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Pittsburgh real estate market overview
- Average Monthly Rent: $1,462
- Home Price/Value Percentage Change: 3.2%
- Median Home Value: $212,413
- Best Time To Sell a Home: May
- Affordability Index: 92
- Days To Sell a House: 67
- 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 has a population of 302,152, with a decreased growth rate of 0.09% annually.
The job market has decreased by -7.09% over the last year. In ten years, job growth is predicted to be 24.44%. Known as an affordable place to live and work, some companies headquarters located here include Kraft Heinz Company, US Steel, Roadbotics, Apple, Google, Facebook and the University of Pittsburgh Medical Center.
The cost of living in Pittsburgh is lower than Pennsylvania and the US average cost of living. Overall, it is a moderate affordable city to live in.
Pittsburgh real estate market details
- Mount Washington
- Shadyside
- The Strip District
- Bloomfield
- Squirrel Hill South and North
The average monthly rent in Pittsburgh is $1,462 for an average apartment size of 809sq. feet.
There has been a 3.2% increase in median home value over the last year. As of 2022, the median home value is $212,413.
On average, homes in Pittsburgh sell after 67 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 increased affordability in this city.
The top ranked public schools are Peebles El School, Whitehall El School, Dorseyville Middle School, Fort Couch Middle School, Upper Saint Clair High School, and Fox Chapel Area High School. This information is based on data measuring academic performance and equity.