Bessemer, Alabama Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Bessemer, Alabama rental market.
Bessemer, Alabama
Average Apartment Rent
$895
Y-o-Y Change in Average
Apartment Rent
4.3%
As of July 2024
Compared to a year ago, Bessemer, Alabama apartments have recorded a 4.3% rent increase.
Bessemer, Alabama Average apartment rent trend
Bessemer, Alabama Average Apartment Rent
Bessemer, Alabama Apartment rent ranges
At 75.08%, apartments priced $700 - $1000 represent the bulk of Bessemer, Alabama rentals, while condos priced $500 - $700 hold the lowest share of the market – 2.45%.
Bessemer, Alabama Housing tenure**
Renters take up 46% of Bessemer, Alabama real estate, occupying a total of 4,712 units, while homeowners live in 5,604 properties.
Median number of rooms of renter-occupied housing units**
4.4
Renter median household income**
$25,995
Average household size of renter-occupied housing units**
2.46
Rental vacancy rate**
6.1%
Bessemer, Alabama Renter-occupied housing units by no. of bedrooms**
There are 1,971 rentals in Bessemer, Alabama with 2 beds making up the highest share of the market, at 42%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 32 units. Overall, the median number of rooms in Bessemer, Alabama homes for rent is 4.4.
Bessemer, Alabama Renter-occupied units by age of householder**
Most condos for rent in Bessemer, Alabama are occupied by residents in the 25 - 34 years age group (21%), followed by those in the 45 - 54 years age group (17%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 3%.
Bessemer, Alabama Renter-occupied housing units by family type**
Bessemer, Alabama Renter-occupied housing units by the presence of own children**
A total of 2,217 apartments for rent in Bessemer, Alabama, or 47% of all rentals are family households. Additionally, 29% of rental homes include children under the age of 18 – that’s 1,357 units. All in all, the median size of a renter-occupied household in Bessemer, Alabama is 2.46.
Bessemer, Alabama Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 9% of the rental market. In contrast, residents with less than a high school degree reside in 17% of the homes for rent in Bessemer, Alabama.
Bessemer, Alabama Renter-occupied units by year structure built**
The highest share of Bessemer, Alabama apartment rentals, namely 20% or 935 units, were Built 1960 - 1969, followed by those Built 1970 - 1979 (15%, 726 units), and the ones Built 1980 - 1989 (11%, 539 units).
Bessemer, Alabama Renter-occupied units by year householder moved in**
Median year renter moved into unit 2016
Most Bessemer, Alabama renters (44%) moved in 2010 to 2017, while only 2% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Bessemer, Alabama condos for rent is 2016.
Bessemer, Alabama Renter-occupied housing units by vehicles available**
When it comes to transportation options, 53% of Bessemer, Alabama renters have 1 vehicle available per household, 23% of them have 2 vehicles available, and 18% have No vehicle available.
Bessemer, Alabama Means of transportation to work of householders living in renter-occupied housing units**
Bessemer, Alabama Geographical mobility in the past year for householders living in renter-occupied housing units**
Bessemer, Alabama Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Bessemer, Alabama apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
