Department of Numbers

Pittsburgh, Pennsylvania Home Affordability

The data below measures home affordability for the Pittsburgh, Pennsylvania metropolitan area using price-to-income and price-to-rent metrics.1 The maximum affordable loan amount for the median household income is also calculated. You can also compare Pittsburgh home affordability to other cities.

Pittsburgh, Pennsylvania Home Price-to-Income Ratios

The second chart shows a history of the ratio as an index calculated from the Federal Housing Finance Agency's Pittsburgh HPI series. Median household income data for Pittsburgh is from the Census American Community Survey.

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Pittsburgh, Pennsylvania Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2013 110.7
September 2013 111.1
June 2013 110.1
March 2013 108.3
December 2012 108.0
September 2012 107.4
June 2012 106.5
March 2012 105.6
December 2011 109.8

Pittsburgh, Pennsylvania Home Price-to-Rent Ratios

The chart below shows an index of the rent ratio calculated from the metro FHFA HPI series and the Pittsburgh median contract rent data from the Census ACS.

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Pittsburgh, Pennsylvania Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2013 103.0
September 2013 103.3
June 2013 102.4
March 2013 100.7
December 2012 100.4
September 2012 99.9
June 2012 99.1
March 2012 98.3
December 2011 103.1

Pittsburgh, Pennsylvania Inferred Affordable Mortgage

The inferred affordable mortgage value is determined by taking the median household income for Pittsburgh, Pennsylvania and calculating the mortgage 30% of that income could afford. Traditionally, 30% of income is the maximum amount a homeowner could use towards a home loan. Inferred affordable loan values are calculated from ACS median household income and average monthly mortgage rates.

Inferred Affordable Mortgage

Pittsburgh, Pennsylvania Inferred Affordable Mortgage History

Date Inferred Mortgage
February 2014 $255,061
January 2014 $251,171
December 2013 $250,286
November 2013 $256,276
October 2013 $258,423
September 2013 $249,406
August 2013 $250,286
July 2013 $252,955
June 2013 $262,166
May 2013 $279,698
April 2013 $282,846
March 2013 $278,660
February 2013 $280,045

1. Specifically, home prices are from the non seasonally adjusted FHFA all-transactions quarterly series. Dollar ratios are calculated using NAR metro prices when available. Rent and income data are from the Census ACS and are carried forward into the following year prior to release of the new data.