P
ittsburgh ranks as the U.S.’s most affordable large‑city market, according to a recent Realtor.com study. In October, the metro’s median listing price hit $250,000—over $150,000 below the national median—making it the lowest‑priced major market nationwide. Nearly one in five homes in the city have seen price cuts as buyers gain leverage in a shifting market.

    The Steel City drew national attention this summer when it became the only major metro where buying a first‑time home was cheaper than renting, a headline from Realtor.com. Among the 50 largest U.S. metros, Pittsburgh was one of only three that met the 30% affordability rule, which advises buyers spend no more than 30% of pre‑tax income on housing. In a June report, senior economic research analyst Hannah Jones noted that a typical Pittsburgh home costs $249,900, requiring just 27.4% of the median income for a 20% down payment and a standard 30‑year fixed mortgage.

    Pittsburgh comprises 90 neighborhoods. In September 2025, the median list price rose 3.5% year‑over‑year to $269,000, while the median sold price edged higher at $271,000. Despite mortgage rates hovering near two‑decade highs—currently around 6.24% for a 30‑year fixed—Pittsburgh remains a bright spot for buyers struggling with nationwide affordability.

    Mortgage rates have ticked up for the second consecutive week, per Freddie Mac’s Primary Mortgage Market Survey. Senior economist Anthony Smith of Realtor.com described the near‑flat rate movement as a market pause amid lingering fiscal and economic uncertainty, with no clear catalyst to push rates decisively higher or lower.