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EXPLORE 1 Alabama MARKETToggle markets

Birmingham

Birmingham

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VACANCY

Apartment

Average Vacancy Rate 5.7%

Drifted upward by 20 basis points.
Highest level since Q1 2019.
Expected to finish 2021 at 5.6%.

Distribution / Warehousing

Average Vacancy Rate 13.7%

Drifted upward by 10 basis points.
Among the 20 highest vacancies nationally.
Expected to finish 2021 at 13.6%.

Office

Average Vacancy Rate 16.9%

Increased by 110 basis points.
Among the 20 lowest vacancies nationally.
Expected to finish 2021 at 17.8%.

Retail

Average Vacancy Rate 15.9%

No change since year-end 2020.
Among the 10 highest vacancies nationally.
Expected to finish 2021 at 17.5%.

RENT

Apartment

Average Asking Rent $981

Up 0.1% from year-end 2020.
Expected to finish 2021 at $1,000.

Distribution / Warehousing

Average Asking Rent $4.23

Up 0.2% from year-end 2020.
Expected to finish 2021 at $4.30.

Office

Average Asking Rent $20.48

Up 0.2% from year-end 2020.
Expected to finish 2021 at $20.30.

Retail

Average Asking Rent $15.82

Down 0.3% from year-end 2020.
Expected to finish 2021 at $15.25.

Learn more about the Alabama markets from one of our professionals

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