MARKET SNAPSHOT

St. louis q3 2025

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AVERAGE RENT

$1,284 Q3 2025

OCCUPANCY RATE

90.8% Q3 2025

NET ABSORPTION

2,006 YTD Q3 2025

ANNUAL RENT CHANGE

2.7% Q3 2025

ANNUAL OCCUPANCY CHANGE

-50 BPS Q3 2025

UNIT COMPLETIONS

1,963 YTD Q3 2025

KEY TAKEAWAYS
St. Louis renter demand rebounded in Q3 2025, with absorption rising to 835 units from 570 the prior quarter—an encouraging sign of renewed leasing momentum after a slower start to the year.
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Unit completions totaled 708 in Q3 2025, down 20% from the prior quarter and 35% year over year, reflecting a broader slowdown in development as the construction pipeline contracted to 2,116 units—the lowest level since early 2015.
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With supply pressures easing, St. Louis operators regained pricing leverage in Q3 2025, as effective rents rose 2.7% year over year to $1,284—outperforming the U.S. average of 0.5% and ranking fifth among the nation’s 50 largest markets for rent growth.
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MARKET OUTLOOK

St. Louis enters late 2025 on a more stable footing, supported by positive demand trends, a reduced delivery slate, and a construction pipeline at multi-year lows...

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Harry Trotter

Regional Managing Director

harry.trotter@mmgrea.com

Corey Egan

Corey Egan

Managing Director

corey.egan@mmgrea.com

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