Nationally, the average monthly rent is $2,084.08, a 10.76% year-over-year increase. Birmingham's rent did not shoot up quite as much, according to a recent survey. If you rent, has your monthly bill gone up in the past year?
Rent is still rising in Birmingham, but not at the rate it has been for the past year, according to a statistical analysis.
The researchers use leasing data from Zillow’s Observed Rental Index to determine existing rents and compare them to statistical models going back eight years. The index covers an area’s entire rental stock of homes and apartments. Bennie Waller, with the University of Alabama’s Culverhouse College of Business, said the overall national trend is “moving in the right direction.” Birmingham, for example, saw a year-over-year increase of almost 11% just four months ago.
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