Birmingham, AL Multifamily Market Report | MMG Real Estate Advisors | Q1 2026

Market Overview
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Birmingham's multifamily market showed early signs of stabilization in Q1 2026, with average rent at $1,236 (down 0.9% year-over-year) and occupancy at 88.2%, down 30 basis points annually, even as a 1.0% quarter-over-quarter rent gain marked the strongest improvement in nearly two years. Annual absorption of 1,169 units fell short of the 2,253 units delivered over the same period, though that imbalance is shifting rapidly as the active construction pipeline contracted 86% over the past four quarters to just 289 units, the lowest level since 2017. In Q1 alone there were no deliveries yet 327 absorptions, illustrating a significant shift in supply-demand dynamics as the market's pipeline approaches near-dormancy. NOTE: The full report requires submitting contact information through a download form; the description above reflects publicly visible market snapshot data only.

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About MMG Real Estate Advisors

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MMG Real Estate Advisors is a multifamily investment sales and research firm tracking apartment market fundamentals across the Southeast, Midwest, and beyond. Their Q1 2026 Birmingham multifamily market snapshot tracks rent, occupancy, absorption, and supply trends to help owners and investors assess market timing. To read the full report, click here.