The 121,000-unit St. Louis apartment market was balanced in 2015, with a slight decrease in vacancy and solid rent gains. With 490 units of new supply and 778 units of net absorption in 2015, the vacancy rate fell 20 basis points over the year to 4.2%. The rate was unchanged in the fourth quarter and was also 4.2% in January 2016. In 2015, the average asking rent increased 2.8% to $815 per month with the average effective rent up 2.9% to $776 per month. The fourth quarter increase was 0.7% by both measures. Rents increased 0.3% by both measures in January.