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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Pittsburgh, PA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Pittsburgh, PA Housing Market Trends

With a population of 302,898, 137,747 total housing units (homes and apartments), and a median house value of $222,566, house prices in Pittsburgh are solidly below the national average.

Single-family detached homes are the single most common housing type in Pittsburgh, accounting for 44.08% of the city's housing units. Other types of housing that are prevalent in Pittsburgh include large apartment complexes or high rise apartments ( 25.49%), duplexes, homes converted to apartments or other small apartment buildings ( 15.11%), and a few row houses and other attached homes ( 14.83%).

People in Pittsburgh primarily live in small (one, two or no bedroom) single-family detached homes. Pittsburgh has a mixture of owner-occupied and renter-occupied housing.

The housing in Pittsburgh was primarily built before 1939 ( 48.79%), making the housing stock in Pittsburgh some of the oldest overall in America, although there is a range of ages of homes in Pittsburgh. The next most important housing age is between 1940-1969 ( 29.76%), followed by between 1970-1999 ( 14.53%). There's also some housing in Pittsburgh built between 2000 and later ( 6.93%).

Vacant housing appears to be an issue in Pittsburgh. Fully 12.53% of the housing stock is classified as vacant. Left unchecked, vacant Pittsburgh homes and apartments can be a drag on the real estate market, holding Pittsburgh real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Pittsburgh Home Appreciation Rates

Appreciation rates for homes in Pittsburgh have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 97.02%, which ranks in the top 40% nationwide. This equates to an annual average Pittsburgh house appreciation rate of 7.02%.

NeighborhoodScout's data show that during the latest twelve months, Pittsburgh's appreciation rate, at 3.68%, has been at or slightly above the national average. In the latest quarter, Pittsburgh's appreciation rate has been 5.01%, which annualizes to a rate of 21.58%.

Importantly, this makes Pittsburgh one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Pennsylvania, our data show that Pittsburgh's latest annual appreciation rate is lower than 70% of the other cities and towns in Pennsylvania.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Pittsburgh differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Pittsburgh - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Pittsburgh real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$222,566

Pittsburgh, PA Home Prices
> $1,356,000
$1,017,001 - $1,356,000
$678,001 - $1,017,000
$542,001 - $678,000
$407,001 - $542,000
$271,001 - $407,000
$136,001 - $271,000
$68,001 - $136,000
$0 - $68,000
1.3%
1.3%
2.2%
2.2%
6.9%
6.9%
5.8%
5.8%
9.1%
9.1%
14.3%
14.3%
29.1%
29.1%
21.0%
21.0%
10.3%
10.3%
0% 100.0%
% of Homes
Average

for Pennsylvania

Average

for nation

Number of Homes And Apartments:

137,747

Pittsburgh Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,825 / per month

Homeownership Rate

Owners
Renters
Vacant
43.8%
43.8%
56.2%
56.2%
12.5%
12.5%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
6.9%
6.9%
14.5%
14.5%
29.8%
29.8%
48.8%
48.8%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
44.1%
44.1%
14.8%
14.8%
15.1%
15.1%
25.5%
25.5%
0.5%
0.5%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
3.6%
3.6%
21.5%
21.5%
30.1%
30.1%
31.1%
31.1%
9.0%
9.0%
4.7%
4.7%
0% 100.0%
% of Homes