Short answer: In St. Louis, MO, the median home value is $214,500 and the median 3-bedroom rents for $1,275/mo (Census ACS 2024). That's a rent-to-price ratio of 0.59%, so it misses the 1% rule and would place #14 among the 50 largest US rental markets (St. Louis is the #52 US city by renter households). With 20% down at 7.32%, FirstDoor scores a median-priced home Pass (−$456/mo cash flow).
Key numbers
The 1% rule in St. Louis
Before running a full analysis, many investors check whether rent is at least 1% of price. This is where St. Louis lands.
Across all rentals (not just 3-bedrooms) the ratio is 0.49%. A home renting for the median 3-bedroom rent would need to cost about $128,000 or less to pass.
A typical St. Louis home, scored
We took a home at the median value, gave it the median 3-bedroom rent, and ran it through the same math as the FirstDoor calculator: 20% down, a 30-year loan at 7.32%, the city's median tax rate, and standard expense budgets.
| 3-bedroom rent (median) | $1,275 |
| Property tax ($2,195/yr, local median) | −$183 |
| Insurance ($1,070/yr, assumed) | −$89 |
| Vacancy 9% · Maintenance 5% · Management 8% | −$280 |
| Net operating income | $722 |
| Mortgage (P&I on $171,600 at 7.32%) | −$1,179 |
| Monthly cash flow | −$456 |
What price works in St. Louis?
How low would the price need to be? With the median St. Louis 3-bedroom rent, here's where each result kicks in.
Takeaways
- A 0.59% rent-to-price ratio puts St. Louis in the middle of the pack (it would place #14 among the 50 largest). Expect to hunt for below-median prices to make the numbers work.
- A median-priced home here would cost you about $456/mo out of pocket after the mortgage and every expense. To break even you'd need to pay about $144,000, 33% below the median.
- Rents are outrunning prices: the median 3-bedroom rent rose 15.6% from 2023 to 2024 while values rose 11.3%. That slowly improves the math for buyers.
- Rental vacancy is high at 9.1% (US: 5.7%), so we budgeted 9% vacancy instead of 5%. Price in a longer wait for tenants.
Frequently asked questions
Does St. Louis pass the 1% rule?
No, on typical numbers. The median 3-bedroom gross rent is $1,275/mo and the median home value is $214,500 (Census ACS 2024 1-year), a ratio of 0.59%. To pass at that rent, a home would need to cost about $128,000 or less.
What is the typical rent for a 3-bedroom in St. Louis?
The median gross rent for a 3-bedroom in St. Louis, MO is $1,275 a month, and $1,044 across all rentals (Census ACS 2024 1-year). Gross rent includes utilities the renter pays, so the landlord's share can be a bit lower. The 3-bedroom median rose 15.6% from 2023.
Can you cash flow a rental in St. Louis?
At the median price, not easily. With 20% down at 7.32% and realistic expenses, a $214,500 home renting for $1,275 loses about $456/mo. It breaks even at roughly $144,000.
How much cash do you need to buy a typical rental in St. Louis?
About $49,300: a 20% down payment of $42,900 plus closing costs we assume at 3% ($6,400). Lenders often also want several months of reserves. Investment loans commonly need 15–25% down.
Is St. Louis a good place to buy a first rental?
FirstDoor scores a median-priced home in St. Louis as Pass (0 of 8 points). That's a starting point, not a verdict on every listing: neighborhoods vary, and buying below the median changes the math. Run any listing through the free calculator.
Compare similar markets
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Sources
Data: U.S. Census Bureau, 2024 American Community Survey 1-year estimates (released September 2025); year-over-year changes compare with 2023. Mortgage rate: Freddie Mac PMMS, week of October 22, 2026. Retrieved October 15, 2026. Insurance ($1,070/yr), closing costs (3%), maintenance (5%) and management (8%) are FirstDoor assumptions, not local data. Investment-property loans often price above the PMMS average. Medians describe the whole city, not any one home. Educational content, not financial advice.