Birmingham Trends & Statistics 2018-2019
In this section, you will learn about the top factors that make Birmingham one of the most popular real estate markets for 2019, including: affordable home values, passive income, and stability. Explore Birmingham’s housing market, population, and employment trends in the tabs to learn more.
Note: This page was updated for quality and accuracy on November 16, 2018.
Data Sources :
Birmingham home values are more affordable than many other U.S. real estate markets today
- The median price of the average 3 bedroom home in Birmingham was $100,000 in January 2018. This is 51% less than the median value nationwide. As of September 2018, 3 bedroom home values have risen to a median $108,000, which is 47% less than the national average.
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In the neighborhoods where Real Wealth Network members invest home values range from about $80,000 to $160,000. This is a median price of $110,000 which is 45% less than the average 3 bedroom home nationwide.
- This shows us that Birmingham real estate is uniquely affordable, but perhaps this won’t be the case for long.
The median rent to purchase price for homes in Birmingham is higher than more expensive U.S. cities.
- This shows us that there’s an opportunity to generate passive monthly cash flow in Birmingham at a significantly higher rent-to-purchase ratio than the national average.
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In January 2018 the median monthly rent of an average 3 bedroom home in the U.S. was $1,427, which is 0.71% of the median purchase price of $202,000.
- The median monthly rent of the average 3 bedroom home in Birmingham is $995, which is over 1.00% of the median purchase price of $100,000.
- In the neighborhoods where Real Wealth Network members invest, the median monthly rent of R.E.A.L. turnkey properties is $1,099. This is also 1.00% of the median purchase price of $110,000.
Birmingham’s real estate market is more stable than many other U.S. markets, which likely makes investing here less-risky
- Over the last six years, the average 3 bedroom single family home in the Birmingham metro has appreciated at a steady rate of 0.82% per year.
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In the specific neighborhoods where Real Wealth Network members invest, the 7 year appreciation rate is slightly higher – 0.92% per year.
Birmingham rents are rising at a faster rate than the national average
Trends an der Bevëlkerung
In the last few decades, Birmingham has undergone a major revitalization, becoming a hub for publishing, medical research, banking, construction, and service-based companies. The city’s largest private companies include O’Neal Industries, EBSCO Industries, Drummond Co., Inc., and Brasfield & Gorrie, LLC.
Between August 2017 and August 2018 the number of jobs in the Birmingham metro increased at a rate of 1.24%.
This shows us that Birmingham is experiencing consistent growth year after year. And although this growth is not staggering, it’s another indicator that Birmingham’s real estate market will continue to be stable in years to come.