Pittsburgh proves it's cheaper to buy a home than rent

In June 2025, a significant report released by Realtor.com highlighted Pittsburgh as the sole major U.S. city wherein buying a home is more affordable than renting one. This revelation stands in stark contrast to the trends seen in the other 49 largest metropolitan areas, where renting is more economical than buying. The monthly cost to rent a median home in Pittsburgh was recorded at $1,473, which is remarkably lower than the national average asking rent of $1,711. Meanwhile, the monthly cost associated with purchasing a starter home in the city was estimated at $1,362, leading to a potential monthly saving for buyers of $111 compared to renters. Economists derived these figures by assuming a 9% down payment on a 30-year fixed mortgage, factoring in additional costs such as HOA fees, taxes, and homeowners insurance. The trend observed in Pittsburgh serves as a significant point of interest for both potential homebuyers and real estate analysts. Since 2019, the city has witnessed a notable increase in home prices, which rose roughly by 31%. However, the rent prices surged even more dramatically by approximately 40%, contributing to the current real estate dynamics. The sharp rise in rental costs has led homeownership to become a feasible and financially advantageous option for those considering a move to Pittsburgh. Realtor.com’s senior economic research analyst, Hannah Jones, noted that this unique situation underscores Pittsburgh's profile as one of the most affordable places to live and buy a home in the United States. Furthermore, Pittsburgh stands out as one of the rare metropolitan regions where a median-income household can access a median-priced home. Real estate experts suggest that the blend of economic factors, including income levels, urban development, and housing supply and demand, plays a role in this affordability. With these trends indicating that Pittsburgh achieves greater economic balance in the housing market compared to its counterparts, it presents a compelling case for individuals and families contemplating relocation. The data reflects the city's resilience and potential for sustained growth in housing in the coming years. Overall, Pittsburgh’s scenario can be viewed not only as an anomaly but as a possible blueprint for other cities facing similar challenges. As real estate markets adjust and evolve post-pandemic, discussions around affordability and market accessibility will remain crucial. The ongoing shift in economic conditions may further influence whether other metropolitan areas will eventually follow suit, possibly tilting the balance more towards home purchases, depending on how market dynamics continue to play out.