{"id":81727,"date":"2019-07-15T02:50:28","date_gmt":"2019-07-15T09:50:28","guid":{"rendered":"https:\/\/www.rentcafe.com\/blog\/?p=81727"},"modified":"2019-07-22T06:42:48","modified_gmt":"2019-07-22T13:42:48","slug":"alabama-mid-year-rent-report-june-2019","status":"publish","type":"post","link":"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/alabama-mid-year-rent-report-june-2019\/","title":{"rendered":"Alabama Mid-Year Rent Report &#8211; June 2019"},"content":{"rendered":"<ul>\n<li><em>The U.S. average rent increased by 3.2% ($45) year over year reaching $1,465 in June 2019, up by 0.8% ($12) month over month, according to\u00a0<a href=\"https:\/\/www.yardimatrix.com\/\" target=\"_blank\" rel=\"external noopener noreferrer\" data-wpel-link=\"external\">Yardi Matrix<\/a>\u00a0data.<\/em><\/li>\n<li><em>Gulf Shores, AL renters saw the highest annual rent increase in June, reaching<\/em> <em>$1,063 per month.\u00a0<\/em><\/li>\n<li><em>Among the state&#8217;s largest cities, Auburn apartments are the most expensive, while apartments in Decatur have the cheapest rents.\u00a0<\/em><\/li>\n<\/ul>\n<div>\n<div data-tid=\"messageBodyContainer\">\n<div data-tid=\"messageBodyContent\">\n<div>\n<div>\n<div>\n<h3>Mid-year the\u00a0national average rent sees a spike\u00a0as peak rental season is in full effect<\/h3>\n<p>In true seasonality fashion, June brings rent increases consistent with the end of the second quarter. Nationally, average rent prices reached\u00a0<strong>$1,465<\/strong>\u00a0following a 3.2% annual increase and up 0.8% since last month\u00a0\u2014 the highest monthly jump since May 2018.\u00a0 Compared to last June, renters pay $45 more on average\u00a0according\u00a0to the latest\u00a0rent survey from <a title=\"https:\/\/www.yardimatrix.com\/\" href=\"https:\/\/www.yardimatrix.com\/\">Yardi Matrix<\/a>.<\/p>\n<p>Since the beginning of the year, apartment rents have increased by 2.6% \u2013 that\u2019s an extra $37 added to the average monthly rent in six months. Rent increases during the first half of the year are typically more accelerated, whereas during the second half of the year they\u2019re expected to slow down, a typical pattern confirmed by rent evolution in the past years.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h3>Renting in Alabama&#8217;s larger cities in June 2019<\/h3>\n<p>The average rent in Alabama&#8217;s larger cities is generally <strong>lower than the national average rent<\/strong>. Among the larger cities analyzed, <strong>Huntsville<\/strong> had the highest annual rental growth (7.6%). Notably, although nearby\u00a0<strong>Madison<\/strong> has a population 4 times smaller than Huntsville, it had a higher increase since June last year (7.7%)\u00a0over the year and\u00a0<strong>0.5%<\/strong> month-over-month, while\u00a0Hunstville apartments\u00a0jumped by <strong>7.6%<\/strong>,\u00a0<strong>$59\u00a0<\/strong>more expensive than the same month last year, quickly followed by <strong>Auburn<\/strong> with 7.5% y-o-y. The slowest rising rents were in <strong>Hoover<\/strong>, where prices grew by <strong>2.6%<\/strong>.<\/p>\n<p><script id=\"infogram_0_c501f893-6ade-4b9b-9114-b2943695e99d\" title=\"Alabama - RentReport June\" src=\"https:\/\/e.infogram.com\/js\/dist\/embed.js?WZg\" type=\"text\/javascript\"><\/script><\/p>\n<p>Of the larger cities analyzed, <strong>Auburn<\/strong> apartments are the state&#8217;s most expensive for renters, with an average rent of <strong>$1,221<\/strong>, followed by apartments in <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/tuscaloosa-al\/\">Tuscaloosa<\/a>, where the average monthly rent is <strong>$1,112<\/strong>. On the other hand, the cheapest city to rent an apartment in is <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/decatur-al\/\">Decatur<\/a>, with an average of <strong>$562<\/strong>\/month.<\/p>\n<p>Among the state&#8217;s <strong>mid-size and small cities<\/strong>, <strong>Gulf Shores<\/strong>\u00a0displayed the\u00a0highest annual rent increase:\u00a0<strong>12.7%<\/strong>, reaching <strong>$1,063<\/strong> per month in June.<\/p>\n<h3>Mid-year rent changes in Alabama<\/h3>\n<p>Since the beginning of the year, there has been an increase in average rent in almost all of the cities in Alabama. The highest increase in rent can be seen in <strong>Gulf Shores<\/strong>, where average rent went up by\u00a0<strong>13.6%<\/strong>, or\u00a0<strong>$127<\/strong>. Following closely behind is <strong>Tuscaloosa\u00a0<\/strong>with a <strong>6.3%<\/strong>\u00a0or $66 increase since the beginning of 2019. At the other end of the spectrum, the slowest increase in average rent in the first half of the year can be seen in\u00a0<strong>Auburn<\/strong>, where rent went down by\u00a0<strong>0.4%<\/strong>, or\u00a0<strong>$5<\/strong>.<\/p>\n<p>To compare the rental market in Alabama with other cities in the U.S., you can also check our\u00a0<a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/2019-mid-year-rent-report-national-average-rent-ends-first-half-year-1465\/\">national rent report<\/a>.<\/p>\n<h3>Methodology<\/h3>\n<div>\n<div>\n<p><em><u><a tabindex=\"-1\" title=\"https:\/\/www.rentcafe.com\/\" href=\"https:\/\/www.rentcafe.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">RentCafe.com<\/a><\/u>\u00a0is a nationwide apartment search website that enables renters to easily find apartments and houses for rent throughout the United States.<\/em><\/p>\n<p><em>The data on average rents included in our reports comes directly from competitively-rented (market-rate) large-scale multifamily properties (50+ units in size), via telephone survey. The data is compiled and reported by our sister company <\/em><u><i><a tabindex=\"-1\" title=\"https:\/\/www.yardimatrix.com\/\" href=\"https:\/\/www.yardimatrix.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Yardi Matrix<\/a><\/i><\/u><em>, a business development and asset management tool for brokers, sponsors, banks and equity sources underwriting investments in the multifamily, office, industrial and self-storage sectors. Fully-affordable properties are not included in the survey and are not reported in rental rate averages. Local rent reports include only cities with a statistically-relevant stock of large-scale multifamily properties of 50+ units.<\/em><\/p>\n<\/div>\n<\/div>\n<div class=\"usagerights\">\n<div class=\"fairuse\">\n<h3>Fair use and redistribution<\/h3>\n<p>We encourage you and freely grant you permission to reuse, host, or repost the images in this article. When doing so, we only ask that you kindly attribute the authors by linking to <a href=\"https:\/\/www.rentcafe.com\">RentCafe.com<\/a> or this page, so that your readers can learn more about this project, the research behind it and its methodology.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. average rent increased by 3.2% ($45) year over year reaching $1,465 in June 2019, up by 0.8% ($12) month over month, according to\u00a0Yardi Matrix\u00a0data. Gulf Shores, AL renters saw the highest annual rent increase in June, reaching $1,063 per month.\u00a0 Among the state&#8217;s largest cities, Auburn apartments are the most expensive, while apartments&hellip;<\/p>\n","protected":false},"author":149,"featured_media":81916,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16366],"tags":[],"class_list":["post-81727","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-local-rent-reports","gallery-content-unit"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Alabama Mid-Year Rent Report - June 2019 - RentCafe rental blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/alabama-mid-year-rent-report-june-2019\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alabama Mid-Year Rent Report - June 2019\" \/>\n<meta property=\"og:description\" content=\"The U.S. average rent increased by 3.2% ($45) year over year reaching $1,465 in June 2019, up by 0.8% ($12) month over month, according to\u00a0Yardi Matrix\u00a0data. 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