Insights

Missouri

BACK TO INSIGHTS

Market Overview

BACK TO INSIGHTS

EXPLORE 2 Missouri MARKETSToggle markets

Kansas City
St. Louis

Kansas City

Learn more about the Missouri markets from one of our professionals

VACANCY

Apartment

The average Vacancy Rate was 5.3% in the Kansas City metro

Vacancy in the Kansas City metro drifted downward by 20 basis points.
Vacancy is expected to finish 2023 at 5.7% in the Kansas City metro.

Distribution / Warehousing

The average Vacancy Rate was 3.0% in the Kansas City metro

The Kansas City metro had the second lowest vacancy in the nation, behind only Lexington.
Vacancy in the Kansas City metro fell by 70 basis points.
The Kansas City metro had the lowest vacancy level since Q3 2009.

Flex / R&D

The average Vacancy Rate was 7.1% in the Kansas City metro

Vacancy in the Kansas City metro rose by 230 basis points.
Vacancy is expected to finish 2023 at 6.8% in the Kansas City metro.

Office

The average Vacancy Rate was 15.1% in the Kansas City metro

The Kansas City metro had the sixth lowest vacancy in the nation and the fourth lowest in the Midwest.
Vacancy in the Kansas City metro declined by 190 basis points.
The Kansas City metro had the lowest vacancy level since Q3 2001.

Retail

The average Vacancy Rate was 11.1% in the Kansas City metro

Vacancy in the Kansas City metro drifted downward by 20 basis points.
The Kansas City metro was among the 20 lowest vacancies nationally.
Vacancy is expected to finish 2023 at 11.2% in the Kansas City metro.

RENT

Apartment

The average Asking Rent was $1,167 in the Kansas City metro

Rent in the Kansas City metro was down 0.8% from Q1 2023.
Rent is expected to finish 2023 at $1,185 in the Kansas City metro.

Distribution / Warehousing

The average Asking Rent was $4.51 in the Kansas City metro

Rent in the Kansas City metro was up 2.0% from Q1 2023.
Rent Has risen for nine consecutive quarters in the Kansas City metro.
Rent is expected to finish 2023 at $4.65 in the Kansas City metro.

Flex / R&D

The average Asking Rent was $8.28 in the Kansas City metro

The Kansas City metro had the fastest rent growth in the nation.
Rent has risen in every quarter for the past three years in the Kansas City metro.
Rent is expected to finish 2023 at $8.55 in the Kansas City metro.

Office

The average Asking Rent was $23.17 in the Kansas City metro

Rent in the Kansas City metro was up 0.5% from Q1 2023.
Rent is expected to finish 2023 at $23.33 in the Kansas City metro.

Retail

The average Asking Rent was $14.83 in the Kansas City metro

Rent in the Kansas City metro was down 0.5% from Q1 2023.
Rent is expected to finish 2023 at $14.91 in the Kansas City metro.

Learn more about the Missouri markets from one of our professionals

Learn more about the Missouri markets from one of our professionals.

St. Louis

Learn more about the Missouri markets from one of our professionals

VACANCY

Apartment

The average Vacancy Rate was 4.6% in the St. Louis metro

Vacancy in the St. Louis metro drifted upward by 20 basis points.
The St. Louis metro had the highest vacancy level since Q2 2021.
Vacancy is expected to finish 2023 at 5.0% in the St. Louis metro.

Distribution / Warehousing

The average Vacancy Rate was 7.0% in the St. Louis metro

Vacancy in the St. Louis metro drifted upward by 30 basis points.
Vacancy is expected to finish 2023 at 6.8% in the St. Louis metro.

Flex / R&D

The average Vacancy Rate was 5.2% in the St. Louis metro

The St. Louis metro had the fourth lowest vacancy in the nation and the fifth lowest in the Midwest.
Vacancy in the St. Louis metro declined by 50 basis points.
The St. Louis metro had the lowest vacancy level since Q3 2009.

Office

The average Vacancy Rate was 21.9% in the St. Louis metro

Vacancy in the St. Louis metro fell by 90 basis points.
Vacancy is expected to finish 2023 at 22.3% in the St. Louis metro.

Retail

The average Vacancy Rate was 13.7% in the St. Louis metro

Vacancy in the St. Louis metro drifted upward by 20 basis points.
The St. Louis metro had the highest vacancy level since year-end 1994.
Vacancy is expected to finish 2023 at 13.2% in the St. Louis metro.

RENT

Apartment

The average Asking Rent was $1,179 in the St. Louis metro

Rent in the St. Louis metro was up 0.1% from Q1 2023.
Rent is expected to finish 2023 at $1,194 in the St. Louis metro.

Distribution / Warehousing

The average Asking Rent was $5.26 in the St. Louis metro

Rent in the St. Louis metro was up 1.2% from Q1 2023.
Rent has risen in every quarter for the past three years in the St. Louis metro.
Rent is expected to finish 2023 at $5.44 in the St. Louis metro.

Flex / R&D

The average Asking Rent was $8.63 in the St. Louis metro

Rent in the St. Louis metro was up 0.9% from Q1 2023.
Rent has risen in every quarter for the past three years in the St. Louis metro.
Rent is expected to finish 2023 at $8.92 in the St. Louis metro.

Office

The average Asking Rent was $22.94 in the St. Louis metro

Rent in the St. Louis metro was up 0.2% from Q1 2023.
Rent is expected to finish 2023 at $23.06 in the St. Louis metro.

Retail

The average Asking Rent was $16.01 in the St. Louis metro

Rent in the St. Louis metro was down 0.1% from Q1 2023.
Rent is expected to finish 2023 at $16.12 in the St. Louis metro.

Learn more about the Missouri markets from one of our professionals

Learn more about the Missouri markets from one of our professionals.