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Alabama
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VACANCY
Apartment
The average Vacancy Rate was 4.8% in the Birmingham metro
- Vacancy in the Birmingham metro drifted upward by 10 basis points.
- Vacancy is expected to finish 2022 at 5.0% in the Birmingham metro.
Distribution / Warehousing
The average Vacancy Rate was 8.9% in the Birmingham metro
- Vacancy in the Birmingham metro drifted downward by 30 basis points.
- The Birmingham metro had the lowest vacancy level since Q1 2017.
- Vacancy is expected to finish 2022 at 8.5% in the Birmingham metro.
Office
The average Vacancy Rate was 16.8% in the Birmingham metro
- No vacancy change since year-end 2021 in the Birmingham metro.
- The Birmingham metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2022 at 16.5% in the Birmingham metro.
Retail
The average Vacancy Rate was 16.0% in the Birmingham metro
- No vacancy change since year-end 2021 in the Birmingham metro.
- The Birmingham metro was among the 10 highest vacancies nationally.
- Vacancy is expected to finish 2022 at 15.4% in the Birmingham metro.
RENT
Apartment
The average Asking Rent was $1,167 in the Birmingham metro
- Rent in the Birmingham metro was up 4.1% from year-end 2021.
- Rent is expected to finish 2022 at $1,205 in the Birmingham metro.
Distribution / Warehousing
The average Asking Rent was $4.46 in the Birmingham metro
- Rent in the Birmingham metro was up 1.1% from year-end 2021.
- Rent Has risen for eight consecutive quarters in the Birmingham metro.
- Rent is expected to finish 2022 at $4.56 in the Birmingham metro.
Office
The average Asking Rent was $20.67 in the Birmingham metro
- Rent in the Birmingham metro was up 0.1% from year-end 2021.
- Rent Has risen for six consecutive quarters in the Birmingham metro.
- Rent is expected to finish 2022 at $20.73 in the Birmingham metro.
Retail
The average Asking Rent was $15.91 in the Birmingham metro
- Rent in the Birmingham metro was up 0.1% from year-end 2021.
- Rent is expected to finish 2022 at $16.03 in the Birmingham metro.