and FMR also implies that there is likely a robust demand for rental properties that accept Section 8 vouchers.
The high percentage of renters and the median income level suggest that landlords in ZIP 63147 will encounter tenants who are primarily low-income individuals and families. These tenants will likely rely heavily on government assistance programs such as Section 8 vouchers to afford their living expenses. Landlords should be prepared to work with tenants who have a demonstrated need for affordable housing solutions and may require additional support in maintaining consistent rental payments.
In summary, ZIP 63147 presents itself as an area with a substantial number of renters, where the demand for affordable housing is high. The typical rent eats up about a quarter of the median income, making it a viable option for those who receive financial aid. Expect tenants who are reliant on Section 8 vouchers and are part of the low-income demographic, seeking stable and affordable housing solutions.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.