Pittsburgh PA Real Estate - Pittsburgh PA Homes For Sale | Zillow (2024)

FAQs

Are house prices dropping in Pittsburgh? ›

What is the housing market like in Downtown Pittsburgh today? In June 2024, Downtown Pittsburgh home prices were down 10.4% compared to last year, selling for a median price of $345K.

As one of the most affordable places to live in PA, Pittsburgh offers an enticing combination of affordable housing costs, favorable mortgage rates, low-interest rates and financing opportunities.

Is Pittsburgh, PA a buyer's or seller's market? Since last year, Pittsburgh has remained a Seller's Market. Pittsburgh is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

The neighborhood's housing prices have been steadily rising in recent years due to the high demand for properties in the area, and the median home price in December 2022 was $578K, an increase of 38.9% from December 2021.

In some metro areas, such as Detroit, Pittsburgh and Philadelphia, the gap between renting and buying is smaller, with a buy-to-rent ratio of only 2%. In other metro areas, like San Francisco, San Jose and Seattle, the gap is sizable, with the buy-to-rent ratio as high as 180.7%.

Pittsburgh is a convenient, affordable place to live and work—with a cost of living 7% lower than the national average, a reasonable median home price of $259,900, and median monthly rent of $1,427. The city also has a range of top-notch companies in the education, technology, healthcare, and steel industries.

Pittsburgh Among Nation's Best Places To Retire: U.S. News | Pittsburgh, PA Patch.

You would need around 6,603.5$ in Orlando, FL to maintain the same standard of life that you can have with 7,000.0$ in Pittsburgh, PA (assuming you rent in both cities). This calculation uses our Cost of Living Plus Rent Index to compare the cost of living and assume net earnings (after income tax).

Priced out: New Harvard report highlights growing affordable housing crisis. For years, the Pittsburgh region has seen residents of communities like East Liberty and Garfield squeezed out of neighborhoods they can no longer afford to live in due to a growing affordable housing crisis.

What is the crime rate in Pittsburgh, PA? ›

Home prices are significantly below the national average for the US- even after consecutive months of increase since the beginning of 2023. There is a substantial inventory and plenty of properties to choose from- making it an affordable city that is great for real estate investing.

The months from March to June are the best time to buy a house in Pennsylvania. This is due to the higher inventory, increased competition among sellers, and potentially lower asking prices.

It's much more affordable than other big cities around the country while boasting enviable big-city amenities, such as top-ranked universities, a thriving tech scene, world-class cultural institutions, diversity, and so much more.

Pittsburgh. #72 Healthiest Places to Live in America.

The spring (late March to June), generally regarded as the beginning of the housing shopping season, is the best time of the year to sell a home in Pittsburgh, Pennsylvania. You stand a good chance of selling your home quickly and for the highest possible price during this time, usually within 30 days.

For years, the Pittsburgh region has seen residents of communities like East Liberty and Garfield squeezed out of neighborhoods they can no longer afford to live in due to a growing affordable housing crisis.

Pennsylvania Housing Market Overview

In June 2024, home prices in Pennsylvania were up 6.2% compared to last year, selling for a median price. On average, the number of homes sold was down 11.2% year over year and there were 11,650 homes sold in June this year, down 13,139 homes sold in June last year.

Pittsburgh is an attractive place for real estate investors because of the low prices. However, those low prices don't always translate to high profits. Pittsburgh can be a great market for real estate investors to get into.