Birmingham is Alabama's largest city. The city was recently named an "All-America City" by the National Civic League, which recognizes cities for their innovation, civic engagement, inclusiveness and collaboration. Birmingham has an interesting history that includes a central role in the 1963 Civil Rights movement and a large iron and steel industry. Today, it is a modern city with a thriving health and finance industry. Birmingham has a population that is a little over 212,000. The median age is 35 years old, reflecting the fact the city has industries and jobs that appeal to young professionals. The city has pushed development projects to revitalize older areas, and these developments have been instrumental in encouraging people to move back into the city.
Birmingham, AL is a great place for affordable rent-to-own homes! With a median household income of over $38,832 and a median rent of $870, the Birmingham, AL rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Birmingham, AL. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
Birmingham, AL is seeing rapid growth and Birmingham, AL's' housing market remains optimal with an average home price that is -55% below the 2022 national average. Birmingham, AL is part of Jefferson county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2022 for county Jefferson is 0.58% which is below the national average, which is 0.99%.
Birmingham, AL has a walk score of
Birmingham, AL has a bike score of
The state tax rate is 2.0 to 5.0% on top of the federal tax rate of 10 to 37%.