Hoover, 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 Hoover, Alabama rental market.
Hoover, Alabama
Average Apartment Rent
$1,237
Y-o-Y Change in Average
Apartment Rent
0.9%
As of November 2024
Compared to a year ago, Hoover, Alabama apartments have recorded a 0.9% rent increase.
Hoover, Alabama Average apartment rent trend
Hoover, Alabama Average Apartment Rent
Hoover, Alabama Apartment rent ranges
At 73.32%, apartments priced $1,000 - $1,500 represent the bulk of Hoover, Alabama rentals, while condos priced Over $2,000 hold the lowest share of the market – 0.97%.
Hoover, Alabama Housing tenure**
Renters take up 31% of Hoover, Alabama real estate, occupying a total of 11,048 units, while homeowners live in 25,141 properties.
Median number of rooms of renter-occupied housing units**
4.4
Renter median household income**
$52,429
Average household size of renter-occupied housing units**
2.28
Rental vacancy rate**
4.5%
Hoover, Alabama Renter-occupied housing units by no. of bedrooms**
There are 5,640 rentals in Hoover, Alabama with 2 beds making up the highest share of the market, at 51%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 118 units. Overall, the median number of rooms in Hoover, Alabama homes for rent is 4.4.
Hoover, Alabama Renter-occupied units by age of householder**
Most condos for rent in Hoover, Alabama are occupied by residents in the 25 - 34 years age group (30%), followed by those in the 45 - 54 years age group (20%). At the same time, people in the 75 - 84 years age group make up the lowest share of the local rental market – 3%.
Hoover, Alabama Renter-occupied housing units by family type**
Hoover, Alabama Renter-occupied housing units by the presence of own children**
A total of 5,527 apartments for rent in Hoover, Alabama, or 50% of all rentals are family households. Additionally, 32% of rental homes include children under the age of 18 – that’s 3,556 units. All in all, the median size of a renter-occupied household in Hoover, Alabama is 2.28.
Hoover, Alabama Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 44% of the rental market. In contrast, residents with less than a high school degree reside in 4% of the homes for rent in Hoover, Alabama.
Hoover, Alabama Renter-occupied units by year structure built**
The highest share of Hoover, Alabama apartment rentals, namely 26% or 2,906 units, were Built 1990 - 1999, followed by those Built 1970 - 1979 (20%, 2,163 units), and the ones Built 1980 - 1989 (19%, 2,127 units).
Hoover, Alabama Renter-occupied units by year householder moved in**
Median year renter moved into unit 2019
Most Hoover, Alabama renters (47%) moved in 2018 to 2020, while only 1% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Hoover, Alabama condos for rent is 2019.
Hoover, Alabama Renter-occupied housing units by vehicles available**
When it comes to transportation options, 50% of Hoover, Alabama renters have 1 vehicle available per household, 33% of them have 2 vehicles available, and 9% have 3 vehicles available.
Hoover, Alabama Means of transportation to work of householders living in renter-occupied housing units**
Hoover, Alabama Geographical mobility in the past year for householders living in renter-occupied housing units**
Hoover, 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 Hoover, 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
