The housing market in Birmingham-Hoover, AL Metro Area is thriving. The median value of homes in this area is $232,200 which is significantly lower than the US median home value of $338,100. Although the national house appreciation rate was 8.27%, Birmingham-Hoover saw a 13.08% increase in appreciation year over year. This suggests that the region has seen an influx of new buyers and investors who are driving up prices. With more people looking to move into the area, now is a great time to purchase a home in Birmingham-Hoover, AL Metro Area.
The median home cost in Birmingham-Hoover Metro Area is $232,200. Home appreciation the last 10 years has been 78.4%. Home Appreciation in Birmingham-Hoover Metro Area is up 17.0%.
Average Age of Homes
- The median age of Birmingham-Hoover Metro Area real estate is 37 years old
The Rental Market in Birmingham-Hoover Metro Area
- Renters make up 26.3% of the Birmingham-Hoover Metro Area population
- 2.2% of houses and apartments in Birmingham-Hoover Metro Area, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.