Birmingham, AL
Jefferson County · Pop. 196,353
Ranked #56 of 243 cities
52Moderate
Median Home Price
🏠$150K
3.0% YoY
Median Rent
🔑$950
2.5% YoY
Median Income
💰$35K
Rent Burden
📊33.5%
% of income to rent
Income to Buy
🏦$43K
annual income needed
Income to Rent
📝$38K
annual income needed
Price-to-Income
⚖️4.3x
Homeownership
🏡42.0%
Rent vs. Buy
Buy
$798/mo
Est. mortgage (7%, 20% down)
Need $43K/yr income
Rent
$950/mo
Median rent
Need $38K/yr income
How Birmingham Compares
| Metric | Birmingham | Alabama | National |
|---|---|---|---|
| Home Price | $150K | $217K | $410K |
| Rent | $950 | $982 | $1,500 |
| Income | $35K | $62K | $75K |
| Rent Burden | 33.5% | 28.5% | 30.0% |
Key Takeaways
- • Home prices in Birmingham are 63% lower than the national average.
- • Rent is 37% lower than the national average.
- • You need an income of $43K to comfortably buy a home here.
- • The homeownership rate is 42.0%, compared to 65.0% nationally.