Section 8 Fair Market Rent (FMR) for ZIP 63178 - 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	$980
1 Bedroom	$1,010
2 Bedrooms	$1,240
3 Bedrooms	$1,590
4 Bedrooms	$1,840
5 Bedrooms	$2,134
6 Bedrooms	$2,390
7 Bedrooms	$2,581
8 Bedrooms	$2,710

To determine if a landlord should invest in ZIP code 63178 for Section 8 properties, follow this decision tree based on the available data.

Step 1: Can the Fair Market Rent (FMR) of $1130 cover the debt service on a property?

If the FMR does not sufficiently cover the debt service, then the answer is No. Do not proceed with the purchase. However, if the FMR of $1130 can indeed cover the debt service, move to Step 2.

Step 2: What is the relationship between the market rent and the FMR?

If the market rent is above $1130, then landlords might prefer non-Section 8 tenants to maximize their income. The answer is No.
If the market rent is exactly $1130, landlords can still attract Section 8 tenants without leaving money on the table. The answer is Yes.
If the market rent is below $1130, landlords can take advantage of the higher FMR to secure a better rental income. The answer is Yes.

Step 3: Is there sufficient demand for rental properties?

If the percentage of renters and the days on market (DOM) indicate strong demand, the answer is Yes. Strong demand means that landlords can expect to fill vacancies quickly and maintain steady occupancy rates.
If the percentage of renters is low and the DOM is high, indicating weak demand, the answer is No. Weak demand suggests difficulties in finding tenants and maintaining occupancy.
If the demand is moderate, meaning the percentage of renters and DOM are neither particularly high nor low, the answer is It Depends. Landlords would need to consider other factors such as location desirability, competition, and the specific terms of the Section 8 program.

Note: Specific percentages and DOM values were not provided in the data for ZIP 63178. To make an informed decision, these metrics must be evaluated against local market conditions.

Data Sources: FMR data from HUD (2027).

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.