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Birmingham

Birmingham

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VACANCY

Apartment

The average Vacancy Rate was 4.1% in the Birmingham metro

Vacancy in the Birmingham metro drifted upward by 10 basis points.
Vacancy is expected to finish 2024 at 4.2% in the Birmingham metro.

Distribution / Warehousing

The average Vacancy Rate was 10.3% in the Birmingham metro

Vacancy in the Birmingham metro drifted upward by 10 basis points.
The Birmingham metro was among the 20 highest vacancies nationally.
Vacancy is expected to finish 2024 at 10.2% in the Birmingham metro.

Office

The average Vacancy Rate was 16.9% in the Birmingham metro

Vacancy in the Birmingham metro drifted upward by 20 basis points.
The Birmingham metro was among the 20 lowest vacancies nationally.
Vacancy is expected to finish 2024 at 17.1% in the Birmingham metro.

Retail

The average Vacancy Rate was 15.2% in the Birmingham metro

Vacancy in the Birmingham metro drifted upward by 20 basis points.
The Birmingham metro was among the 10 highest vacancies nationally.
Vacancy is expected to finish 2024 at 14.9% in the Birmingham metro.

RENT

Apartment

The average Asking Rent was $1,238 in the Birmingham metro

Rent in the Birmingham metro was up 0.3% from Q2 2024.
Rent is expected to finish 2024 at $1,240 in the Birmingham metro.

Distribution / Warehousing

The average Asking Rent was $5.30 in the Birmingham metro

Rent in the Birmingham metro was up 0.4% from Q2 2024.
Rent has risen in every quarter since Q1 2020 in the Birmingham metro.
Rent is expected to finish 2024 at $5.34 in the Birmingham metro.

Office

The average Asking Rent was $21.35 in the Birmingham metro

The Birmingham metro had the seventh fastest rent growth in the nation, and the second in the South Atlantic region, behind only Knoxville.
Birmingham metro had its fastest rent rate of increase in six quarters.
Rent is expected to finish 2024 at $21.39 in the Birmingham metro.

Retail

The average Asking Rent was $16.36 in the Birmingham metro

Rent in the Birmingham metro was up 0.2% from Q2 2024.
Rent is expected to finish 2024 at $16.43 in the Birmingham metro.

Learn more about the Alabama markets from one of our professionals

Learn more about the Alabama markets from one of our professionals.