USA today touted Huntsville as “one of the top communities leading the economic recovery,” while Money magazine named it “one of the nation’s most affordable cities.” The top employer is the military with over 31,000 jobs at Redstone Arsenal. NASA Marshall Space Flight Center are the next largest employers. Like most of Alabama, Huntsville enjoys lower tax rates to help with ROI. Renters take up about 38% of the market. With the steady job market and population, this allows investors with quality homes to attract solid, long-term tenants. The average home price is approximately $125,000. With distressed homes selling at a 44% discount, this is a great environment for flipping or a buy and hold strategy.
USA Today listed Montgomery as one of 20 nominees for Best Historic City in the nation. Eight colleges and universities in the city, with enrollment totaling more than 20,000 students. The average monthly rent in Montgomery is $818, which is lower than the U.S. Approximately 45,651 housing units are owner-occupied. About 70.1% of owners and 45.9% of renters pay less than 30% of their income toward housing expenses, a measure of affordability. Owners make up 49.6% of housing units. 37.1% of the housing units are occupied by renters.