Quick facts: Birmingham, AL

Quick Facts

90.5
Cost of Living
below US average
196,910
Population
88.7
Crime Rate per 1000
above US average
$42,464
Median Income
below US average
$310,000
Median House Price
above US average
$2055.29
Average Rent
above US average
19%
Poverty Rate
above US average
3.6%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $42,464.

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Income Needed to Buy

βœ— Stretch
$97k/year
Based on $310,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $97k vs median $42,464
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Income Needed to Rent

⚠ Stretch
$88k/year
Based on $2055.29/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $88k vs median $42,464
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Birmingham, AL

Birmingham, Alabama, nestled in the central part of the state, is known for its rich history, vibrant culture, and diverse economy. Established in 1871, it quickly became a major industrial center, particularly known for its steel production. Today, Birmingham is a thriving city with a population of around 210,000, marked by a blend of historical landmarks and modern developments. Notable attractions include the Birmingham Civil Rights Institute, which honors the city's pivotal role in the civil rights movement, and the Birmingham Museum of Art, featuring an extensive collection of art from various periods and cultures. The city’s culinary scene is also noteworthy, offering everything from traditional Southern cuisine to innovative dining experiences. Birmingham boasts beautiful green spaces like Railroad Park and the Birmingham Botanical Gardens, ideal for outdoor enthusiasts. The city serves as a healthcare and education hub, home to institutions like UAB (University of Alabama at Birmingham). With its southern charm, dynamic arts scene, and historical significance, Birmingham remains a key player in the cultural and economic landscape of Alabama.

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