Market Analysis
Pittsburgh Rental Market
Rental investment market data and analysis · Updated November 2026
Median Home Price
$312,500
Average Monthly Rent
$1,574
Estimated Cap Rate
6.0%
Rent-to-Price Ratio
0.5%
Below 1% Rule
Rent ÷ price by zip code
0 of 4 clear the 1% rule · November 2026
| Zip | Median price | Median rent | Rent ÷ price |
|---|---|---|---|
| 15213 | $265,000 | $1,900 | 0.72% |
| 15235 | $205,000 | $1,395 | 0.68% |
| 15206 | $360,000 | $1,500 | 0.42% |
| 15217 | $399,900 | $1,500 | 0.38% |
Context · FRED home price index
Market Trends
Pittsburgh metro area — % change since 2018
Home Prices
+68.9%
Rent Index
+36.2%
Average Rent by Bedroom
| Bedrooms | Avg Rent |
|---|---|
| Apartment | $1,378/mo |
| Condo | $1,633/mo |
| Multi-Family | $1,650/mo |
| Townhouse | $1,779/mo |
| Single Family | $2,246/mo |
Sample Investment Analysis
Based on median price + average rent, 20% down, 6.8% rate, 30yr
Purchase Price$312,500
Down Payment (20%)$62,500
Monthly P&I$1,630
Monthly Rent$1,574
Est. NOI$11,333/yr
Est. Cash Flow-$685/mo
Cash on Cash-12.0%
The Pittsburgh market is cash-flow negative at median prices. Look for properties 15-20% below median or with value-add potential.
What Investors Should Know About Pittsburgh
- 1Moderate cap rates suggest balanced cash flow and appreciation
- 21% Rule fails at median prices — need rent of $3,125/mo to pass
- 3Below-average rents keep entry costs low for new investors
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