Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Allegheny County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $120,423 | $154,283 | $242,182 |
| Price Trend (Annual %) | 4.3% | 4.4% | 8.2% |
| Median Gross Rent | $1,111 | $1,161 | $1,342 |
| Rent Trend (Annual %) | 4.8% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Allegheny County is about 22% lower than in Pennsylvania. Rent is about 4% lower than the Pennsylvania average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Allegheny County, up about 4.3% and 4.8% a year respectively. Rent is changing faster.
Median rent in Allegheny County rose about 42.5% between 2015 and 2023, from $779 to $1,111. Over the same span, rent in Pennsylvania rose about 38.3%.
Affordability
On average, housing unit costs 1.6 yearly household incomes in Allegheny County.
Buying the median-priced home in Allegheny County costs roughly 9.0 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Allegheny County. The price-to-rent ratio in Pennsylvania is about 11.1.
| Metric | Allegheny County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $120,423 | $154,283 | $242,182 |
| Median Household Income | $76,617 | $76,231 | $78,145 |
| Price-to-Income Ratio | 1.6 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Allegheny County rose about 46.5%, while median household income rose about 64.4% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Allegheny County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 58.8% | 62.8% | 58.2% |
| Rental Rate | 31.6% | 27.8% | 31.3% |
| Vacancy Rate | 9.6% | 9.4% | 10.6% |
| Median Tenure (years) | 17.0 | 17.0 | 15.0 |
| Median Year Moved In | 2009 | 2009 | 2011 |
Allegheny County has a homeownership rate of 58.8%, lower than the Pennsylvania average of 62.8%. Its housing vacancy rate is 9.6%, compared with 9.4% in Pennsylvania.
Housing Stock
| Metric | Allegheny County | Pennsylvania Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.20 people | 2.40 people | 2.54 people |
| Median Structure Built Year | 1960 | 1965 | 1978 |
| Median Number of Rooms | 5.9 | 6.0 | 5.5 |
The typical housing unit in Allegheny County was built around 1960. On average, 2.2 people live in a home with about 5.9 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Allegheny County, Pennsylvania.
What is the median home price in Allegheny County, Pennsylvania?
The median home price in Allegheny County, Pennsylvania is $120,423, lower than the Pennsylvania average of $154,283.
What is the average home price in Allegheny County, Pennsylvania?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Allegheny County, Pennsylvania?
The median gross rent in Allegheny County, Pennsylvania is $1,111 per month, lower than the Pennsylvania average of $1,161.
What was the median gross rent in Allegheny County in 2020?
In 2020, the median gross rent in Allegheny County, Pennsylvania was $913 per month.
What is the price-to-rent ratio in Allegheny County, Pennsylvania?
The price-to-rent ratio in Allegheny County, Pennsylvania is about 9.0, meaning it would take roughly 9.0 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Allegheny County.
Are home prices or rent rising faster in Allegheny County, Pennsylvania?
Both home prices and rent are rising in Allegheny County, up about 4.3% and 4.8% a year respectively. Rent is changing faster.
What is the homeownership rate in Allegheny County, Pennsylvania?
58.8% of households in Allegheny County, Pennsylvania own their home, lower than the Pennsylvania average of 62.8%.
What is the vacancy rate in Allegheny County, Pennsylvania?
The housing vacancy rate in Allegheny County, Pennsylvania is 9.6%, higher than the Pennsylvania average of 9.4%.