The 126,380-unit St. Louis apartment market had a strong first quarter of 2019 for occupancy, as 160 units of new supply was exceeded by 286 units of net absorption. The vacancy rate fell 10 basis points to a moderate 5.5%, also down 10 basis points from a year earlier. Rents are still rising, but the pace is slowing. During the first quarter the average asking rent increased 0.2% to $940 per month, with the average effective rent up 0.4% to $890 per month. The year-over-year gains are still large at 4.0% and 3.7%, respectively.