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Pittsburgh stands out as only U.S. city cheaper to buy than rent, report says

Megan Swift
8705249_web1_PTR-Downtown-Pittsburgh-view-from-31st-St-Bridge-2025-001
Justin Vellucci | TribLive
The Downtown Pittsburgh skyline sits near the banks of the Allegheny River in this photo taken from the 31st Street Bridge in Pittsburgh on Tuesday, July 1, 2025

Pittsburgh came out on top in a new Realtor.com rental report as the only U.S. city where it’s cheaper to buy a home rather than rent.

According to the report, renting saves over $900 per month compared to buying a home in 49 out of 50 of the largest cities nationwide, save Pittsburgh.

Leasing a home in the city ranging from a studio to a two-bedroom apartment cost $1,473 last month, which is well below the national median asking rent of $1,711, Realtor.com reported.

However, purchasing a starter home typically just costs $1,362 per month. Realtor.com said that figure is derived from economists assuming a 9% down payment and utilizing the 30-year fixed mortgage rate in June, before adding HOA fees, taxes and homeowners insurance.

The median June list price in Pittsburgh was $255,050, which Realtor.com said is the same as last year.

“Pittsburgh remains one of the most affordable places in the U.S. to live and to buy a home,” said Realtor.com senior economic research analyst Hannah Jones. “It’s the only major market where buying a home is cheaper than renting, and one of just three large metros where a median-income household can afford a median-priced home.”

Home prices in Pittsburgh have climbed roughly 31% since 2019, but rents have climbed nearly 40% over the same time period.

From June 2024 until this June, the cost of rent went up just 0.2%, while the median house cost rose 1% annually, according to the report.

But comparatively, rents have fallen annually across all 50 of the largest U.S. metros for the 23rd consecutive month, dipping by $36 compared with the same period a year ago.

Megan Swift is a TribLive reporter covering trending news in Western Pennsylvania. A Murrysville native, she joined the Trib full time in 2023 after serving as editor-in-chief of The Daily Collegian at Penn State. She previously worked as a Jim Borden Scholarship intern at the Trib for three summers. She can be reached at mswift@triblive.com.

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