Sell Your Commercial Property In St. Louis, MO

Who rents in St. Louis

St. Louis had 288,512 residents in the 2020–2024 American Community Survey, about 4.7% of Missouri's 6,191,814. Renters hold 79,279 of the city's 144,891 occupied homes, or 54.7%, against 31.9% across Missouri. St. Louis is independent of any county, so the Census county-equivalent figures match the city's. It holds 9.9% of the 799,814 renter households in the state.

Hospitals and a research university are among the largest local employers. BJC HealthCare reports 48,162 employees and 24 hospitals across its system, and Barnes-Jewish Hospital calls itself the largest private employer in the region. Washington University counted 23,434 employees in fiscal 2025 and 15,952 students in fall 2025, and it cites a St. Louis Business Journal ranking that puts it second among the region's employers.

Corporate and defense payrolls add to it. Centene lists its headquarters at 7700 Forsyth Boulevard in the St. Louis area, and Clayton, just west of the city, says its downtown holds Fortune 500 headquarters. Boeing reports more than 18,000 employees in the region and named St. Louis the headquarters of its defense business in February 2026. Greater St. Louis, Inc. adds that the National Geospatial-Intelligence Agency opened a $1.75 billion headquarters north of downtown and that Scott Air Force Base employs nearly 13,000 people in the region.

Rents and what tenants can afford

Median gross rent was $997 over 2020–2024, below the $1,033 statewide median. Median household income was $56,160, against $70,702 in Missouri. Among renters, 45.7% (about 34,188 households) pay 30% or more of income on housing, nearly level with the state's 45.6%. The 25.0% paying half or more, 18,680 households, is above the state's 22.2%.

HUD's St. Louis, MO-IL area, which includes St. Louis city, publishes these FY2027 fair market rents:

Source: HUD FY2027 FMR schedule. The area also covers Franklin, Jefferson, Lincoln, St. Charles, St. Louis and Warren counties on the Missouri side, so it runs above the city's median.

The apartment stock

44,734 of the city's 174,111 housing units, or 25.7%, are in buildings of five or more units, compared with 12.8% statewide, and the city holds 12.4% of Missouri's such units. Buildings of 20 or more units account for 69.9% of the city's 5+ unit total. By size, 8,208 units are in 5–9 unit buildings, 5,240 in 10–19, 8,005 in 20–49 and 23,281 in buildings of 50 or more. Another 45,837 units sit in two-to-four unit buildings, and detached houses are 43.4% of the stock against 70.5% in Missouri.

The buildings are old, and that shapes every operating budget. The median year built is 1938, versus 1978 statewide, and 86.2% of units predate 1980 compared with 52.7% in Missouri. Only 6,440 units (3.7%) were built in 2010 or later, and 750 in 2020 or later. Vacancy is 29,220 units, or 16.8%, against 11.2% for the state. Buyers read that as roofs, boilers, wiring and unit turns, and anyone looking to sell commercial property in St. Louis, MO should expect that work priced into an offer.

Property taxes on St. Louis apartments

Missouri's RSMo 137.016 defines residential property as real property improved by a structure used for residential living, and it covers buildings with five or more dwelling units. The State Tax Commission says residential real property is assessed at 19% of true value, while other property is assessed at 32%. The City Assessor values real property on odd-numbered years, and the Collector of Revenue sends notices each November, with taxes due by December 31.

The Assessor rate sheet, published October 16, 2025, shows a residential total of $8.2257 per $100 of assessed value and $9.7912 for commercial. School levies make up $4.9294 of the residential rate, the city's own levies total $1.5691, and the library adds $0.5489 and the junior college $0.2448. On a $2 million building classed as residential, the assessed value is $380,000 and the bill is about $31,258, or roughly 1.56% of market value. The sources we opened describe a two-year cycle, not a reassessment triggered by a sale, and we did not find a transfer tax, so confirm both with the Assessor.

Landlord rules for St. Louis owners

RSMo 441.043 bars cities from regulating the amount of rent on private residential or commercial rental property, and since August 28, 2025 it also bars local caps on security deposits. On deposits, RSMo 535.300 limits a landlord to two months' rent, requires a federally insured account, and gives the landlord 30 days after the tenancy ends to return the deposit or send an itemized list. Wrongful withholding costs twice the amount withheld.

A month-to-month tenancy ends on one month's written notice under RSMo 441.060. The sections we opened set no pre-suit notice period for unpaid rent. Under RSMo 535.030, a summons must be served at least four days before a court date set within 21 business days.

Anyone planning to sell commercial real estate in St. Louis, MO should know the city adds an inspection layer for rentals. Under Ordinance 71835 the whole city is a Housing Conservation District, and a Certificate of Inspection is required before a rental unit is occupied. Per the Building Division, the certificate lasts 12 months, rentals are reinspected every three years or when occupancy changes, and an application costs $120, or $200 for an occupied unit without a certificate.

What this means if you own a building in St. Louis

Sellers hold old stock in a city with a majority-renter population and above-average vacancy, supported by hospital, university, corporate and defense payrolls. Buyers will price the 16.8% vacancy rate, an $8.2257 residential rate and the inspection cycle. Our cap rate calculator shows how those costs move value, and our guide on St. Louis apartment property taxes covers the tax side. If you plan to sell commercial property in St. Louis, MO, send the address and unit count through our seller page, and we will tell you plainly whether it fits what we buy. Bring a current rent roll, the Certificate of Inspection dates and your last two tax bills, because those documents answer most of a buyer's first questions.