ST. LOUIS — The St. Louis region in the first quarter saw one of the largest annual rent increases in the country, according to new data.
CoStar Group, through its Apartments.com subsidiary, said year-over-year rent for multifamily units in St. Louis rose 4.6%, to an average of $1,156 a month. Beating St. Louis for percentage growth were Columbus, Ohio (5% and $1,220 a month), Cincinnati (6.1% and $1,174 a month) and Indianapolis (6.6% and $1,193 a month).
Still, St. Louis rents are cheaper than in five of the six markets that rounded out the top 10 for rent growth. Northern New Jersey, where average rent is $1,974 a month, saw rents grow 4.5%. It was followed by San Diego (4.4% and $2,368 a month), Boston (4.2% and $2,714 a month), Chicago (4.1% and $1,668 a month), Miami (3.8% and $2,250 a month) and Cleveland (3.7% and $1,101 a month).
