Huntsville is the top, small metro area with the biggest rent hikes, according to the . With a rent growth rate of 7.9% in the city and more than 9% in the metro area, rent hikes in Huntsville far outpaced similar sized cities such as Bakersfield, Tacoma, and Tucson.
Rent growth is one reason why the Motley Fool lists Huntsville as one of the top 7 smaller towns worth investment dollars. The job market has grown by more than 13% in the last five years, but developers haven’t been able to keep up with the demand for housing in Huntsville.
The rental market in Huntsville also has a high price-to-rent ratio driven by the shortage of housing and the demand for off campus housing from students attending Alabama A&M and The University of Alabama in Huntsville.
Key Market Stats :
- Average rent in Huntsville is $932 per month, according to the most recent research from RENTCafé.
- Rents in Huntsville have increased by an average of 9% year-over-year.
- 40% of the housing units in Huntsville rent for between $701 and $1,000 per month.
- Renter-occupied households make up 42% of the occupied housing units in Huntsville.
- Neighborhoods in Huntsville with the lowest rents include Baker Park, Blue Haven – Holly Acres, and Brookhurst where rents average $613 per month.
- Neighborhoods in Huntsville with the highest rents include Wrightland-Jacobs Cove, Summerfield-Phillips Creek, and The Ridge where rents range from between $1,133 and $1,236 per month.
