St. Louis Rent Report: May 2024

Welcome to the Apartment List May 2024 Rent Report for St. Louis, MO. Currently, the overall median rent in the city stands at $1,087, after rising 1.2% last month. Prices remain down 2.7% year-over-year. Read on to learn more about what’s been happening in the St. Louis rental market and how it compares to trends throughout the broader St. Louis metro area and the nation as a whole.

St. Louis rents are up 1.2% month-over-month and down 2.7% year-over-year

The median rent in St. Louis rose by 1.2% over the course of April, and has now decreased by a total of 2.7% over the past 12 months. St. Louis’s rent growth over the past year has has fallen behind both the state (1.3%) and national averages (-0.8%).

St. Louis rent growth in 2024 pacing above last year

Four months into the year, rents in St. Louis have risen 2.0%. This is a faster rate of growth compared to what the city was experiencing at this point last year: from January to April 2023 rents had increased 0.9%.

April rent growth in St. Louis ranked #17 among large U.S. cities

St. Louis rents went up 1.2% in the past month, compared to the national rate of 0.5%. Among the nation's 100 largest cities, this ranks #17. Similar monthly rent growth took place in Lexington, KY (1.2%) and Louisville, KY (1.2%).

St. Louis is the #88 most expensive large city in the U.S., with a median rent of $1,087

Citywide, the median rent currently stands at $965 for a 1-bedroom apartment and $1,235 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $1,087. That ranks #88 in the nation, among the country's 100 largest cities.

For comparison, the median rent across the nation as a whole is $1,226 for a 1-bedroom, $1,381 for a 2-bedroom, and $1,396 overall. The median rent in St. Louis is 22.1% lower than the national, and is similar to the prices you would find in Lincoln, NE ($1,087) and Tucson, AZ ($1,087).

St. Louis rents are 9.3% lower than the metro-wide median

If we expand our view to the wider St. Louis metro area, the median rent is $1,198 meaning that the median price in St. Louis proper ($1,087) is 9.3% lower than the price across the metro as a whole. Metro-wide annual rent growth stands at 0.7%, above the rate of rent growth within just the city.

The table below shows the latest rent stats for 5 cities in the St. Louis metro area that are included in our database. Among them, Lake St. Louis is currently the most expensive, with a median rent of $1,589. St. Louis is the metro’s most affordable city, with a median rent of $1,087. The metro's fastest annual rent growth is occurring in O'Fallon (4.6%) while the slowest is in St. Louis (-2.7%).

You can also use the map below to explore the latest rent trends in the St. Louis metropolitan area.