Rent, population, and median household income are important factors to consider for a 1031 exchange in Alabaster due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Alabaster, Alabama is a part of the North Birmingham submarket area, and contains zip codes 35007 and 35114.
Alabaster Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Alabaster, AL submarket area was $1,020, which is 17.65% higher than 2014 average rent. This represents a compounded annual growth rate of 3.30%. 2019 vacancy in Alabaster, AL was 4.90%.
The total population of the city of Alabaster, AL has grown 9.84% since 2010. As of 2018, the population was 33,340. The median household income of the Alabaster was $78,071, which is 29.49% higher than the national average.
- submarket area North Birmingham
- avg rent $1,020
- rent growth 17.65%
- vacancy 4.90%
- median income $78,071
- population (2018) 33,340
- population growth 9.84%
- vs. nat'l avg 29.49%
- zip codes 35007 35114