MARCUS: Missing-Aware Region Representation with Contextual Urban Signals for Rent Prediction

Multimodal urban data has expanded the applications of urban region representation learning, such as functional zone identification and real estate appraisal, but also introduces challenges caused by data incompleteness. Existing studies usually handle missing data through imputation, treating missingness as noise while ignoring its potential semantic value. To address this issue, we propose MARCUS, a missing-aware region representation model that treats missingness as a contextual urban signal. MARCUS models missingness in three stages: Intra Learning jointly encodes observed features and missing patterns, Inter Learning estimates modality reliability to guide cross-modal interaction, and Fusion uses missing-aware and time-aware gating to generate the final region embedding. We apply MARCUS to rent prediction, a task with long-term trends and seasonal fluctuations, using real-world datasets from Sydney and New York. Experimental results show that MARCUS achieves state-of-the-art performance, reducing MAE by 51.35% on Sydney and 12.62% on New York compared with the best baselines. Additional experiments, including an imputation-based ablation study and randomized additional-missingness analysis, further demonstrate the effectiveness of the proposed method.