Prospective home buyers are racing to snap up a house in Pittsburgh, PA where people can snap up a house for less than $245,000.
According to new research from Realtor.com, the city’s home listings are being viewed 1.5 times more than the US national average.
The new figures come as house prices continue to climb, locking more and more Americans out of home ownership.
According to Realtor.com’s September Housing Market report, the medium national house price was $425,000 last month.
While home ownership is increasingly out of reach for many people, there are still pockets of the country where houses remain affordable.
The new research has found housing in Pittsburgh may still be in reach for buyers, with the median house price less than $180,000 below the national average.
Pittsburgh is the second largest city in Pennsylvania, with an estimated population of 310,000.
VIBRANT CITY LIGHTS
According to local tourism body Visit Pittsburgh, the city is a vibrant hub of technology, education and medicine.
In 2021, WalletHub named Greater Pittsburgh its sixth-best metro area for STEM professionals.
“Pittsburgh is a vibrant, mid-sized city that has the feel of a small town,” Visit Pittsburgh said.
“Its approachability can be seen on the faces of its energetic, hard-working and proud people.”
HOME OF CHAMPIONS
Pittsburgh is known to Americans as the home of champion sports franchises.
The city is home to three widely-known teams including the Steelers, Penguins and Pirates.
It has blue-collar roots, and is commonly called the Steel City.
In the past, the city was the steel making capital of the world, with the steel building famous New York City landmarks including the Brooklyn Bridge, George Washington Bridge, Chrysler Building, and the Empire State Building.
The city also hosts a number of special events and festivals to celebrate various cultures engrained in the city.
We have seen consistent under-building for the last 20 years
James Yockel
CITY SAVINGS
Realtor.com has also found a number of other cities which remain relatively affordable for new home buyers.
Detroit, Michigan also boasts a median house price of $277,000, while Buffalo, New York lists its median price as $282,500.
Rochester, New York has a median home list price of $282,500.
This means the city is ranked number 18 among Realtor.com’s September Hottest Housing Markets.
The price of a house in Rochester, New York is $143,000 less than the national median.
Realtor.com said list prices have actually seen a 13% increase year over year but remain low compared to the national average.
House prices have seen an increase as there have been fewer homes for sale than in the past, putting a squeezer on the market.
