The St. Louis market exhibited some fluctuations over the last year and ended the first quarter with a slight occupancy increase along with a marginal decline in average monthly market rent. While fluctuations are not unusual for the St. Louis market, any swings in the market fundamentals are normally minor. Per RealPage Inc., the average rent changes have historically been within 1.9% of the market’s five-year average. Overall occupancy has also remained consistent throughout these small swings and is generally between 93% and 94%. The local occupancy rates remain below the current national average occupancy rate of 95.2%. The average monthly rent is also lower at $899 for the St. Louis market compared to $1,365 for the entire U.S. market.