Real Estate
Pittsburgh Among 2023's Most Affordable Cities For Home Buyers: Study
A new WalletHub analysis of best home affordability locations has Pittsburgh near the top of the list.
PITTSBURGH, PA — If you're looking for an affordable city in which to purchase a home, it's difficult to find one better than Pittsburgh. That's according to a just-released study by financial analytics website WalletHub.
Pittsburgh ranked only behind Detroit for housing affordability among large cities with a population exceeding 300,000, according to the analysis; it was seventh overall in the general rankings behind Montgomery, AL; Flint, MI; Toledo, OH; Detroit; Akron, OH and Warren, MI.
The metrics used included housing affordability based on median house price and median annual income; maintenance affordability; average cost of homeowner's insurance; cost of living; cost per square foot; real estate tax rate; rent-to-price ratio; median home price appreciation; quarterly active listings per capita and vacancy rate.
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Data used to create the rankings were collected from the U.S. Census Bureau, The National Association of Realtors, Council for Community and Economic Research and the Insurance Information Institute.
Find out what's happening in Pittsburghfor free with the latest updates from Patch.
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