Location: St. Louis, MO | Metro: St. Louis, MO-IL HUD Metro FMR Area
| 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 |
The ZIP code 63378 in St. Louis County, Missouri, stands out due to limited available data on its resident population, rental percentage, median income, and median home value. This scarcity of information can make it challenging to assess the typical economic conditions of the area.
Despite these data gaps, the voucher economics provide a clearer picture. For fiscal year 2024, the Fair Market Rent (FMR) for ZIP 63378 is set at $1080. This figure represents the benchmark used by the Department of Housing and Urban Development (HUD) to determine the maximum rent that a landlord can charge tenants participating in the Section 8 program. The FMR is calculated based on HUD's analysis of local rental markets and serves as a guideline for landlords and voucher holders.
In comparison to the broader market, where specific figures are not available, the FMR offers a concrete reference point. Landlords in ZIP 63378 should consider this $1080 FMR when setting their rental rates to ensure they remain competitive and attractive to potential tenants using Section 8 vouchers. It is important to note that while the FMR provides a useful standard, actual market rents can vary widely depending on the property's condition, location, and amenities.
Given the lack of detailed demographic and economic data, the overall trend for ZIP 63378 can be characterized as transitional. The absence of historical data points suggests that the area may be undergoing changes, either in terms of population dynamics, housing stock, or economic conditions. Landlords and investors should monitor the local real estate market closely to adapt to any emerging trends or shifts in demand.
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.