$0
Average Rent
$1,236 average rent in Birmingham, Q1 2026
0%
Occupancy Rate
88% occupancy rate Birmingham, Q1 2026
0
T4Q Net Absorption
1,169 T4Q net absorption in Birmingham, Q1 2026
0%
Annual Rent Change
-1% annual rent change in Birmingham, Q1 2026
0
BPS Annual Occupancy Change
-30 BPS annual occupancy change in Birmingham, Q1 2026
0
T4Q Unit Completions
2,253 T4Q net absorption in Birmingham, Q1 2026
KEY TAKEAWAYS
- Annual absorption of 1,169 units fell short of the 2,253 units delivered over the same period, a gap driven by the cumulative weight of a delivery wave that accelerated sharply over the past year rather than a weakening in underlying renter demand. Additionally, this imbalance is shifting rapidly.
- The active pipeline has contracted 86% over the past four quarters to just 289 units, equal to 0.4% of existing inventory, the lowest level since 2017. In Q1, there were no deliveries yet 327 absorptions, further illustrating a significant market shift in supply-demand dynamics.
- Birmingham’s 1.0% quarter-over-quarter gain in Q1 2026 marks the strongest improvement in nearly two years. Average occupancy is still being compressed, but absorption momentum is building against a rapidly thinning supply pipeline.
MARKET OUTLOOK
Birmingham’s supply pipeline has contracted to near-dormancy, with the active inventory representing less than half a percent of the existing base and new starts…
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