The Crimson White

Tuscaloosa real estate market continues to improve

Back to Article
Back to Article

Tuscaloosa real estate market continues to improve

A home under construction. 

Will Jones, Cydney Nichols

Hang on for a minute...we're trying to find some more stories you might like.


Email This Story






Since the 2007-2008 recession, the national real estate market has been in a seemingly constant slump. The Federal Reserve has estimated that the U.S. lost nearly $14 trillion from 2007-2009 as a result of the recession. Also, recent data from the U.S. Department of Housing and Urban Development has shown only slight recovery since the recession. 

Despite a downtrodden national market, the real estate market, specifically homeownership, in Tuscaloosa has been on the rise for the last several years. Home sales are up 16 percent from 2015’s numbers and are running ahead of sales forecast. The supply in Tuscaloosa’s housing market has dropped 20 percent from the previous year. With the demand for housing increasing, there isn’t enough supply to keep up with the demand.

The median sale price for a home in Tuscaloosa is $179,200, while renters can expect to pay an average of $1,187 per month in rent, according to trulia.com. The median sales price is up 9 percent from the previous year.

Tuscaloosa’s homeownership rate has steadily improved since 2008. However, the same can not be said of the national rate. According to the U.S. Census Bureau, the national homeownership rate has been in steady decline since the 2008 recession. The most recent statistics from the bureau show the national rate to be 63.5 percent, a 48-year low. The most recent rate is 0.2 percentage points lower than the first quarter 2015 rate.

Leave a Comment
Navigate Left
  • Tuscaloosa real estate market continues to improve

    NEWS

    Dining halls, students work to reduce food waste

  • Tuscaloosa real estate market continues to improve

    NEWS

    AMP students unsure of graduate school Senate eligibility

  • Tuscaloosa real estate market continues to improve

    NEWS

    University Programs hosts its first Lip Sync Battle

  • Tuscaloosa real estate market continues to improve

    NEWS

    Tuscaloosa Can contest raises more than 16,000 pounds of food

  • Tuscaloosa real estate market continues to improve

    NEWS

    Lecture on slavery brings in professors from other institutions

  • Tuscaloosa real estate market continues to improve

    MULTIMEDIA

    AL Youth Climate Strike

  • Tuscaloosa real estate market continues to improve

    NEWS

    SGA President Adams calls election victory ‘the first step’

  • Tuscaloosa real estate market continues to improve

    NEWS

    Hollingsworth defeated in SGA election, still wants to ‘serve this university as a whole’

  • Tuscaloosa real estate market continues to improve

    NEWS

    SGA spring election winners announced

  • Tuscaloosa real estate market continues to improve

    NEWS

    Judges assess student business pitches at EDGE

Navigate Right
Serving the campus of the University of Alabama since 1894
Tuscaloosa real estate market continues to improve