Vibrant city famous for sport and sandwiches named America’s best place to buy an affordable home
Move over, New York and LA β there’s a new city on the real estate market.
Pittsburgh, Pennsylvania, has just been crowned America’s best place to buy an affordable home, according to a new report from Forbes Advisor.
The Steel City is no longer just about heavy industry; it’s also a hotspot for sports and sandwiches, and now for savvy house hunters looking for more bang for their buck.
With a perfect score of 100 out of 100, Pittsburgh left behind other major metros in Forbes’ analysis of the 100 largest U.S. cities.
It outpaced 99 other major U.S. metros in a comprehensive analysis of factors such as affordability, inventory and lifestyle.
Pittsburgh, Pennsylvania, was just crowned America’s best place to buy an affordable home, according to a new report from Forbes Advisor
The Steel City is no longer just about heavy industry – it is also a hotspot for sports and sandwiches – and now also for smart house hunters who want to get more value for their money (photo: people walk past the restaurants and shops on the market square in the center )
The city stands out for its mix of affordable housing, top-notch schools and a vibrant food scene.
The city’s median home price of $236,067 ranks as the 19th lowest nationwide, offering hope for price-conscious buyers in an increasingly expensive housing market.
Pittsburgh residents enjoy remarkably low housing costs; they spend just 14.8 percent of their income on home-related expenses β the second lowest percentage of all cities surveyed.
The local real estate market is bursting with opportunity and ranks fifth in terms of listings per 100,000 households.
This abundance of choice adds to the appeal of the city’s housing market.
It is also attractive to families; the city’s school system ranks fifth in quality among the areas analyzed.
Aerial view of large Victorian homes in Friendship, a neighborhood in the East End of Pittsburgh
A row of houses in the Shadyside residential neighborhood of Pittsburgh, Pennsylvania
In addition to affordability, Pittsburgh offers a rich array of cultural attractions, dining options, and outdoor activities.
Pittsburgh is known for its legendary sports teams and the iconic Primanti sandwich, a high-carb meal filled with fries and coleslaw.
It also boasts a thriving arts and culture scene and outdoor adventures galore – from biking to kayaking in historic Point State Park.
The city’s transformation from industrial powerhouse to diverse urban center has made it an increasingly attractive destination for homebuyers.
Close on Pittsburgh’s heels are Fort Wayne, Indiana and Buffalo, New York, securing second and third spots, respectively.
A row of houses in Pittsburgh’s Morningside neighborhood
It outpaced 99 other major U.S. metros in a comprehensive analysis of factors such as affordability, inventory and lifestyle
Fort Wayne has a median home price of $227,322 and a low crime rate.
Meanwhile, Buffalo offers the eighth-lowest median home sale price at $211,133 and proximity to two Great Lakes for outdoor enthusiasts.
This comes at a time when the US is facing a housing affordability crisis, as inflation and the economy as a whole have become the top concern for Americans.
But in 2022, Pennsylvania dethroned Florida as the top retirement state, with the city of Lancaster topping the list of the best places to settle.
In addition to affordability, Pittsburgh offers a rich array of cultural attractions, dining options and outdoor activities (Photo: Two adults shopping in the used book and clothing stores and selling on the sidewalks in Pittsburgh’s Strip business district)
The city also boasts a thriving arts and culture scene and outdoor adventures galore β from biking to kayaking in historic Point State Park. (Image: Pittsburgh skyline with the famous ‘Rachel Carson Bridge’, several skyscrapers and the Allegheny River waterfront)
A house in Pittsburgh’s Summerset neighborhood on a sunny winter day
A U.S. News & World Report survey found that Lancaster, 80 miles west of Philadelphia and home to the nation’s oldest Amish community, was the most desirable city for retirees concerned about housing affordability and the quality of life.
The top six factors taken into account in the study include happiness, quality of healthcare, taxes on retirees, desirability and labor market ratings.
While happiness was the main factor in last year’s report, US News found that inflation, which remains persistently high at 8.2 percent, rising mortgage rates and fears about the economy led to a notable change in the survey.
βThe dramatic shift in the housing market, high inflation and concerns about an impending recession are causing retirees to weigh housing affordability more heavily when considering where to retire,β Emily Brandon, U.S. News’ retirement editor-in-chief, said at the time in a statement.