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Old 11-17-2020, 08:26 AM
 
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How is the demand for rentals in Huntsville/ Madison area?

I am thinking to invest in rental properties in the area. I'd imagine with the rotational nature of many jobs in the area, the demand is good but I have no data to back it up.

What are your thoughts?
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Old 11-17-2020, 09:46 AM
 
Location: Madison, Alabama
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Don't know specifically about rentals, but I suspect the demand is pretty high. The area has only a 24-day supply of housing - with 910 houses available at the end of the third quarter 2020, and most of those are fairly expensive for the area. Time on the market is ridiculously small, something like 19 days average.

Given such a demand for housing during a pandemic, it seems like the rental market would be at least as good as the purchase market.
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Old 11-17-2020, 04:22 PM
 
Location: Huntsville, AL
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Quote:
Originally Posted by HB2HSV View Post
How is the demand for rentals in Huntsville/ Madison area?

I am thinking to invest in rental properties in the area. I'd imagine with the rotational nature of many jobs in the area, the demand is good but I have no data to back it up.

What are your thoughts?
Rental inventory is terribly low right now. I have assorted clients moving here from out of town who are stressed by the competitive housing market and have decided to rent instead. They've all been disappointed by the lack of rental inventory as well as the condition of most of them.
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Old 11-17-2020, 06:42 PM
 
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As a past landlord, if you can find a REIT you might be OK. If you are thinking of buying on your own, be prepared for horror stories on your doorstep.
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Old 11-23-2020, 06:40 AM
 
Location: Madison, Alabama
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What are some of the neighborhoods in Huntsville that have a high rental demand right now but lack available rentals? I have a couple of rental homes in Madison city but am looking to expand into Huntsville.
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Old 11-23-2020, 04:01 PM
 
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How about Decatur region? I believe it is more of a blue collar neighborhood when compared to Huntsville/ Madison. With all the development happening around Toyota/Mazda plant, I feel that the rental demand in Decatur would also be pretty good?
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Old 11-23-2020, 05:52 PM
 
Location: Madison, Alabama
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Quote:
Originally Posted by srick123 View Post
How about Decatur region? I believe it is more of a blue collar neighborhood when compared to Huntsville/ Madison. With all the development happening around Toyota/Mazda plant, I feel that the rental demand in Decatur would also be pretty good?
Agree. I would expect quite a few of the Mazda/Toyota plant will live in Decatur/Priceville, as well as Madison. Huntsville proper is really a distance away from the plant. Wouldn't be surprised that the entire area between Athens/Madison/Decatur will fill with residential where allowed by zoning, at some point in the future, assuming industry keeps developing in that area.
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Old 11-23-2020, 07:11 PM
 
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Quote:
Originally Posted by RocketDawg View Post
Agree. I would expect quite a few of the Mazda/Toyota plant will live in Decatur/Priceville, as well as Madison. Huntsville proper is really a distance away from the plant. Wouldn't be surprised that the entire area between Athens/Madison/Decatur will fill with residential where allowed by zoning, at some point in the future, assuming industry keeps developing in that area.
Yup thanks for the affirmation. I do really hope that the manufacturing plant develops into something big. Would be a good boost for the entire region.
Decatur being the cheapest COL among all, is likely to attract quite a few people. I am already seeing the rental prices getting jacked up there due to low inventory. Same applies to property values as well.
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Old 11-24-2020, 03:02 PM
 
Location: Alabama!
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Quote:
Originally Posted by srick123 View Post
How about Decatur region? I believe it is more of a blue collar neighborhood when compared to Huntsville/ Madison. With all the development happening around Toyota/Mazda plant, I feel that the rental demand in Decatur would also be pretty good?
There is a huge demand for housing of any kind in Decatur right now - for rent or for sale. I'm hearing of houses selling a day or two after they go on the market, or for full price, or both. My niece just moved out of a house I own with my brother, and we have people calling begging us to sell it to them to flip.

I would think the local chambers of commerce and/or real estate agent association would have data available.
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Old 11-24-2020, 03:56 PM
 
Location: Madison, Alabama
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Quote:
Originally Posted by Southlander View Post
There is a huge demand for housing of any kind in Decatur right now - for rent or for sale. I'm hearing of houses selling a day or two after they go on the market, or for full price, or both. My niece just moved out of a house I own with my brother, and we have people calling begging us to sell it to them to flip.

I would think the local chambers of commerce and/or real estate agent association would have data available.
The Huntsville area only has a 22 or so day supply of available housing for sale, and average time on market is 19 days, if I recall correctly. I would imagine Decatur is similar (should be in the same metro so data would be more readily available!). The OP mentioned that Decatur seems to be primarily blue-collar, which I think is true, and the vast majority at the Mazda/Toyota and associated suppliers are blue-collar, so it's a nice fit. As already mentioned, Decatur is closer to the plant than mid-Huntsville is, and most of Madison, while close, is quite expensive. So Decatur/Priceville should reap some huge benefits.
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