The 121,474-unit St. Louis apartment market had a strong year for rent gains in 2016. The vacancy rate began and ended the year at 4.3%, and it was also at 4.3% in January 2017. Rent gains were strong in 2016, with the average asking rent up 4.0% to $854 per month and the average effective rent up 4.3% to $816 per month. The fourth quarter gains were 0.9% and 1.0%, respectively. The overall average asking and effective rents ticked up a dollar in January 2017.