Pittsburgh Renting Rates Rising Quickly

A map of Pittsburgh, Pennsylvania with its nei...

A map of Pittsburgh, Pennsylvania with its neighborhoods labeled. For use primarily in the list of Pittsburgh neighborhoods. (Photo credit: Wikipedia)

If it seems as though rental prices in Pittsburgh have been in a bull market over the past several years, that’s because they have.

While large metro areas like New York and San Francisco have grabbed headlines for their sky-high rental prices, Pittsburgh’s rental market is actually rising at a faster rate than New York’s, according to a study from personal finance website NerdWallet.

“We were looking at growth rates, rather than cities with the highest rents, and Pittsburgh is in a rapid economic growth period now,” said Divya Raghavan, a senior analyst for NerdWallet in San Francisco. “While New York and San Francisco are already well-established top cities in the U.S., Pittsburgh is considered an up and coming city.”

Read more: http://www.post-gazette.com/business/finance/2014/04/18/Pittsburgh-renting-rates-rising-quickly/stories/201404180004#ixzz2zGE35Ub1

Enhanced by Zemanta

One comment on “Pittsburgh Renting Rates Rising Quickly

  1. The rental market in Pittsburgh actually appears absurdly overpriced. In D.C. one can rent a 2 bedroom, 2 bathroom, totally updated condo/apartment in a full amenity building ( roof top swimming, rooftop landscaped dining areas with full outdoor kitchen, indoor gym, movie room with bar area, party room with bar and full kitchen, concierge and gorgeous lobby and public indoor & outdoor spaces etc etc etc with indoor parking available for additional fee.) All within walking distance ( 2 blocks) of the National Mall and monuments etc, Right outside the door almost ANY type of dining & shopping and all that vibrant D.C. has to offer. All of this for less than the ridiculously expensive pedestrian units being touted in “Downtown Pittsburgh and its suburbs. There appears to be a very greedy and unrealistic attitude by the sellers and landlords in the confusingly over-touted & often promoted Pennsylvania city. What is going on? Certainly one can’t compare the two locales and the stats on incomes additionally make no sense to me. Growth Rate? How about bubble?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s