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Pittsburgh real estate market overview
- Average Monthly Rent: $1,475
- Home Price/Value Percentage Change: 1.00%
- Median Home Value: $219,162
- Best Time To Sell a Home: May
- Affordability Index: Moderate
- Days To Sell a House: 63
- Job Market: Weak
- Public School Ranking: 18
Location and weather
This East Coast city is built on innovation, technology, education, and medicine. It is described as mid-sized, due to its small town feel but big city layout. Pittsburgh was named the 6th best metro area for STEM professionals in 2021 by WalletHub, but it has proved to also be a great place to raise a family. Full of riverfronts, recreation, parks and beautiful skylines, this city has attracted visitors and residents for many years. Pittsburgh is also known for its history and blue-collar reputation. In this city, residents enjoy all four seasons.
The weather consists of 38 inches of rain per year and has warm summers, with cool winters.
Population, job market and cost of living
Pittsburgh population in 2023 is 302,152, with a growth rate of -0.09% annually.
The job growth has decreased by -7.09% over the last year and in ten years, is predicted to have increased by 24.44%. The major industries are health care and social assistance, retail trade and manufacturing. The biggest companies to work for are UPMC, PNC Financial Services Group, PPG, Highmark and Kraft Heinz Company.
The cost of living is moderate, due to the Pittsburgh real estate market and cost of available housing. With an impressive manufacturing job base, revitalized city center of restaurants and shops, major sports culture, and low cost of living, Pittsburgh will continue evolving from a steel town to a cosmopolitan city.
Pittsburgh real estate market details
- Polish Hill
- Carrick
- Herrs Island
- Brookline
- Brighton Heights
The average monthly rent in Pittsburgh is $1,475 for an average apartment size of 811 sq. feet.
There has been a 1.0% increase in median home value over the last year. As of 2023, the median home value is $219,162.
On average, homes in Pittsburgh sell after 63 days on the market.
The most profitable month to sell a home in Pittsburgh is during May. The quickest month to sell is in September.
The affordability index in Pittsburgh is 92. This number indicates moderate affordability in this city.
The top ranked public schools are Fairview Elementary School, Eisenhower Elementary School, Markham Elementary School, O'hara Elementary School and Baker Elementary School. This information is based on data measuring academic performance and equity.