Quantcast Pittsburgh Real Estate Benefits From Steady Growth
Pittsburgh Real Estate Benefits From Steady Growth

Unlike many cities affected by the economy’s ups and downs over the last 10 years, Pittsburgh real estate values have remained relatively constant. This western Pennsylvania city, once known as a steel capital, has recently experienced job growth in a variety of industries, and homebuyers attracted to the area have benefited from the revitalization of the metro area.

If you’re considering a move to Pittsburgh, you’re sure to find a great home in the area, deemed one of the best big cities to live in by Money Magazine in 2015.

Choosing the Best Neighborhood for You

Pittsburgh offers a variety of neighborhoods with distinct personalities, allowing homebuyers to search for a home in the areas best suited for them. For instance, the suburb of Mt. Lebanon has been recommended by Pittsburgh Magazine due to its highly rated schools, while Oakland is the home of many college students attending the University of Pittsburgh or Carnegie Mellon University, two of the 25 area colleges. Hipper, eclectic neighborhoods for those seeking an urban setting include Lawrenceville, East Liberty and the Strip District.

Remember to truly picture yourself living in a neighborhood before you jump in. As always, you should spend time researching and touring each neighborhood before buying to ensure you’re comfortable with important lifestyle factors, such as your work commute, local crime statistics and walkability.

Top Market for First-Time Buyers

According to SmartAsset, Pittsburgh ranked as one of the top markets for first-time homebuyers. With a median home price well below the national average, homes in the metro area are exceptionally affordable. Pittsburgh offers a new type of lifestyle – affordable luxury. With its low cost of living, the city provides many amenities for any budget.

In Pittsburgh, property values haven’t experienced the marked rise and fall noted in other U.S. cities during the last economic downturn; rather, home prices have averaged a 4 percent increase in the last five years. This manageable uptick has allowed many first-time buyers to purchase starter homes in several of the city’s neighborhoods.

Pittsburgh’s Renewed Appeal

Including the surrounding suburbs, the Pittsburgh area’s population is now approximately 2.4 million. After years of population decline, the trend has begun to reverse, leading Forbes to call Pittsburgh a comeback city. The median age of residents has also decreased, indicating the city is attracting younger residents, thanks to recent job growth in the tech, energy and medical industries.

Additionally, a host of investors have recognized the potential for price appreciation in the city, and this increased activity has led to Pittsburgh’s recent designation as the number one city in the country for real estate flippers. All of this renovation and remodeling of older Pittsburgh homes has brought on a deluge of updated inventory of properties for sale, benefiting those who wish to move to the city.

Pittsburgh is consistently regarded as an affordable living option with many big-city amenities, including a new baseball park, a hip dining scene and plenty of historical character.

If you’re moving to Pittsburgh, you have a lot to be excited about. In the past few years, the city has received high praise and many awards, from being named the number one food city to a top city for active lifestyles. If you’re considering relocation to western Pennsylvania, check out what’s available for sale right now on Owners.com.

Homes near you:

42825 CROSSBOW CT
Ashburn, VA 20147 | 4 BEDS 4 BATHS | 11326 FT²
$609,890
19385 CYPRESS RIDGE TER #711
Leesburg, VA 20176 | 3 BEDS 2 BATHS
$339,900
44006 ABERDEEN TER
Ashburn, VA 20147-3825 | 3 BEDS 4 BATHS | 1307 FT²
$367,900
20629 HOLYOKE DR
Ashburn, VA 20147-3233 | 4 BEDS 5 BATHS | 4792 FT²
$825,000
22021 CRESTED QUAIL DR
Ashburn, VA 20148-7129 | 5 BEDS 5 BATHS | 24829 FT²
$950,000
43579 PURPLE ASTER TER
Leesburg, VA 20176 | 4 BEDS 5 BATHS | 4356 FT²
$629,900
20317 MEDALIST DR
Ashburn, VA 20147-4184 | 5 BEDS 3 BATHS | 7841 FT²
$749,900
20741 DEWBERRY CT
Ashburn, VA 20147-4642 | 4 BEDS 3 BATHS | 13068 FT²
$639,500
19385 CYPRESS RIDGE TER #1120
Leesburg, VA 20176 | 3 BEDS 2 BATHS
$315,000
43798 ABBOTT PL
Ashburn, VA 20147 | 4 BEDS 5 BATHS | 9148 FT²
$749,500
21828 LADYSLIPPER SQ
Ashburn, VA 20147 | 3 BEDS 4 BATHS | 2178 FT²
$469,900
FOGGY RIDGE TER
Ashburn, VA 20148 | 3 BEDS 3 BATHS | 1920 FT²
$499,990
19375 CYPRESS RIDGE TER #1106
Leesburg, VA 20176 | 2 BEDS 2 BATHS
$299,000
23424 GARDENWALK DR
Ashburn, VA 20148 | 4 BEDS 4 BATHS | 6534 FT²
$624,900
23458 EPPERSON SQ
Ashburn, VA 20148-7431 | 3 BEDS 4 BATHS | 3049 FT²
$579,000
44302 ACUSHNET TER
Ashburn, VA 20147-7102 | 3 BEDS 3 BATHS | 1742 FT²
$449,400
20002 PALMER CLASSIC PKWY
Ashburn, VA 20147-5203 | 5 BEDS 5 BATHS | 14810 FT²
$824,000
20058 VALHALLA SQ
Ashburn, VA 20147 | 3 BEDS 4 BATHS | 4356 FT²
$610,000
20455 QUIET WALK TER
Ashburn, VA 20147-3352 | 3 BEDS 3 BATHS | 1307 FT²
$324,900
20406 ALDERLEAF TER
Ashburn, VA 20147 | 2 BEDS 2 BATHS
$317,900
43764 LEES MILL SQ
Leesburg, VA 20176-3821 | 3 BEDS 4 BATHS | 3485 FT²
$515,000
41779 PRAIRIE ASTER CT
Ashburn, VA 20148-1743 | 4 BEDS 5 BATHS | 24829 FT²
$1,350,000
43943 LOUISA DR
Ashburn, VA 20147-3322 | 4 BEDS 4 BATHS | 6970 FT²
$549,900
42628 HIGHGATE TER
Ashburn, VA 20148-6404 | 3 BEDS 3 BATHS
$353,900

Don't miss a listing

Get the owners.com app today

People are also reading