Metropolitan Statistical Area (MSA):
Huntsville, AL is a Metropolitan Statistical Area (MSA) comprising counties including .
There is no doubt that the Huntsville, AL metropolitan statistical area (MSA) is a hotbed for real estate activity. The area has seen a surge in home sales and prices over the past few years, and there is no sign of this trend slowing down.
The Huntsville MSA is comprised of Madison, Limestone, and Morgan Counties. The area has a population of just over 400,000 people and is growing at a rate of about 2% per year. The median home price in the Huntsville MSA is just over $200,000, which is up from around $180,000 just two years ago.
There are several factors driving the strong real estate market in the Huntsville MSA. First, the area has seen strong job growth in recent years. The unemployment rate in the Huntsville MSA was just 3.4% in 2019, well below the national average of 4%. This strong job market has led to more people moving to the area, which has increased demand for housing.
In addition to strong job growth, the Huntsville MSA also benefits from being one of the most affordable areas in Alabama. The cost of living in Huntsville is about 10% below the national average and housing costs are even lower than that. This affordability combined with strong job growth has made Huntsville an attractive place to live for many people.
The future looks bright for the real estate market in the Huntsville MSA. Job growth is expected to continue as companies take advantage of the affordable costs and skilled workforce in the area. This will lead to more people moving to Huntsville which will keep demand for housing high and prices rising. If you're thinking about buying a home in huntsville or investing in real estate here, now is a great time!