Colloquially known as the Golden Triangle, downtown Pittsburgh narrows to a vertex at Point State Park, which is at the confluence of the Allegheny and Monongahela rivers. Downtown is the corporate center of Pittsburgh, housing PNC Bank, U.S. Steel, Heinz, and many other companies that call the city home. But it’s not all skyscrapers and office space: In recent years, a spate of residential development has brought new condos and apartment complexes back into the area, and some of Pittsburgh’s most iconic cultural establishments, like the Heinz Theater, the Benedum Center, and the O’Reilly Theater, home of the Pittsburgh Public Theater company, are longtime anchors.
If you're not sure how much an apartment will cost, the table below shows the average price by size.
Welcome to the October 2020 Pittsburgh Apartment Report. In this assessment of the local rental market, ABODO data scientists and rental experts break down the October 2020 key findings and figures for the Pittsburgh rental landscape.
Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Pittsburgh and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Pittsburgh rent prices in the chart below.
Pittsburgh rent prices increased over the last month. From September to October, the city experienced a 1.62% increase for the price of a one-bedroom apartment. The rent price for a Pittsburgh one-bedroom apartments currently stands at $1,065.0.
When we take a look at the two-bedroom comparison from September to October, Pittsburgh experienced a -0.08% decrease for the price of a two-bedroom apartment. The rent price for a Pittsburgh two-bedroom apartments currently stands at $1,271.0.
Rent prices have increased in Pittsburgh over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 4 of the Pittsburgh suburbs increased last month. On the other hand, 3 local areas experienced a decrease in the price of a one-bedroom apartment.
More key findings include:
Rent increased in Monroeville, PA, Cranberry Twp, PA, Bethel Park, PA, Washington, PA .
Rent decreased in Moon Township, PA, Greensburg, PA, Bellevue, PA.
4 suburbs are currently priced higher than the city of Pittsburgh.
3 suburbs are currently priced lower than the city of Pittsburgh.
Rent growth in Pittsburgh over the past year has been on the rise. When compared to major cities nearby, along with some of the most expensive cities in the country, Pittsburgh rent prices appear to be relatively affordable for local residents.
The price for a Pittsburgh one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.
You can view the full rundown of ABODO's October 2020 National Apartment Report and data set here.
For more information about Pittsburgh and surrounding area rent prices, take a look at the complete data set below.
|1 BR October||1 BR M/M % Change||2 BR October||2 BR M/M % Change|
|Moon Township, PA||$1,068.0||-0.56%||$1,330.0||-0.30%|
|Cranberry Twp, PA||$1,328.0||0.45%||$1,438.0||-2.24%|
|Bethel Park, PA||$1,066.0||3.20%||$1,654.0||0.67%|
Each month, using over 1 million ABODO listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.