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Hoover, AL Investment Data and Rental Metrics
Investment Data & Rental Metrics
LTR & STR financial performance, market growth indicators, and school ratings.
LTR Financial Performance
Median Price
LTR Rent
$1,331
Monthly Cash Flow
-$1,054
Principal + Equity
$2,073
Annual Total Gain
$12,231
Cash on Cash
-11.84%
Net ROI %
STR Financial Performance
Median Price
Avg. Daily Rate
$156
Occupancy Rate
54.84%
Monthly Revenue
$2,059
Monthly Cash Flow
-$634
Principal + Equity
$2,073
Annual Total Gain
$17,264
Cash on Cash %
-7.13%
Net ROI %
Market Health & Growth
Median Income
$107,822
Population
92,401
LTR Renter %
28.82%
Forecast (1 yr)
0.4%
Appreciation (1 yr)
1.29%
Appreciation (5 yr)
33.11%
Appreciation (10 yr)
61.35%
Job Growth
0.77%
LTR Rentability
Moderate
STR Demand
56
STR Rentals
1,612
Top Public Schools
AAlabama School of Fine Arts
ADeer Valley Elementary School
A
A
A
Market Grades and Information
Best Places to Live Ranking
Public school quality, cost of living, commute, and lifestyle ratings.
A
Overall
Top-level market grade
Best Places to Live in Alabama
#4out of 262 markets
Best Places to Raise a Family in Alabama
#4out of 262 markets
Best Suburbs for Young Professionals in Alabama
#2out of 95 markets
A
Public School
C
Crime And Safety
B
Housing
B
Nightlife
A
Good For Families
Diversity
Jobs
Weather
Cost Of Living
Health And Fitness
Outdoor Activities
Commute
Short-Term Rental (STR) Regulations
Local rules and guidelines for operating short-term rentals in Hoover, AL.
As of September 2021, Hoover, AL does not have specific regulations in place for short term rentals (STRs). However, it is important for investors to be aware of potential changes in regulations and to stay informed about any developments in this area.
Investors should also be aware of any homeowner association (HOA) rules or restrictions that may apply to short term rentals in their specific neighborhood or community. Some HOAs may have regulations in place that restrict or prohibit short term rentals.
Additionally, investors should consider the potential impact of STRs on the local community and housing market. Some cities have implemented regulations to address concerns about noise, parking, and other issues associated with short term rentals.
Before investing in a property for short term rental in Hoover, AL, investors should thoroughly research and understand the current regulations and any potential future changes that may affect their investment. It is also recommended to consult with a real estate attorney or local real estate agent who is familiar with the market and can provide guidance on STR regulations in the area.
Market Trends Over Time
Explore 25 years of market data for Hoover, AL, including median property prices, long-term rental rates, and days on market — identify growth potential and gauge market stability.
Median Price
Median Rent
Days on Market
Nearest Markets
Explore nearby investment markets close to Hoover, AL.
The LTR Genie Score of Hoover, AL is 48 and STR Genie Score is 38, indicating a moderate level of rentability for both long-term and short-term rental properties in the area. The LTR Net ROI of 11.45% suggests a decent return on investment for long-term rentals, while the higher STR Net ROI of 16.16% indicates potentially higher returns for short-term rentals. The 1-Year Price Appreciation Forecast of 0.4% suggests a stable market with minimal growth.
The STR Occupancy rate of 54.84% and STR Revenue of 2059 indicate a steady demand for short-term rental properties in Hoover, AL. However, the LTR Rent Growth Rate of 0.0% may be a concern for long-term rental investors looking for potential income growth over time.
Overall, Hoover, AL appears to be a market with opportunities for both long-term and short-term rental investments. Real estate investors may consider diversifying their portfolio by investing in both rental strategies to maximize returns in this market. It is recommended to conduct further research and analysis to determine the best investment approach based on individual goals and risk tolerance.
Hoover, AL is a suburb of Birmingham known for its excellent schools, low crime rates, and family-friendly community. The area offers a mix of residential neighborhoods, shopping centers, and outdoor recreational opportunities, making it an attractive location for both tenants and potential buyers.
LTR Genie Score 93
$240,000
🛏 4 Beds🛁 2.0000 Baths🏙 2,033 sqft.🏠 SINGLE FAMILY
