St Louis Rental Vacancies remain at historically low levels in spite of a slight increase in the first quarter of this year to 8.6% from 8.5% in the 4th quarter of 2014. The St Louis vacancy rate for first quarter of 2015 was also up significantly from the first quarter of 2014 when the vacancy rate for St Louis stood at just 7.2% although, as the table below shows, we have to remember that was the lowest vacancy rate we had seen in over 10 years.
On a national level, the rental vacancy rate has declined as well, down to 7.1% for the 1st quarter of 2015, down from 8.3% for the 1st quarter of 2014. As the chart below illustrates, all four regions in the U.S. have seen a decline in rental vacancy rates from the 1st quarter of 2014 to the same quarter in 2015. This, coupled with the facts that St Louis has a higher vacancy rate for 1st quarter 2015 than that of the region, as well as has seen an increase in rate from a year ago while the region saw a decline, may be a warning sign that the St Louis market, while performing well, is not keeping up with the region and the nation.
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Source: St Louis Real Estate Search
U.S. Rental Vacancy Rates By Region
