Market Highlights

The multifamily market in Huntsville is currently seeing a boom that the city has never experienced. Currently, the city has 37,321 completed units, with another 10,701 under construction and 6,374 proposed or planned. These growth numbers can be attributed to a multitude of factors including a massive corporate flight to Huntsville, a housing shortage that the city faced in 2020 and 2021 which drove up single-family home prices, impressive occupancy and rent growth numbers, cheap borrowing power, and low barriers to entry.

The primary industries in Huntsville are Aerospace, Defense, Information Technology, Bioscience, and Advanced Manufacturing as 18 of the top 20 Government Contractors have a presence in the Huntsville MSA. Due to the strong and wide-ranging industries in Huntsville, the metro area has an impressive average household income of $94,763 (ASmartPlace). Additionally, the Huntsville job market continues to show strong economic growth, which is helping to absorb the increased supply. Some recent investments include the FBI’s $2.48 billion campus (5,200 jobs) as well as Mazda Toyota’s $2.31 billion plant (4,000 jobs). Furthermore, in the next 40 years, the city is expected to see employment growth of 76% (24/7 WallStreet).

Multifamily Highlights

Major Employers

  1. U.S. Army/Redstone Arsenal

    38,000 jobs  | Learn More
  2. Huntsville Hospital

    9,352 jobs; 881 beds  | Learn More
  3. NASA/Marshall Space Flight Center

    6,000 jobs  | Learn More
  4. The Boeing Company

    3,048 jobs  | Learn More
  5. Hexagon

    3,000 jobs  | Learn More
  6. Dynetics, Inc.

    2,946 jobs  | Learn More
  7. SAIC

    2,746 jobs  | Learn More
  8. Mazda Toyota Manufacturing USA, Inc.

    2,023 jobs  | Learn More
  9. University of Alabama in Huntsville

    1,979 jobs; 9,237 students  | Learn More
  10. Northrop Grumman Corporation

    1,970 jobs  | Learn More

Other Demand Drivers

  1. Huntsville International Airport

    $1.8B economic impact  | Learn More
  2. U.S. Space and Rocket Center

    650,000+ annual visitors  | Learn More
  3. Alabama A&M

    6,100 students  | Learn More
  4. MidCity District

    $500 million, 100-acre mixed use development site  | Learn More
  5. Cummings Research Park

    300+ companies; 26,000 jobs  | Learn More
  6. Bridge Street Town Centre & Westside Centre

    Target, Michael's, Ross, Belk, The Westin  | Learn More