Birmingham Logs All-Time High Apartment Deliveries in 2024

The small Alabama market of Birmingham-Hoover has been consistently growing apartment inventory over the last decade. The market, which has about 80,000 units of total inventory, delivered its highest ever supply load in the year-ending 1st quarter 2024 – and that rate is set to be outdone later this year, according to data from RealPage Market Analytics. Birmingham-Hoover, which has a population of over 1.1 million residents, received a record 1,510 new units in the year-ending 1st quarter, growing total inventory just under 2%. By mid-2024, the rate of annual inventory growth will climb to 2.5% as over 2,000 units are expected to deliver in the year-ending 3rd and 4th quarters. Construction delays could curb those figures somewhat but, regardless, this market has already grown total inventory over 11% in the last decade. Huntsville – another Alabama market with explosive apartment growth – is located about 100 miles north of Birmingham.