Job growth in St. Louis has been consistently growing; producing over 45% of the state of Missouri’s economic output. The city is home to 15 Fortune 1000 companies and 9 Fortune 500 companies. Job growth is projected to rise 23.9% (> 2% YoY) for the next decade.
The St. Louis economy is highly diverse with major industries including: Health science and services, education, financial and information services, agricultural business, multi-modal logistics and manufacturing, and biotech/tech industries. This economic diversity allows St. Louis to remain robust and stable.
Path of progress the Cortex Innovation Community is attracting many high-tech startups and industries to St. Louis. Nestled between Washington University in St. Louis and St. Louis University, this district is pulling in young talent from the coasts. In addition, downtown St. Louis is home to the Regional Entrepreneur Exchange (T-Rex), a business startup incubator bringing innovative tech jobs to the region.
High rental demand due to the number of young, educated students and residents moving to the area, the demand is increasing because of the shift in St. Louis industries and prestigious universities. Renters make up 32% of the market with a median household income of $61,500. As a result, the demand for multifamily housing is at an all-time high.