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Alabama: The Yellowhammer State
With over 4.9 million residents, Alabama ranks as the 24th-most populous state in the country. Among its nicknames include the Yellowhammer State (after the state bird), the Heart of Dixie, and the Cotton State.
Alabama has a very rich history that permeates the state to this day. It's also home to some of the best Southern food anyone will ever have the privilege of trying. Have breakfast at a charming café before meeting with friends over lunch at a seafood restaurant. And, of course, no trip to Alabama is complete without tasting their authentic barbecue.
Southern hospitality is apparent here in Alabama, with some of the most welcoming citizens you'll ever meet. Beyond the food and the people, Alabama has plenty to offer. The state boasts gorgeous landscapes — from majestic mountain ranges to serene white beaches. Alabama is also known for its musical heritage and its lively sports scene.
In terms of education, Alabama boasts more than 60 colleges and universities, including the
University of Alabama and
Auburn University. And, if you need a shot of culture and arts, you can't go wrong with a show at the
Alabama Ballet or the
BJCC Concert Hall.
Perhaps the cherry on top of the attractive sundae that is Alabama is its low cost of living. Plus, the houses here are very affordable. It doesn't cost an arm and a leg to live in this beautiful Southern state.
The State of Alabama's Rental Market
Alabama has one of the most affordable and thriving housing markets in the United States. Even during the COVID-19 pandemic, home sales
were up by 3.5% year-to-date. The
median listing price here is $144,000 — 37% below the national median — making it a lucrative place to invest in rental property.
image via
towncharts.com
Although most residents own their homes, there's still a viable renter market in the Cotton State. In fact, 31% of residents rent their homes. Renters can make the most out of their money in this state. In addition to an overall lower cost of living, rent costs are cheaper here compared to the national median. In 2019, the median gross rent in the United States
sat at $1,097. Meanwhile, in Alabama, the median gross rent sat at $807.
Still, home values and rent prices aren't the only factors worth considering in the rental market. The vacancy rate in Alabama sat at 9.69% in 2019. While the Alabama vacancy rate is certainly higher compared to the national vacancy rate, it did show improvement over the preceding three years. In 2017, the vacancy rate in Alabama peaked at 10.99%.
Additionally, Alabama is a landlord-friendly state. In 2014, legislators passed laws that made it easier for landlords to evict tenants who breach their lease agreements.
How an Alabama Property Management Company Can Help
Clearly, Alabama's rental market offers a lot of promise. And, it's this very promise that attracts property investors to the Yellowhammer State. But, managing rental property in Alabama isn't as easy as it seems, especially if you have no experience with it. Many property owners also don't have time to devote to the many duties associated with rental management.
This is where an Alabama rental management company comes in.
With a professional service, rental property owners can breathe a sigh of relief knowing their investments are in good hands. A property management company can take care of all the duties usually fulfilled by a landlord, including but not limited to:
- Marketing your property
- Screening tenants
- Showing your property to potential tenants
- Setting your rental rate
- Preparing your lease agreement
- Conducting move-in, move-out, and routine inspections
- Collecting rent
- Enforcing your lease terms and rules
- Overseeing maintenance and repairs
Additionally, property management companies can help you with your rental property finances, tax preparation, and, if it ever comes up, the eviction process. Property management in Alabama doesn't have to be difficult. With expert help, you can leave your rental property to an experienced professional, leaving you with more free time and peace of mind.
Start Your Search Today
Find an Alabama property management company that suits your needs and budget. Using Rental Choice's
online directory, you can filter your searches according to your city or zip code. Trust that our online database consists of only the best property management companies in your area.
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