Now is a great time to add Birmingham real estate to your investment portfolio. Birmingham home prices are currently at historically low levels. Below are just a few of the reason why you should buy investment property in Birmingham, Alabama:
- It is one of the most affordable cities in the U.S. to live.
- Home prices are currently at historically low levels.
- It is one of the most important business centers in the Southeastern U.S.
- It ranks 54th in population among the nation’s top 268 metropolitan areas.
- The local economy is diversified with manufacturing, higher education, medical professions, and banking being among the top employers.
- It has three universities, fourÂ junior colleges, three technical schools, & three religious training schools.
- 46 percent of the population are renters.
- Rental rates vs. home values allow for excellent cash flow opportunities.
- Rental rates are on the rise.
- Rental unit demand is currently high.
The City of Birmingham, Alabama, is a municipal corporation under the laws of the State of Alabama. Birmingham is the largest city in the state with a population currently estimated at 242,820, and a metro population of 1,079,089.
Nestled at the foothills of the Appalachian Mountains at the cross-section of two major railroads, the city was once the primary industrial center of the southern United States. At the height of the nation’s manufacturing age, the city grew so fast in population, it was called the “Magic City.” Today, Birmingham has transformed itself into a medical research, banking and service-based economy, making it one of the nation’s most livable cities with a vibrant downtown, a burgeoning loft community, a world-class culinary scene and more green space per capita than any other city in the nation!
Birmingham also boasts 99 historic neighborhoods and is often referred to as the cradle of the American Civil Rights Movement. The average (high) temperature in the city is 65°; the average low is 51°. The city is centrally located in the southeast and easily accessible to major hubs in the region.
- Ranks 13th among the largest southeastern metropolitan areas
- Represents 24 percent of Alabama’s total population
- Represents 31 percent of Alabama’s total payroll dollars
- Ranks 48th in population among the nation’s top 300 metropolitan areas
- Home to 40,680 Businesses
Some of Birmingham’s Largest Employers:
University of Alabama at Birmingham
University of Alabama at Birmingham Medical Center
Baptist Medical Centers
Honda Manufacturing Plant
Mercedes â€“ Benz Manufacturing Plant
University of Alabama at Birmingham
Protective Life Insurance Headquarters
Regions Bank, NA. Headquarters
Wells Fargo Bank
BBVA Compass Bank
Alabama Power Company Headquarters
Local Area Attractions:
The Birmingham Civil Rights Institute is a large interpretive museum and research center in Birmingham, Alabama that depicts the struggles of the American Civil Rights Movement in the 1950s and 1960s. The Institute is located in the Civil Rights District, which includes the historic 16th Street Baptist Church, Kelly Ingram Park, Fourth Avenue Business District, and the Alabama Jazz Hall of Fame located in the Carver Theatre.
The Historic Alabama Theater is a movie palace in Birmingham, Alabama. It was built in 1927 by Paramount’s Publix Theatre chain as its flagship theater for the southeastern region of the United States. Seating 2,500 people at the time, it was the largest in the Birmingham Theatre district. The district was once home to a myriad of large theaters that featured vaudeville, performing arts, nickelodeons, and large first-run movie palaces. The Alabama is the only district theater still operating today. Built to show silent films, the Alabama still features its original Wurlitzer theater organ.
The Barbers Motor Sports Museum and Park is a 740 acres multi-purpose racing facility located on the eastern fringes of Birmingham, Alabama,near Leeds. It was built by George Barber, and includes the Barber Vintage Motorsport Museum. It has been the site of the IndyCar Series Grand Prix of Alabama since 2010 season. Barber is also the home of the North American Porsche Driving School and the Kevin Schwantz Motorcycle School.
Railroad Park is a 19-acre park in downtown Birmingham, Alabama, that opened in the fall of 2010. It was designed by landscape architect Tom Leader and built by Birmingham-based Brasfield & Gorrie. The park lies immediately south of the Norfolk Southern and CSX rail lines through downtown Birmingham.