Looking for Affordable Rentals? Birmingham Is the Place

Birmingham is the Place for Affordable Rentals

One of the most common factors in renting a house anywhere to many tenants is price. Housing can be expensive and typically takes up at least 30% of a household’s budget, so it only makes sense to find the best deals and most affordable options. For those looking for rental houses in Birmingham, you’re in luck: Birmingham happens to be one of the most affordable cities for renters. According to Kiplinger’s: “Birmingham holds appeal for people of all ages. The metro area, which includes the neighboring city of Hoover, offers budget-friendly Southern living with a big-city feel.” Specifically, the report showed that the average monthly rent tenants pay in the metro area is $685 on a median household income of $27,307 – which means the average rent is right at 30% of monthly income. (The national average is $899 per month on $32,051, or 34%.) Also, cost of living is 11.8% below the national average, with a rental vacancy rate of 11.6%. What’s better is that the area’s unemployment rate is 5.6%, which is over a full point lower than the state rate of 6.8% and two points below the national rate of 7.6%. For tenants in the Magic City, that’s great news. Birmingham real estate has seen a renaissance of sorts lately, as more opportunities for housing and employment alike have come to the metro area. Prices have also risen by 4% over the past year, suggesting there’s a lot of healthy activity that benefits everyone from owners to renters. In short, Birmingham, AL is one of the most affordable places to live not just in the Southeast, but in the country as a whole. If you are looking for homes to rent in Birmingham, AL and want to take advantage of the city’s affordable living, contact gkhouses.com and call us today at 205.940.6363.

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