MARKET SNAPSHOT

St. Louis Q3 2026

AVERAGE RENT

$1,300 Q3 2026

OCCUPANCY RATE

91.0% Q3 2026

NET ABSORPTION

3,198 T4Q

ANNUAL RENT CHANGE

1.4% Q3 2026

YoY OCCUPANCY CHANGE

50 BPS

UNIT COMPLETIONS

1,807 T4Q

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KEY TAKEAWAYS
Multifamily demand in Saint Louis remains well ahead of new supply, with trailing four-quarter absorption outpacing deliveries by nearly 1.8 to 1 and broad-based gains across nearly all submarkets.
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The construction pipeline has contracted to its lowest level in over a decade, with both starts and deliveries declining in tandem, positioning the market for continued supply-side relief through 2027.
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Rent growth remained solidly positive in Q3 and occupancy extended its steady climb to 91.0%, both improving year-over-year even as the market continues working through the tail end of its recent new supply cycle.
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MARKET OUTLOOK

The St. Louis rental market enters the final stretch of 2026 with its supply pipeline at the thinnest level in years. Units under construction have fallen to roughly 2,500, the lowest total since early 2017 and just 1.6% of existing inventory, as elevated financing costs continue to limit new starts...

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Harry Trotter

Regional Managing Director

harry.trotter@mmgrea.com

Corey Egan

Corey Egan

Managing Director

corey.egan@mmgrea.com

Ryan Menke

Ryan Menke

Senior Director

ryan.menke@mmgrea.com

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