St. Louis Renter Demand Rises From Recent Lows

The St. Louis multifamily market has experienced rising renter demand in recent quarters after bottoming out in late 2022. At the end of the first quarter, trailing four-quarter absorption, or the difference between move-ins and move-outs, was 1,500 units, up 122% from the 2022 low. As consumer sentiment has risen from its low and inflation cooled, renter demand has exceeded 250 units for five consecutive quarters.