Marcus & Millichap

St. Louis Multifamily Investment Forecast

St. Louis Metro Area, 2018 Outlook

Access Full Report Subscribe

Developers and Investors Target Western St. Louis Amid Steadfast Economic Progress

St. Louis follows a steady growth path as vacancy declines and rents rise. The outlook is bright for the metro. Employment will improve modestly in 2018 as employers in the prominent local sectors of healthcare and education recently increased their pace of hiring. Adding new degreed professionals to the  workforce has helped the median level of income grow at a faster rate than the country as a whole. With rents in the area lying well below the national average, newly formed households will look to the comparatively more affordable option of renting. This year, persistent rental demand will outpace new completions, which are focused in the neighborhoods west of downtown. In response, the vacancy rate will fall, resuming an eight-year trend that was briefly interrupted in 2017 due to a construction surge. The average effective monthly rent for the area will again rise as vacancy tightens.

Access Full Report Subscribe