Apartment Deliveries by Year - Apartment boom? (Birmingham, Huntsville: apartments, new construction)

[bfmx1]

I ran across some data I found interesting then researched a bit more and keep finding articles talking about Birmingham's apartment boom or building boom. I wondered if the numbers would support the craze and I'm having a hard time seeing it.

Here's an example: https://www.al.com/news/birmingham/i..._whats_fu.html

See the attached excel file for fun weekend reading if you're a nerd like me.

Metro Area 2016 2017 2018
New York-N 21,177 26,739 19,948
Dallas-For 23,159 24,960 17,132
Houston-Th 25,935 17,960 7,646
Los Angele 20,205 14,667 11,449
Miami-Fort 13,245 13,466 9,790
Denver-Aur 10,849 13,142 15,187
Washington 18,027 13,098 9,516
Atlanta-Sa 11,964 11,797 9,547
Seattle-Ta 13,384 10,114 8,614
Nashville- 6,536 8,557 6,684
Chicago-Na 8,377 7,792 10,713
Boston-Cam 7,609 7,558 5,004
Austin-Rou 13,568 7,435 8,837
San Antoni 7,158 7,422 3,501
Phoenix-Me 8,597 7,309 10,302
Minneapoli 2,395 6,658 3,520
Charlotte- 10,421 6,529 5,169
Orlando-Ki 6,895 5,857 3,857
San Franci 9,362 5,415 6,647
Portland-V 4,969 4,802 4,804
San Diego- 6,002 4,668 4,086
Las Vegas- 1,812 4,623 1,597
Philadelph 5,700 4,622 4,368
San Jose-S 5,866 4,428 4,533
Baltimore- 3,967 4,054 4,117
Tampa-St. 4,161 4,016 4,176
Columbus, 3,353 3,823 3,209
Salt Lake 5,165 3,821 3,339
Kansas Cit 4,716 3,719 1,569
Jacksonvil 757 3,397 2,576
Milwaukee- 1,944 3,220 2,627
Indianapol 2,494 3,081 2,203
Louisville 928 2,633 1,660
Raleigh, N 4,280 2,415 3,383
Des Moines - 2,400 1,130
Charleston - 2,175 1,789
College St - 1,963 -
Greenville - 1,926 1,215
St. Louis, 1,789 1,856 2,088
Virginia B 1,277 1,805 910
Omaha-Coun - 1,688 1,425
Durham-Cha - 1,797 1,485
Baton Roug - 1,652 800
Cleveland- 1,388 1,651 1,781
Spokane-Sp - 1,627 1,207
Detroit-Wa 1,042 1,615 1,319
North Port - 1,556 349
Cincinnati 2,930 1,553 1,093
Oklahoma C 3,277 1,550 714
Richmond, 1,737 1,550 1,001
Hartford-W 1,623 1,434 339
Fort Colli - 1,322 600
Buffalo-Ch 579 1,291 755
Burlington - 1,265 -
Bridgeport - 1,210 450
Knoxville, - 1,194 684
Corpus Chr - 1,186 1,006
Riverside- 2,467 1,164 1,515
Dayton, OH - 1,044 -
Rochester, - 1,011 913
Boise City - 982 1260
Wilmington - 957 794
Madison, W - 919 1023
Toledo, OH - 912 -
Providence 0 885 1082
Tulsa, OK - 884 -
Pittsburgh 3411 876 1326
Columbia, - 859 418
Grand Rapi - 851 1157
Birmingham 1906 822 566
Lexington- - 766 -
Sacramento - 738 1592
Waco, TX - 729 384
Tallahasse - 725 1173
Pensacola- - 722 695
Killeen-Te - 709 -
Cape Coral - 694 1145
El Paso, T - 694 -
McAllen-Ed - 688 -
Eugene, OR - 664 -
Jackson, M - 661 -
Lubbock, T - 647 -
Columbus, - 612 541
Greensboro - 611 556
Reno, NV - 588 994
Chattanoog - 577 591
Savannah, - 557 318
Myrtle Bea - 545 -
Hilton Hea - 540 -
Portland-S - 518 -
Macon-Bibb - 505 -
Syracuse, - 504 532
New Orlean 1035 501 602
Fort Wayne - 466 433
Lansing-Ea - 451 400
Wichita, K - 424 381
Huntsville - 403 -
Stockton-L - 388 716
Worcester, - 333 871
Manchester - 318 -
Kennewick- - 304 -

[steveklein]

Careful, you may touch a nerve.

Essentially this data tells us what we already know: Birmingham is undergoing an urban transformation, but that transformation is being seen in virtually every principal city of metro areas around the country. As to the speed of that transformation, Birmingham appears to be progressing slower than cities that had already passed it by like Charlotte and Nashville, but at least reasonably competitive with most of its "new peers" like Louisville, Greenville, Charleston, Knoxville, Tulsa, etc.

[RocketDawg]

Originally Posted by steveklein

Careful, you may touch a nerve.

Essentially this data tells us what we already know: Birmingham is undergoing an urban transformation, but that transformation is being seen in virtually every principal city of metro areas around the country. As to the speed of that transformation, Birmingham appears to be progressing slower than cities that had already passed it by like Charlotte and Nashville, but at least reasonably competitive with most of its "new peers" like Louisville, Greenville, Charleston, Knoxville, Tulsa, etc.

I assume that "apartment deliveries" means individual units of apartments. Are the stated number of apartments only for the "downtown" areas, or for the entire area within the city limits?

But yes, there seems to be a move, presumably by "millennials" and probably some elderly, to live in a downtown area. I don't think I'd like it, being a suburbanite, but I suppose it could be convenient to a lot of things.

[Peter1948]

Originally Posted by steveklein

Careful, you may touch a nerve.

Essentially this data tells us what we already know: Birmingham is undergoing an urban transformation, but that transformation is being seen in virtually every principal city of metro areas around the country. As to the speed of that transformation, Birmingham appears to be progressing slower than cities that had already passed it by like Charlotte and Nashville, but at least reasonably competitive with most of its "new peers" like Louisville, Greenville, Charleston, Knoxville, Tulsa, etc.

No it is not. Louisville (this ranking is by METRO area but I wonder it's validity) clearly has substantially more new apartments. And being a much larger city for its entire existence, most Louisville's "new" apartments aren't new at all. Birmingham is similar in this regard with so much historic urban rehabs going on. These rankings are biased against older cities where rehabs are more common. That said, the last two years Louisville has had THREE TO FOUR times the new construction of apartments than Birmingham. It's not even close. Almost every day, I see 100 units plus announced. Louisville is not in that peer group you mentioned. It's too large of a central city, and this isn't even considering that a very large percentage of it's "urban" population is in another state. Look at a map and see what I mean. Louisville and Birmingham are more peers than the other cities listed IMO.

[steveklein]

Originally Posted by Peter1948

No it is not. Louisville (this ranking is by METRO area but I wonder it's validity) clearly has substantially more new apartments. And being a much larger city for its entire existence, most Louisville's "new" apartments aren't new at all. Birmingham is similar in this regard with so much historic urban rehabs going on. These rankings are biased against older cities where rehabs are more common. That said, the last two years Louisville has had THREE TO FOUR times the new construction of apartments than Birmingham. It's not even close. Almost every day, I see 100 units plus announced. Louisville is not in that peer group you mentioned. It's too large of a central city, and this isn't even considering that a very large percentage of it's "urban" population is in another state. Look at a map and see what I mean. Louisville and Birmingham are more peers than the other cities listed IMO.

*shrug* Looks like ~4200 delivered in Louisville compared to ~3200 in Birmingham in these 3 years unless I just don't understand the numbers.

[Peter1948]

Originally Posted by steveklein

*shrug* Looks like ~4200 delivered in Louisville compared to ~3200 in Birmingham in these 3 years unless I just don't understand the numbers.

Well first off your math is way shady. The 2016-2018 total is Louisville 5221 to Ham 3294.

BUT.... I am talking about 2017 and 2018. Louisville's apartment boom didn't start until 2017 and continues to this day. And although this says "metro" area, I am not quite sure it counts S. Indiana. Jeffersonville IN, in particular has announced probably 500 class A multifamily units in just the last two months alone. This is effectively "downtown" Louisville when you check the map.

Still, most the "new" apartments in Louisville (and Birminhgam) aren't new at all. They are historic rehabs.

Comparing the most recent data 2017/18 gives a much clearer picture
Louisville 4293
Birmingham 1388 (and trending way down)

Birmingham has a VERY impressive multifamily historic housing stock (ditto Louisville which was always much bigger, especially in the 1800s but Louisville lost more to a flood in 1937 WORSE than Katrina!). I imagine since my last visit a year or so ago many more of those historic apartments in Bham have gotten rehabbed into class A beautiful buildings. So I am not saying Birmingham isn't doing well in apartments, it is just not comparing to Louisville.

[pwduvall]

Originally Posted by bfmx1

I ran across some data I found interesting then researched a bit more and keep finding articles talking about Birmingham's apartment boom or building boom. I wondered if the numbers would support the craze and I'm having a hard time seeing it.

Here's an example: https://www.al.com/news/birmingham/i..._whats_fu.html

See the attached excel file for fun weekend reading if you're a nerd like me.

Metro Area 2016 2017 2018
New York-N 21,177 26,739 19,948
Dallas-For 23,159 24,960 17,132
Houston-Th 25,935 17,960 7,646
Los Angele 20,205 14,667 11,449
Miami-Fort 13,245 13,466 9,790
Denver-Aur 10,849 13,142 15,187
Washington 18,027 13,098 9,516
Atlanta-Sa 11,964 11,797 9,547
Seattle-Ta 13,384 10,114 8,614
Nashville- 6,536 8,557 6,684
Chicago-Na 8,377 7,792 10,713
Boston-Cam 7,609 7,558 5,004
Austin-Rou 13,568 7,435 8,837
San Antoni 7,158 7,422 3,501
Phoenix-Me 8,597 7,309 10,302
Minneapoli 2,395 6,658 3,520
Charlotte- 10,421 6,529 5,169
Orlando-Ki 6,895 5,857 3,857
San Franci 9,362 5,415 6,647
Portland-V 4,969 4,802 4,804
San Diego- 6,002 4,668 4,086
Las Vegas- 1,812 4,623 1,597
Philadelph 5,700 4,622 4,368
San Jose-S 5,866 4,428 4,533
Baltimore- 3,967 4,054 4,117
Tampa-St. 4,161 4,016 4,176
Columbus, 3,353 3,823 3,209
Salt Lake 5,165 3,821 3,339
Kansas Cit 4,716 3,719 1,569
Jacksonvil 757 3,397 2,576
Milwaukee- 1,944 3,220 2,627
Indianapol 2,494 3,081 2,203
Louisville 928 2,633 1,660
Raleigh, N 4,280 2,415 3,383
Des Moines - 2,400 1,130
Charleston - 2,175 1,789
College St - 1,963 -
Greenville - 1,926 1,215
St. Louis, 1,789 1,856 2,088
Virginia B 1,277 1,805 910
Omaha-Coun - 1,688 1,425
Durham-Cha - 1,797 1,485
Baton Roug - 1,652 800
Cleveland- 1,388 1,651 1,781
Spokane-Sp - 1,627 1,207
Detroit-Wa 1,042 1,615 1,319
North Port - 1,556 349
Cincinnati 2,930 1,553 1,093
Oklahoma C 3,277 1,550 714
Richmond, 1,737 1,550 1,001
Hartford-W 1,623 1,434 339
Fort Colli - 1,322 600
Buffalo-Ch 579 1,291 755
Burlington - 1,265 -
Bridgeport - 1,210 450
Knoxville, - 1,194 684
Corpus Chr - 1,186 1,006
Riverside- 2,467 1,164 1,515
Dayton, OH - 1,044 -
Rochester, - 1,011 913
Boise City - 982 1260
Wilmington - 957 794
Madison, W - 919 1023
Toledo, OH - 912 -
Providence 0 885 1082
Tulsa, OK - 884 -
Pittsburgh 3411 876 1326
Columbia, - 859 418
Grand Rapi - 851 1157
Birmingham 1906 822 566
Lexington- - 766 -
Sacramento - 738 1592
Waco, TX - 729 384
Tallahasse - 725 1173
Pensacola- - 722 695
Killeen-Te - 709 -
Cape Coral - 694 1145
El Paso, T - 694 -
McAllen-Ed - 688 -
Eugene, OR - 664 -
Jackson, M - 661 -
Lubbock, T - 647 -
Columbus, - 612 541
Greensboro - 611 556
Reno, NV - 588 994
Chattanoog - 577 591
Savannah, - 557 318
Myrtle Bea - 545 -
Hilton Hea - 540 -
Portland-S - 518 -
Macon-Bibb - 505 -
Syracuse, - 504 532
New Orlean 1035 501 602
Fort Wayne - 466 433
Lansing-Ea - 451 400
Wichita, K - 424 381
Huntsville - 403 -
Stockton-L - 388 716
Worcester, - 333 871
Manchester - 318 -
Kennewick- - 304 -

Where did the information in the Excel file come from?

[bfmx1]

pwduvall: didnt want to quote the whole thing again

rentcafe.com

https://www.rentcafe.com/blog/rental...upward-streak/

Have to google 2016 and 2017 but all are from rentcafe.com's analysis they put out each year.