St. Louis Area Needs 12,325 New Apartments by 2030 to Keep Pace with Demand Growth is Due to Aging Population, Immigration, Declining Home Purchases
WASHINGTON, D.C., June 12, 2017 – An aging population, international immigration and fewer home purchases are resulting in an increased need for new apartments. The St. Louis metro area is expected to need 12,325 new apartments by 2030 to keep up with local demand, according to a new study commissioned by the National Multifamily Housing Council (NMHC) and the National Apartment Association (NAA). The study found that, nationally, 4.6 million new apartments are needed by 2030. This growth would increase economic activity in St. Louis and across the country.