Birmingham Alabama is the largest city in Alabama. It is experiencing a dramatic renaissance that has brought revitalization to the downtown, massive new manufacturing plants, and a great deal of new jobs. The “Magic City” has a diverse and stable economy, and a broad array of cultural attractions, along with a rich history. Forbes Magazine gushes, “After years of investing in revitaliza-tion efforts turning old warehouses into offices, opening new parks, building a minor league baseball stadium Birmingham is finally seeing the big payoff!” Several factors make Birmingham, Alabama a strong real estate investment market.
As the cultural and entertainment capital of Alabama, Birmingham has numerous art galleries in the area including the Birming-ham Museum of Art, the largest art museum in the Southeast. Downtown Birmingham is also home to the state’s major ballet, opera, and symphony orchestra companies such the Alabama Ballet, Alabama Symphony Orchestra, Birmingham Ballet, Birming-ham Concert Chorale, and Opera Birmingham. Along with Ruffner Mountain Park and the proposed Red Mountain Park Birming-ham would rank first in the United States for Green Space per resident.
- Ranked #2 strongest Auto Industry in the United States.
- “Forbes” magazine ranks Birmingham 1 of 15 “Up and Coming Downtown’s”, and as “#12 Most Affordable City.”
- More than 50% of Fortune 500 Companies have a presence in Birmingham, and two are headquartered here, Regions Financial Corporation (312) and Graybar Electrics (470).
- Home to three top international construction and engineering firms, and two major soft-drink bottlers. Labeled the “Pittsburgh of the South” manufacturing in Birmingham employs 43,900, and it is home to three of the nation’s seven iron pipe manufacturers.
- In the last two years, Birmingham unemployment dropped to 6% the sixth best in the nation, according to the U.S. Department of Labor.
- Birmingham’s GDP growth of 3.8% outpaced the US average of 2.5% GDP, and the city consistently ranks as one of America’s best places to work and earn a living based on competitive salary rates and low living expenses.
- The average foreclosure price in Birmingham, Alabama is $51,500, nearly half the national average of $113,000. There is strong demand for rental property in Birmingham with 41.6% of the properties serving as rentals
MSA Population Ranking: 1,145,647
stats from en.wikipedia.com
Median Household Income
stats from en.wikipedia.org
Average Annual Appreciation Rate
stats from www.neighborhoodscout.com