Section 8 Fair Market Rent (FMR) for ZIP 63365 - 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 | $1,210 |
| 1 Bedroom | $1,260 |
| 2 Bedrooms | $1,540 |
| 3 Bedrooms | $1,980 |
| 4 Bedrooms | $2,280 |
| 5 Bedrooms | $2,645 |
| 6 Bedrooms | $2,962 |
| 7 Bedrooms | $3,199 |
| 8 Bedrooms | $3,359 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$53,542
To determine if a landlord should buy in ZIP code 63365 for Section 8 purposes, follow this decision tree:
- Does the Fair Market Rent (FMR) of $1380 cover the debt service on a property?
- Yes: If the FMR of $1380 can clear the debt service, then the next consideration is the relationship between market rent and FMR.
- No: Do not purchase in this area if the FMR cannot support the debt service on your investment property.
- Is the market rent above, at, or below the FMR of $1380?
- Above: If the market rent is higher than $1380, it suggests strong demand and potential for higher returns outside of Section 8, but it does not directly impact the viability of a Section 8 investment.
- At: If market rent is around $1380, the area is considered stable for Section 8 investments, given that the FMR supports the debt service.
- Below: If the market rent is lower than $1380, it could indicate weak demand or difficulty in attracting tenants, which would make a Section 8 investment less attractive.
- Are the 15.8% of renters combined with the days on market (DOM) sufficient to ensure demand for your property?
- It Depends: The 15.8% of renters in ZIP 63365 indicates a moderate rental market. However, the exact number of DOM is missing, making it difficult to assess how quickly properties are rented. If the DOM is low, it suggests high demand and a good opportunity for a Section 8 investment. Conversely, if the DOM is high, it might indicate a slower rental market, which could affect the attractiveness of this investment.
In summary, purchasing in ZIP 63365 for Section 8 purposes is viable if the FMR of $1380 can cover the debt service and market rents are at least stable. The percentage of renters and DOM must also be considered to gauge demand. Without a specific DOM figure, the final decision hinges on the balance between these factors.
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.