As an investor, you’re looking for a market
 with a combination of high yields, strong economic growth, high employment
and a low cost of living.That’s the gold standard. 
In the last 10 years, the Birmingham metropolitan area grew by about 4.3%,
and the city is now home to more than 1.1 million residents. The Magic City
 earned the #2 spot in U.S. News and World Report’s “Best Places to Live in
 Alabama in 2022–2023” ranking.
 Birmingham’s homes boast a median listing price of $189,500. At just $123
 per square foot, Birmingham real estate is affordable, clocking in at just over
half of the nationwide median of $227 per square foot.
 But the city’s housing stock has also rapidly appreciated, rising 13.6% in the
 last year. For this reason, Realtor.com places the Magic City among the top 25
 housing markets for 2022.

BIRMINGHAM

According to Zillow, the Birmingham housing market saw a 19.3% year-over- year rise in home values in July 2022, which is higher than the national average of 18.2%. This bodes well for investors who want to buy real estate in healthy, appreciating markets. As per RentCafe, the city sports a cost of living that is 6% below the national average. In fact, the Waller, Weeks, and Johnson Rental Index notes that Birmingham has the 18th lowest rent out of 107 major metropolitan areas. Despite being relatively affordable compared to other metro areas, rents in Birmingham have increased by 11.47% since 2021, making it an attractive rental market for investors. The Birmingham metro area grew 0.82% in 2022, gaining 10,000 new residents. Wages have also grown, with average incomes in the city up by 4% this year.

EMPLOYMENT

According to the U.S. Bureau of Labor Statistics (BLS), Birmingham’s unemployment rate decreased from 4.0% in June 2021 to 3.0% in June 2022. That’s a full 0.6 percentage points lower than the national unemployment rate. The Birmingham metro is home to three Fortune 1000 companies, including Regions Financial Corporation, Encompass Health, and Vulcan Metals Company. The Magic City’s strong employment figures have earned it acclaim from Forbes as a top 10 promising job market.

DOWNTOWN REVAMP

Through financing and historic tax incentives, Birmingham has worked with local, national, and international industries to bring the Magic back to Birmingham. More than $1 billion in capital investments have been deployed to completely revitalize the downtown business district, and the investment is paying big dividends for businesses and the community as a whole. Downtown Birmingham is experiencing a resurgence with new investment and development. Luxury travel magazine Condé Nast Traveler named Birmingham one of “the 22 best places to go in 2022”. The area attracts residents and visitors alike, with features like the Jones Valley Teaching Farm, the gorgeous Alabama Theater, a bustling downtown restaurant and hotel district, and the only LEED-certified library in the state. The Northern Beltline project will receive $369 million in federal funding over five years. An economic analysis estimated that the completed project could create nearly 14,000 jobs and impact the local economy to the tune of $2.67 billion.

CONCLUSION

From historic renovations to new educational facilities to new luxe hotels and lush outdoor spaces, Birmingham’s renaissance is in full swing. With property values growing and rental demand as strong as ever, Birmingham is the perfect market for long-term cash flow investors. And, with MartelTurnkey at the helm, you can rest assured that your investment is a priority long before you cut a check. As a full-service turnkey provider we work hard from day one to ensure every property meets the highest quality standards, every tenant is stringently vetted, and every investment is managed with the care we would take with our own portfolios. We don’t just sell Birmingham investments, we personally own them. The rehab work, tenant quality, and ongoing management of your properties are directly tied to the success of our own investments- in other words, our interests are aligned. So let’s succeed together.