Rent in Pittsburgh is Still Affordable

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Real Estate

Strong renters’ market in Pittsburgh

Thinking of renting to wait out the red-hot real estate market in the Greater Pittsburgh area? Pittsburgh is emerging as one of the top 50 cities in the country for renters, according to WalletHub.

The city has ranked high in affordability, availability of units and quality of life. Across the U.S., more than 44 million households have opted to rent rather than buy a home.

Though renting isn’t always the better or cheaper alternative to home ownership, there are some key reasons why Pittsburgh ranks high.

  • The median rent in Pittsburgh increased about 6% from 2020-2021 but still remains comparatively low at about $1,650 a month for a 3-bedroom home.
  • About 50% of the housing stock in Pittsburgh is occupied by renters.
  • Neighborhoods in Pittsburgh with the lowest rents include Elliot, Marshall-Shadeland, and Hays where average rents are $850 per month or less.
  • Pittsburgh neighborhoods with the highest monthly rents include Strip District, Downtown Pittsburgh, and West Oakland where rents range between $3,291 and $5,530 per month.

The most recent Pittsburgh Regional Quality of Life Survey by the University of Pittsburgh found that 68% of the residents in Allegheny County (where Pittsburgh is located) rated the region as either an excellent or very good place to live.

Some key findings:

  • Bus service is free in Downtown Pittsburgh and the North Shore areas.
  • The Carnegie Museum of Art is just one of many cultural attractions in the area.
  • With 446 bridges, Pittsburgh is nicknamed the “City of Bridges” and has more than any other city in the world.
  • Heinz Ketchup hails from Pittsburgh, the Big Mac was created here, and the first emoji was created by at Carnegie Mellon University.
  • The city is home to three major sports franchises: the Pittsburgh Pirates, Pittsburgh Steelers, and Pittsburgh Penguins.

Whether you’re in the market to rent or buy, Pittsburgh has a lot to offer potential residents.