MARKET SNAPSHOT

St. louis q2 2026

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AVERAGE RENT

$1,298 Q2 2026

OCCUPANCY RATE

90.6% Q2 2026

NET ABSORPTION

2,676 T4Q

ANNUAL RENT CHANGE

1.9% Q2 2026

ANNUAL OCCUPANCY CHANGE

10 BPS

UNIT COMPLETIONS

1,722 T4Q

KEY TAKEAWAYS

Demand momentum is accelerating, with 912 units absorbed in Q2 2026 and trailing 12-month absorption of 2,676 units decisively outpacing 1,722 units delivered over the same period.

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The construction pipeline stands at 3,349 units (2.2% of inventory) with trailing 12-month starts of 2,233 units, as completions have declined 43% year-over-year, easing supply-side pressure.

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Effective rents grew 1.9% year-over-year to $1,298 per unit, while overall occupancy improved 20 basis points quarter-over-quarter to 90.6%, positioning the market for continued recovery.

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MARKET OUTLOOK

Saint Louis is positioned in the early stages of a favorable supply cycle. With new completions down 43% over the past 12 months and just 3,349 units under construction...