Birmingham Real Estate Market: July 2024 Stats and Trends

Birmingham Real Estate Market: July 2024 Stats and Trends

Real estate has become a popular avenue for people looking to diversify their income streams and potentially hedge against inflation. Whether you’re a seasoned pro or just getting started in investing, Birmingham, AL, is certainly worth considering.

With lush landscapes, a booming job market, and plenty of entertainment options, Alabama's most populous city is certainly worth exploring. Known affectionately as ‘The Magic CIty’, for its rapid growth and expansion of its downtown area, Alabama locals and transplants alike can all find something to love in this charming city. 

Whether you’re into outdoor recreational activities, a vibrant live music scene, or southern comfort food, Birmingham truly has it all. 

Birmingham Real Estate Market: July 2024 Stats and Trends

But what about the Birmingham real estate market in July 2024? What do stats and trends look like contemporarily? Facts and figures are constantly changing, so we’ve gathered all the most up-to-date information for you.

Here are some of the top trends for the Birmingham real estate market (July 2024):

Birmingham General Statistics

  • Population (city proper): 196,353 

  • Population (metro area): 1,116,857 

  • Area (city proper): 147 sq. mi.  

  • Area (metro area): 4,488.7 sq. mi.

  • Median Age: 35.2 

  • GDP (metro area): $79 Billion

  • Unemployment rate (metro area): 2.2% (down .09% since February 2024)

  • Top employers: Encompass Health, Regions Bank, BFW Liquidations LLC, University of Alabama Birmingham, BE&K, Vulcan Materials, BL Harbert International, UAB Medicine, Motion Industries, Alabama Power.  

  • Highest paying jobs: Physician, Hospitalist Physician, Hematologist, Cardiologist, Internist, Medical Director, Hospitalist, Radiologist, Rheumatologist, Psychiatrist. 

  • Median income (per capita): $29,492

  • Median income (household): $39,326

Birmingham Real Estate Market (July 2024) Statistics

Birmingham Real Estate Market: July 2024 Stats and Trends

  • Neighborhoods: 88

  • Homes for sale as of July 2024: 1,602 

  • Median list price: $199.9K (up 2% since January 2024)

  • Median sold price: $197K (up 1.1% Since January 2024)

  • Sale-to-list price ratio: 96.24%

  • Median price per square foot: $122 

  • Median days on market: 45 (down 16% since January 2024) 

  • Rental vacancy rate: 6.4%

  • Homeowner vacancy rate: 3.6%

  • One-year appreciation rate: -5.6%

  • Average rent: $1,290 

  • Price-to-rent ratio: 14.8

  • Most expensive neighborhoods:  

Neighborhood 

Average Monthly Rent 

Median Listing Price

Redmont Park

$1,563

$1,085,631

Shoal Creek

$2,177

$694,048

Brook Highland

$2,358

$600,143

Highland Lakes

$2,295

$592,818

Forest Park

$1,698

$574,514


  • Least expensive neighborhoods:

Neighborhood

Median Monthly Rent 

Median Listing Price

Collegeville

$1,226

$64,581

Roosevelt

$1,283

$69,195

Fountain Heights North

$1,167

$70,983

Inglenook

$1,775

$80,550

Harriman Park

$1,516

$85,418

Final Thoughts: Birmingham Real Estate Market (July 2024) Trends

The Birmingham real estate market is constantly changing and evolving. But the potential for investors to profit is near-constant. Whether you’re an experienced real estate investor or brand new to the industry, the Birmingham real estate market could provide ample opportunity to build your portfolio.

Get Started Buying Homes With Evernest

Whether you’re purchasing one Birmingham home or one hundred, you don’t have to go it alone. 

If you’re ready to buy your first (or next) investment property, here are three steps to get started today:

This content was originally published on Evernest.co.

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