Tuscaloosa, Alabama, is becoming a community with a distinct identity that goes beyond its history in college sports and its status as the home of the Alabama Crimson Tide. Tuscaloosa, Alabama, is a popular destination for college students, young adults, families, and seniors with its wide variety of museums, parks, riverwalk activities, and sports venues.
Often referred to as “The Druid City,” huge water oak trees (many over 80 years old!) line the streets of downtown. While you probably don’t worship oaks like the ancient Celtic people that provided this nickname, don’t miss a chance to see these spectacular works of nature in person.
One of the most popular attractions during the summer is Lake Tuscaloosa with its 177 miles of shoreline. Fishing is quite popular in this reservoir, but visitors can also swim, paddleboard, or go boating. The Tuscaloosa Riverwalk runs along the Black Warrior River right through downtown and features a paved, scenic path for walking, biking, and more. There’s something for everyone in Tuscaloosa!
Economy
Tuscaloosa County’s population has grown by about 0.5%1 every year since 2016, resulting in Tuscaloosa County becoming the 7th most populous county in Alabama. The unemployment rate is currently just 4.4%, significantly lower than the US average of 6%, likely because job market increases have been consistent and are expected to be over 30%2 in the next 10 years!
As the University of Alabama continues to be one of the top employers in the area, there are also a wide variety of industries and opportunities available like those at Mercedes-Benz, Huntsville Hospital, and Michelin. It is expected that Tuscaloosa’s economy will increase and diversify in the coming years, the area expects a 30% increase over the next 10 years. In addition to the diversified economy and renowned higher education, the low cost of living, job market variety, and affordable housing is quite attractive to residents.
Top 3 companies to work for in Tuscaloosa, AL are Peco Foods, Phifer, and NHS Management.
Highlights
Famous as “The Oak City” and “The Druid City” because of the massive water oak trees that line the downtown streets, Tuscaloosa is the industrial and commercial core of West Alabama, anchored by the adjacent Mercedes-Benz plant.
The county of Tuscaloosa is one of the most sought-after areas to live in the state of Alabama. The resident population is high, with most residents renting their homes. The city of Tuscaloosa is a popular destination for young adults who enjoy walking, running, and bicycling along the Riverwalk that follows the Black Warrior River’s route through downtown Tuscaloosa.
If you enjoy fishing and boating, Lake Nicol is a wonderful local lake that is open to the public. If you’re a football lover, you’ll want to visit the Paul W. Bryant Museum, which is named in honor of the famed University of Alabama football coach Paul “Bear” Bryant, who served as the Crimson Tide’s head coach from 1961 to 1969.
The Children’s Hands-on Museum, which includes 25 distinct exhibits targeted at reinforcing STEM, arts, and civic principles for children of all ages, is an excellent place to take your children. Automobile enthusiasts should pay a visit to the Mercedes-Benz US International Visitors Center and enjoy a tour of the facility.
Attractive Housing Market
Tuscaloosa, Alabama, is well known for its heritage in college sports and as the home of the Alabama Crimson Tide, but it is also developing a distinct identity that extends beyond athletics. Similarly to its northern counterparts Birmingham and Huntsville, Tuscaloosa is prepared to compete with national markets in terms of real estate investment profitability.
Tuscaloosa is a good choice for your next investment property because of its low vacancy rate in combination with healthy economic numbers. The average property price enhances affordability and predicted equity growth, which makes it a viable investment option.
With a median sale price of $259,9003, reflecting a year over year increase of 3.7%4, Tuscaloosa homes are selling after only 56 days on the market, down from 68 days the year before. Similar to the case in other cities across the country, there are fewer homes on the market in Tuscaloosa than there are buyers and renters. As long as demand for places to live is high, the residential real estate market will continue to skyrocket.
Citations:
1. https://worldpopulationreview.com/us-counties/al/tuscaloosa-county-population
2. https://www.bestplaces.net/economy/city/alabama/tuscaloosa
3. https://www.movoto.com/tuscaloosa-al/market-trends/
4. https://www.tuscaloosanews.com/story/news/2021/11/23/gda-average-home-prices-20211119-al-nttn-01125/49402123/
