St. Louis, MO Multifamily Market Report | Yardi Matrix | Q4 2025

Market Overview

St. Louis asking rents rose 2.1% year-over-year through August to $1,312, outpacing the 0.7% national gain by a wide margin and ranking among the stronger performers in the country. Occupancy in stabilized assets held at 93.4% in July, with Lifestyle gains offset by softness in the Renter-by-Necessity segment. Development moderated after a 2024 peak, with just 1,532 units delivered through August, all Lifestyle, and 4,300 underway. Investment totaled $401 million year-to-date, with the average price per unit surging 41.5% to $165,362, driven by RBN asset strength. Major healthcare projects, including Barnes-Jewish Hospital's Plaza West Tower and Mercy's $650 million Wentzville hospital, add meaningful long-term employment demand to the market.

About Yardi Matrix

Yardi Matrix is a national commercial real estate data and analytics firm serving investors, developers, and property managers across asset classes. Their St. Louis October 2025 multifamily market report covers asking rents, occupancy, construction pipeline activity, and investment pricing to help owners and investors assess market conditions. To read the full report, click here.