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Rent prices in Huntsville metro now among highest in Alabama
Like many costs of living these days, rent has increased significantly over the years, especially in the Huntsville metro area. In fact, a look at Fair Market Rent currently in the Huntsville MSA shows an increase of more than 20 percent over the last year.
Here’s where Fair Market Rent stands in the Huntsville metro:
Fair Market Rent prices in the Huntsville MSA
According to RentData.org, Fair Market Rent prices in Huntsville are high compared to the national average. This FMR area is more expensive than 87 percent of other FMR areas.
Compared to the rest of Alabama, the Huntsville FMR area is more expensive than 98 percent of the state.
Fair Market Rent for a two-bedroom apartment in Huntsville is $1,248 per month. This is an increase from this point last year, where the FMR stood at $1,029 per month.
Fair Market Rent prices are established by the Department of Housing and Urban Development, and determined by conducting an annual nationwide survey. FMR prices are gross rent prices, meaning they include utility costs.
Here is the average rent in some of the Huntsville metro communities:
- Owens Cross Roads: $1,450
- Madison: $1,303
- New Hope: $1,229
- Huntsville: $1,191
- Athens: $1,059
- Decatur: $886
Median rent prices by size of home
According to RentData.org, median rent prices in the Huntsville MSA (this includes Madison and Limestone counties) look like this:
| Studio / Efficiency | $ 977 |
|---|---|
| 1-Bedroom | $ 1157 |
| 2-Bedroom | $ 1354 |
| 3-Bedroom | $ 1756 |
| 4-Bedroom | $ 2102 |
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