Foley, 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 Foley, Alabama rental market.
Highlights
An apartment for rent in Foley, Alabama typically goes for $1,552 per month, while a single-family home for rent in Foley, Alabama has a monthly cost of around $1,896. Renter-occupied units make up 27% of the local housing market, while the rental vacancy rate in Foley, Alabama is at 9.6.
Foley, Alabama
Average Apartment Rent
$1,552
Y-o-Y Change in Average
Apartment Rent
7.9%
Average Single-Family Rent
$1,896
As of November 2024
Compared to a year ago, Foley, Alabama apartments have recorded a 7.9% rent increase.
Foley, Alabama Average apartment rent trend
Foley, Alabama Average Apartment Rent
Foley, Alabama Apartment rent ranges
At 52.74%, apartments priced $1,000 - $1,500 represent the bulk of Foley, Alabama rentals, while condos priced Over $2,000 hold the lowest share of the market – 19.81%.
Foley, Alabama Housing tenure**
Renters take up 27% of Foley, Alabama real estate, occupying a total of 2,606 units, while homeowners live in 7,107 properties.
Median number of rooms of renter-occupied housing units**
4.4
Renter median household income**
$30,000
Average household size of renter-occupied housing units**
1.97
Rental vacancy rate**
9.6%
Foley, Alabama Renter-occupied housing units by no. of bedrooms**
There are 988 rentals in Foley, Alabama with 2 beds making up the highest share of the market, at 38%. Units with No bedrooms, on the other hand, hold the lowest percentage (2%), amounting to 44 units. Overall, the median number of rooms in Foley, Alabama homes for rent is 4.4.
Foley, Alabama Renter-occupied units by age of householder**
Most condos for rent in Foley, Alabama are occupied by residents in the 25 - 34 years age group (23%), followed by those in the 45 - 54 years age group (20%). At the same time, people in the 55 - 59 years age group make up the lowest share of the local rental market – 2%.
Foley, Alabama Renter-occupied housing units by family type**
Foley, Alabama Renter-occupied housing units by the presence of own children**
A total of 930 apartments for rent in Foley, Alabama, or 36% of all rentals are family households. Additionally, 20% of rental homes include children under the age of 18 – that’s 520 units. All in all, the median size of a renter-occupied household in Foley, Alabama is 1.97.
Foley, Alabama Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 17% of the rental market. In contrast, residents with less than a high school degree reside in 25% of the homes for rent in Foley, Alabama.
Foley, Alabama Renter-occupied units by year structure built**
The highest share of Foley, Alabama apartment rentals, namely 38% or 978 units, were Built 2000 - 2009, followed by those Built 1990 - 1999 (26%, 670 units), and the ones Built 2010 - 2019 (14%, 369 units).
Foley, Alabama Renter-occupied units by year householder moved in**
Median year renter moved into unit 2016
Most Foley, Alabama renters (53%) moved in 2010 to 2017, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Foley, Alabama condos for rent is 2016.
Foley, Alabama Renter-occupied housing units by vehicles available**
When it comes to transportation options, 68% of Foley, Alabama renters have 1 vehicle available per household, 23% of them have 2 vehicles available, and 5% have 3 vehicles available.
Foley, Alabama Means of transportation to work of householders living in renter-occupied housing units**
Foley, Alabama Geographical mobility in the past year for householders living in renter-occupied housing units**
Foley, 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 Foley, 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
