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 2012 | 112.1 |
| September 2012 | 111.6 |
| June 2012 | 110.8 |
| March 2012 | 109.8 |
| December 2011 | 110.5 |
| September 2011 | 110.0 |
| June 2011 | 109.0 |
| March 2011 | 108.6 |
| December 2010 | 114.5 |
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 2012 | 105.2 |
| September 2012 | 104.7 |
| June 2012 | 103.9 |
| March 2012 | 103.0 |
| December 2011 | 103.7 |
| September 2011 | 103.2 |
| June 2011 | 102.3 |
| March 2011 | 101.9 |
| December 2010 | 106.5 |
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 |
|---|---|
| January 2013 | $275,056 |
| December 2012 | $277,130 |
| November 2012 | $277,130 |
| October 2012 | $276,090 |
| September 2012 | $271,988 |
| August 2012 | $268,637 |
| July 2012 | $270,305 |
| June 2012 | $266,000 |
| May 2012 | $262,116 |
| April 2012 | $258,628 |
| March 2012 | $257,377 |
| February 2012 | $259,257 |
| January 2012 | $258,314 |
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. ↩
Department of Numbers
The Department of Numbers contextualizes public data so that individuals can form independent opinions on everyday social and economic matters.
