2008 BRAC Update For Huntsville, Alabama

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The Base Realignment and Closures (BRAC) relocation of 4700 jobs to the Huntsville Alabama area are on track and scheduled to be complete in 2011. Families moving with the BRAC relocation will find favorable housing costs, low cost of living, and inexpensive property taxes in the Huntsville Alabama real estate market. From a financial point of view, transferees from Washington DC, northern Virginia or Atlanta should find enough relief to make the move worth their while.

By the time the relocations set forth during the Base Realignment and Closures (BRAC) of 2005 are complete in the year 2011, approximately 4,700 new people will have moved to Huntsville, Alabama due to job transfers. Many of these people and positions will come from the northern Virginia area. Some of them will come from Georgia.

Alabama will also see its first four-star command thanks to BRAC. As for 2008, the Tennessee Valley BRAC Commission states that the 2nd Recruiting Brigade facility should be completed in time to house the 2nd Recruiting Brigade that will relocate this year. That will put roughly 700 transfers at the U.S. Army Redstone Arsenal in Huntsville, Ala. this year.

Huntsville Real Estate
The 2007 Coldwell Banker Home Price Comparison named Huntsville real estate the most affordable residential real estate market in Alabama. When looking at a 2,200 square-foot house with four bedrooms and two and a half baths, the average cost for Huntsville was $212,183. A similar house in Atlanta, Ga. showed a price of $324,000. Find that same house in Alexandria, Va. and the price skyrockets to $771,500. Those relocating to Huntsville from Atlanta, Washington DC or northern Va. will find reduced real estate prices.

Cost of Living
A cost of living comparison from CNNMoney.com shows that an annual income of $120,000 in Washington DC is equivalent to approximately $78,000 a year in Huntsville. To state it another way, relocation from the DC/Northern Virginia area to Huntsville is almost like getting a 50% pay increase. The comparison states that in Huntsville groceries were 14 percent less, utilities were 29 percent less, transportation was 7 percent less and healthcare was 18 percent less than in Washington. While not as large a difference, a $120,000 annual salary in Atlanta would equate to $113,000 in Huntsville. Groceries were 3.9 percent less, utilities 4.1 percent less, transportation 3.6 percent less and healthcare 12.4 percent less in Huntsville than in Atlanta.

Taxes
Alabama has some of the lowest income tax and property tax rates in the nation. A home valued at $100,000 in Huntsville would have a property tax bill of less than $600. Not true in Georgia or Virginia. Another item to consider is that retired military and civil service income is exempt from personal income tax in Alabama, making this state an ideal place for those planning to retire from military vocations soon.

From a financial point of view, transfers from Washington DC, northern Virginia or Atlanta should find enough relief to make the move worth their while.

For additional information or media interviews, please contact Mike Manosky at (256) 508-0211 or via email at Mike @ MoveToHuntsville.com or at the MoveToHuntsville.com website.

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Mike Manosky
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