Pittsburgh has been notorious for receiving accolade after accolade in recent years. Regardless if we’re “The Most Livable City In America” (How many times have we won that now?), or because of our stable housing market and fantastic schools, or maybe because we simply have the best people in the world living here; the Steel City always seems to land on various “Top 10” lists.
So if you think it’s time to add another list to Pittsburgh’s list, well…
Zillow recently released their “10 Most Affordable Housing Markets for Homebuyers”, and you guessed it. Not only did we place in the Top 10, Pittsburgh landed at #2!
Housing markets can be deceiving. In some instances, a market’s median home price is lower than other areas, but that market may actually be unaffordable for people who live there. To try and paint a clearer picture, Zillow measured affordability by the share of median income that residents pay for a 30-year fixed mortgage on a typical home. Using those parameters, only Oklahoma City, OK, ranked higher than Pittsburgh.
Using our parameters, however, Oklahoma City doesn’t have three of the most storied sports franchises in North American sport history, our immense melting pot of ethnic foods and backgrounds, and we’re certain they don’t put french fries on sandwiches. Therefore, we would take a slight edge over “OKC”. But, alas, we do tend to be a little biased and protective of our city. 😉
Pittsburgh finished second with these statistics:
|Share of Income Spent on Mortgage: 10.9%|
|Zillow Home Value Index: $139,100|
|National Population Rank: 22|
|Inventory: 9,671 homes|
Zillow’s full Top 10 list read as follows:
- Oklahoma City, OK
- Pittsburgh, PA
- Indianapolis, IN
- Memphis, TN
- St. Louis, MO
- Detroit, MI
- Birmingham, AL
- Cincinnati, OH
- Cleveland, OH
- Kansas City, MO
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