Experts say rental rates in the Birmingham-metro area are up about $300 since before pandemic

Published: Feb. 6, 2023 at 7:51 PM CST
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BIRMINGHAM, Ala. (WBRC) - There’s some good news and some bad news when it comes to rental rates in our area.

Researchers at said rent prices appear to be leveling off, but it’s still quite expensive to rent in our area.

They said we’re paying hundreds more in rent now compared to before the pandemic, and that’s showing no signs of changing.

The rollercoaster ride of rent prices seems to be leveling off—at least for now.

“The metro seems to be moderating a little bit. It’s sort of peaked in May of 2022. It’s been down about 10% since then, and you’re actually down slightly year over year, down about almost 2% year over year.”

Jon Leckie with said it’s normal to see rent rates rise and fall until they start to flatten, but he said the average renter is paying significantly more for rent now in our area compared to just a couple of years ago.

“When you start looking at, you know, 2019 to 2022, so, you know, right around when the pandemic started to now, you’ve got a 30% increase and that equates to about $299 in the monthly median price,” Leckie explained.

Leckie said that’s due in part to a growing number of people moving to the Southeast.

He said when demand is high, rental rates will follow.

“A higher proportion of people, of renters looking to move into Birmingham in the third quarter of 2022, than it had people wanting to move out. So, the population of Birmingham is growing, that’s going to put upper pressure on rent prices, and an increased demand for those rents,” Leckie said.

Experts said renters don’t have much power to control how much a landlord raises rent, and the state of Alabama doesn’t have rent control.

But Leckie said you can compare rates to other units in the market, and try to negotiate a reasonable rate with your landlord.

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