Birmingham Real Estate Market 2023: Housing Forecast & Predictions

2023 Housing Market Overview

Birmingham Real Estate Market 2023

Birmingham Real Estate Market Overview

Metro Population: 1.2 M

Median Household Income:$38,000

Unemployment Rate:1.9%

Median Home Price*:$238,515

Median Monthly Rent*:$1,341

Birmingham Real Estate Market 2023

Interested in investing in the Birmingham real estate market in 2023? On this page you’ll learn about housing market trends and statistics to help you make that decision.

About Birmingham

Birmingham is located in the north-central part of the state of Alabama and lies near the plateau of the Appalachian Mountains. It is also the county seat of Jefferson County, the most populous county in Alabama.

The Birmingham metropolitan statistical area, also known as Greater Birmingham, is the largest MSA in Alabama and the 50th most populous in the United States, with a population of about 1.12 million people. It consists of six counties (Bibb, Blount, Chilton, Jefferson, St. Clair, and Shelby) centered in Birmingham. Among the cities in Greater Birmingham are Bessemer, Homewood, Irondale, and Fairfield.

Birmingham was named after Birmingham, England, a major industrial city in the United Kingdom. The Magic City, so called because of the rapid growth rates it experienced during the industrial age, emerged as an iron and steel production giant in the Southern part of the United States.

The manufacturing industry in Birmingham still thrives today, but other industries, such as banking, construction, telecommunications, and healthcare have gained prominence as a result of diversification. Birmingham is also home to one Fortune 500 company, Regions Financial, as well as five other Fortune 1000 companies, contributing significantly to the city’s economic growth.

The city has a strong housing market, with prices rising steadily over the past decade. The local job market is also strong and expected to grow, leading to an increase in demand for housing.

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Major Employers in Birmingham

News

  • "Ranked 3rd for economic growth potential based on national 2019 survey" - BhamNow
  • "Ranked one of the top American cities of the future" - FDI Intelligence
  • "Saw the third greatest increase in investor home buying activity from 2021 - 2022" - Forbes
  • "Governor Kay Ivey announces growth projects pumping $7.7 billion into Alabama’s economy" - Alabama.gov
  • "Ranked #1 in America's Most Affordable Cities" - Forbes
  • "Ranked #1 in America's Next Hot Food Cities" - Zagat
  • "Ranked #7 Most Affordable Market" - Zillow
  • "#2 in Where to Buy a Home if You Can’t Afford a Big Down Payment" - Business Insider
  • "#3 Best Place for a Block Party" - Business Insider
  • "Birmingham Real Estate Market Moving in Right Direction" - Fortune Builders
  • "#7 city for Young Professionals Population Growth" - Birmingham Business Alliance

Property Teams

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Sample properties

Sample properties can only be viewed in the Investor Portal, which can be accessed by RealWealth members who are logged in at Investor.RealWealth.com.

Disclaimer: The information provided on this page is for educational purposes only. RealWealth makes no warranty or representation as to the accuracy, completeness or reliability of this information. Please be advised that this content may contain errors, is subject to revision at all times, and should not be relied upon for any purpose. Under no circumstances shall RealWealth be liable to you or anyone else for damage stemming from the use or misuse of this information.