Why Invest In Pittsburgh Market?

By The 100 Percent Financed Team on August, 9 2019
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Investment Opportunity In Pittsburgh Market

 

Are you looking to grow your investment in real estate business and expand your portfolio? If yes, then Pittsburgh should be on top of your list of the areas to consider.

Pittsburgh is a city with great potential for real estate investors because it is still growing. It is home to Carnegie Mellon University (CMU) which is famous for producing the much-sought-after engineering and technology experts.

Not far from CMU is the University of Pittsburgh which has world-class medical and business programs which produce highly skilled workforce.

The more reason to invest in Pittsburgh is that the once-neglected warehouses and swaths of land have turned into high-end condos, office buildings, shopping malls, and entertainment joints.

All these should make the city appealing to you as an investor. Keep reading to find out more reasons why you should consider buying an investment property in Pittsburgh.


Emerging Trends in Real Estate 2019 Report

Every year, the Urban Land Institute (ULI) and PricewaterhouseCoopers (PwC) released a report on the emerging trends in real estate. The story has predictions of what to expect in the real estate industry, and it gives a list of the best cities to buy investment properties in the US.

Even though Pittsburgh didn't appear at the top of the list, leading economists mentioned that the city has some unique attributes that deserve investors' attention.


Pittsburgh Home Prices and Appreciation

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Pittsburgh is a world-class city, but the home prices in the town are much lower than the national average rate. Furthermore, the median sales price of houses in Pittsburgh is lower than the median listing price of homes for sale. It means Pittsburgh is a buyer's market when it comes to real estate.

Another reason why investors are flocking in Pittsburgh is real estate appreciation. The city has seen a keen appreciation of rental properties over the past decade. The historical home price appreciation for real estate properties in Pittsburgh is as follows:

+ 6.2 percent in the last year

+ 23 percent in the previous 5 years

+ 32 percent over the previous ten years

Which means the real estate properties will continue to appreciate and so the best time to invest is now.


The Best City for Jobs

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Glass door, the most massive job and recruiting site in the world, has crowned Pittsburgh as the best city for jobs for two years in a row. It's ranking focuses on many factors related to jobs, including hiring opportunities, median base salary, cost of living, area's affordability, as well as job satisfaction.

Pittsburgh is also known for its steel, glass, natural gas, and oil production. All these make it an active job market, not to mention health care, robotics, engineering, education, and film industries. This astounding job market, tagged with vibrant culture, low crime rate, and affordability, makes Pittsburgh the best place to invest.


Is It Better to Rent Than to Own in Pittsburgh?

 

According to Hardin & Johnson Buy vs. Rent Index, it is better to rent than to own a home in Pittsburgh. The index predicts that there will be a downward demand for homeownership in Pittsburgh and other cities such as Dallas, Atlanta, Los Angeles, Seattle, Denver, Philadelphia, Minneapolis, Honolulu, and San Francisco. As a real estate investor, you can take advantage of this by investing in rental houses.

Furthermore, many people like to live in Pittsburgh because of its strong job market, which is good news for real estate investors. If anything, who doesn't want long-term tenants?


Take Away

The best time to invest in Pittsburgh is now! The real estate properties are appreciating, and this means the longer you wait, the higher you will pay. Getting a property that suits your taste and budget can be a challenge; that's why you need the services of Real Estate Agents such as 100 Percent Financed.

For what reason are you still waiting? We've been in this business for many years, and you can be sure that we will help you the best deal no matter how much you are planning to invest.

Learn About Multi-Unit Acquisition

 

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