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1031 Exchange Homewood, Alabama

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Homewood due to their correlations with market demand, and conversely, vacancy rate.

Surrounding submarket Area

Homewood, Alabama is a part of the Central Birmingham submarket area.

Homewood Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Homewood, AL submarket area was $951, which is 30.10% higher than 2014 average rent. This represents a compounded annual growth rate of 5.40%. 2019 vacancy in Homewood, AL was 5.70%.

The total population of the city of Homewood, AL has grown 0.91% since 2010. As of 2018, the population was 25,397. The median household income of the Homewood was $77,629, which is 28.75% higher than the national average.

  • submarket area Central Birmingham
  • avg rent $951
  • rent growth 30.10%
  • vacancy 5.70%
  • median income $77,629
  • population (2018) 25,397
  • population growth 0.91%
  • vs. nat'l avg 28.75%

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