7 Interesting Facts About the Montgomery, AL Real Estate Market

Nov 10, 2023

7 Interesting Facts About the Montgomery, AL Real Estate Market

Nestled in the heart of Alabama, Montgomery is the state’s capital and a city with a rich history and a vibrant real estate market. With its unique blend of Southern charm and modern opportunities, Montgomery presents an intriguing landscape for homebuyers and real estate investors. Located just an hour and a half south of Birmingham, you’ll find historic homes amid a city undergoing a modern transformation. Montgomery, AL, real estate offers a wealth of opportunities.

1. There’s oodles of historic charm

Montgomery’s rich history is etched into the very fabric of the city, and the Montgomery housing market reflects this unique heritage. The city offers an array of historic homes, many of which are meticulously preserved and renovated, allowing buyers to own a piece of the city’s storied past. From antebellum mansions to charming bungalows, Montgomery’s historic homes offer a chance to live in properties that have witnessed the city’s transformation over the years.

2. Affordability is key 

One of the stand-out features of Montgomery’s real estate market is its affordability. The cost of living in the city is notably lower than in larger metropolitan areas, and this extends to housing costs. According to Redfin, the median home price as of November 2023 is $186,300, and home values have increased compared to last year. Whether you’re looking for a home or a real estate investment opportunity, Montgomery’s housing market provides options that are friendly to a wide range of budgets, making it an attractive destination for those seeking value in their real estate investments year-over-year.

3. They’re big Shakespeare fans

Montgomery is home to the Alabama Shakespeare Festival. The festival hosts hundreds of performances each year and is one of the largest Shakespearean events in the world. Founded in 1972, the festival was held in a high school auditorium in front of the founder’s wife and one critic. And the critic hated it. 

4. The public schools are well-ranked 

For families considering a move to Montgomery, the city’s proximity to top-rated public schools is a significant draw. Access to quality education is a fundamental factor for many homebuyers, making Montgomery an ideal destination for those who value their children’s education. This proximity to excellent public schools enhances the overall appeal of the city’s real estate market.

Additionally, Montgomery is home to both Alabama State University and Faulkner University. This educational presence enriches the city’s culture and contributes to a steady flow of renters. 

5. Montgomery played a key role in the Civil Rights Movement 

Montgomery was critical to the Civil Rights Movement — and many experts consider it the movement’s birthplace. Rosa Parks led the Montgomery Bus Boycott, leading to the desegregation of public buses. Martin Luther King Jr. preached at the Dextor Avenue Baptist Church in the city. Today,  Montgomery is home to The Civil Rights Memorial and the Legacy Museum, a site dedicated to teaching visitors about slavery, civil rights, and mass incarceration. 

6. There is new development and revamped atmosphere

The Montgomery area is undergoing revitalization and development in various areas, such as updating downtown and expanding the Riverfront Park area, breathing new life into the city. 

Additionally, new homes for sale — some of which still come with acres of land — create potential investment opportunities for those looking to get in on the ground floor of Montgomery’s transformation with a newly built rental property. This renewed atmosphere is also ideal for homeowners and buyers seeking a new home and a fresh lifestyle.

7. The real estate market shows strong performance 

Over the past year, Montgomery’s real estate market has shown impressive growth. The median sales price has notably increased, making it a lucrative prospect for investors. Moreover, the average days on the market for properties have been relatively low, indicating a high demand for real estate in the area. Realtors and lenders know these statistics demonstrate the city’s resilience and potential for a profitable real estate investment, and the list price and price per square foot for an entry-level Montgomery home is just a bonus.

Intrigued by the prospects of Montgomery’s real estate market? If you’re interested in adding real estate to your portfolio, consider exploring the opportunities Montgomery has to offer. With Arrived, anyone can invest $100 to $15,000 per property in a range of single-family residential homes and vacation rentals across markets nationwide. 

The opinions expressed in this article are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product. The views reflected in the commentary are subject to change at any time without notice. View Arrived’s disclaimers

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