Birmingham, AL Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Birmingham, AL Housing Market Trends

With a population of 209,403, 90,867 total housing units (homes and apartments), and a median house value of $101,354, house prices in Birmingham are solidly below the national average.

Single-family detached homes are the single most common housing type in Birmingham, accounting for 59.50% of the city's housing units. Other types of housing that are prevalent in Birmingham include large apartment complexes or high rise apartments ( 31.24%), duplexes, homes converted to apartments or other small apartment buildings ( 6.98%), and a few row houses and other attached homes ( 1.53%).

People in Birmingham primarily live in small (one, two or no bedroom) single-family detached homes. Birmingham has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Birmingham's housing was primarily built during this period, from the '40s through the '60s. A full 42.82% of the city's housing hails from this era. Other housing ages represented in Birmingham include homes built between 1970-1999 ( 30.18%) and housing constructed before 1939 ( 15.76%). There's also some housing in Birmingham built between 2000 and later ( 11.25%).

Vacant housing appears to be an issue in Birmingham. Fully 20.79% of the housing stock is classified as vacant. Left unchecked, vacant Birmingham homes and apartments can be a drag on the real estate market, holding Birmingham real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Birmingham Home Appreciation Rates

Real estate appreciation rates in Birmingham's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.72% during the period.

NeighborhoodScout's data show that during the latest twelve months, Birmingham's appreciation rate, at 6.16%, has been at or slightly above the national average. In the latest quarter, Birmingham's appreciation rate has been 2.46%, which annualizes to a rate of 10.21%.

Relative to Alabama, our data show that Birmingham's latest annual appreciation rate is lower than 60% of the other cities and towns in Alabama.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Birmingham differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Birmingham - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Birmingham real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$101,354

Birmingham, AL HOME PRICES

> $1,185,000
0.7%
0.7%
$889,001 - $1,185,000
1.1%
1.1%
$592,001 - $889,000
1.5%
1.5%
$474,001 - $592,000
1.6%
1.6%
$356,001 - $474,000
4.3%
4.3%
$237,001 - $356,000
9.2%
9.2%
$119,001 - $237,000
24.6%
24.6%
$59,001 - $119,000
40.5%
40.5%
$0 - $59,000
16.6%
16.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Low for AL

Value Relative To Nation

Number Of Homes And Apartments:
90,867

Birmingham Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
66.85% 2.47%
8
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,220 / per month

Homeownership Rate

Owners
43.0%
43.0%
Renters
57.0%
57.0%
Vacant
20.8%
20.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
11.2%
11.2%
1970 - 1999
30.2%
30.2%
1940 - 1969
42.8%
42.8%
1939 or Older
15.8%
15.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
59.5%
59.5%
Townhomes
1.5%
1.5%
Small Apt. Buildings
7.0%
7.0%
Apt. Complexes
31.2%
31.2%
Mobile Homes
0.7%
0.7%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.2%
3.2%
1 Bedroom
13.2%
13.2%
2 Bedrooms
34.2%
34.2%
3 Bedrooms
39.3%
39.3%
4 Bedrooms
8.3%
8.3%
5 or more bedrooms
1.7%
1.7%
0.0% 100.0%
% OF HOMES