HUNTSVILLE, Alabama — Apartment prices have gone up 12% in 2021 and 16% since 2019.
Prices are changing because apartments are in such high demand.
"There are more people coming in, and there just aren't places for them to live and the demand is so high that they raise the rent, and it just keeps going up," QuoteWizard Senior Research Analyst Nick VinZant said.
Living in a luxury apartment in Huntsville costs the same, if not more, as a mortgage on a home or even an apartment in a bigger city. This change is probably because more people are working from home.
"People can be paid like they're living in Seattle but live in Idaho... because you can work from home," VinZant explained.
This may not seem like a big deal right now, but in a few short years, these prices could push Huntsville locals out of their communities simply because they can't afford to live here.
Even though prices are high, people are still willing to move to the Rocket City because of the community.
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