Marketbeat St. Louis Multifamily Q2 2025

Market Overview

As of Q2 2025, St. Louis recorded 695 units of net absorption year-to-date, though deliveries slightly exceeded that at 889 units, contributing to a rise in vacancy to 10.7 percent. Effective asking rents held firm at $1.47 per square foot, marking the ninth consecutive quarter at or above $1.40 psf. The development pipeline contracted significantly, with only 1,247 units under construction—a 50 percent year-over-year decline—suggesting supply should level off as the market absorbs existing inventory.

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