Pittsburgh's population has shown a modest increase, reaching approximately 2.43 million in the fourth quarter of 2026, reflecting a year-over-year growth of 0.3%. This growth follows a slight decline in the previous years, indicating a potential stabilization in the region's demographic trends. The net migration figure of 26,649 suggests an influx of residents, which, combined with a median household income of $77,214 and an unemployment rate of 4%, underscores a favorable economic backdrop for housing demand. The renter share stands at 29%, indicating a significant portion of the population is reliant on rental housing.
In the multifamily sector, year-over-year rent growth has been recorded at 5.1%, with the median gross rent at $1,083. This growth is notable against the HUD Fair Market Rent benchmarks, which typically run below market rates, indicating a tightening rental market. The asking rents for a two-bedroom unit are currently at $1,280, which is slightly below the national median of $1,771. The upward momentum in rents, coupled with a relatively stable affordability level, suggests that demand for multifamily housing remains robust.
Over the trailing 24 months, the capital markets in Pittsburgh have seen 364 transactions, with a total volume of approximately $144.4 million and a median price per unit of $114,450. The multifamily cap rate stands at 7.87%, which is about 83 basis points higher than the national median of 7.04%. This positioning reflects a market that is slightly less competitive than the broader national landscape, particularly in terms of pricing. As the market continues to evolve, maintaining a close watch on demographic trends and economic indicators will be essential for underwriting considerations.
Figures assembled automatically from public property records, third-party listing feeds, licensed market data, and federal sources (HUD, Census, BLS).
<p>The Pittsburgh and Huntsville openings expand Hilton’s apartment-style collection brand that launched in partnership with Placemakr earlier this year.</p>
Billionaire Ken Griffin is making a $3 billion donation to Carnegie Mellon University, including $2 billion to build a major new campus in Miami’s Wynwood neighborhood. It’s the largest single donation to higher education by one person, according to an announcement from Carnegie Mellon. Griffin will also give $1 billion…
<figure><div><img src="https://imgproxy.divecdn.com/taUtwRXIPpB_n9xSQorvOAhMR0EtGYKtMQC0lLkHxXc/g:ce/rs:fill:1600:900:1/Z3M6Ly9kaXZlc2l0ZS1zdG9yYWdlL2RpdmVpbWFnZS9HZXR0eUltYWdlcy0yMjM0NjgwNjg3LmpwZw==.webp"/></div></figure><p>The first set of changes "will help applicants spend less time waiting and more time getting projects done," Mayor Corey O'Connor said.</p>
PITTSBURGH — Buchanan Ingersoll & Rooney has extended its 115,335-square-foot office lease in downtown Pittsburgh. The law firm will remain the anchor tenant at the Union Trust Building, a historic property located at 501 Grant St. Gerry McLaughlin of Newmark represented the tenant in the lease negotiations. Jason Stewart and…
PITTSBURGH — JLL has arranged the recapitalization of Tower Two-Sixty, a mixed-use property in downtown Pittsburgh. Completed in 2016, Tower Two-Sixty consists of 130,000 square feet of office space, 14,000 square feet of retail and restaurant space, a 197-key Hilton-branded hotel and a 321-space structured parking garage. Valued at $69…
MOUNT LEBANON, PA. — Washington D.C.-based Roadside Development has acquired the Galleria at Mount Lebanon, a 168,000-square-foot shopping center located just outside of Pittsburgh. Originally constructed as a Kaufmann’s department store and converted to an indoor mall in 1988, the two-story center is home to tenants such as Anthropologie, Pottery…
| Sold | Address | Type | Units | Price | $/Unit |
|---|---|---|---|---|---|
| 2025-05-19 | 601 Ravenswood Ave, Pittsburgh, PA 15202 | Multifamily | — | $133K | — |
| 2025-05-16 | 3310 Provost Rd, Pittsburgh, PA 15227 | Multifamily | 1 | $160K | $160,000 |
| 2025-05-15 | 1130-1134 9th St, McKees Rocks, PA 15136 | Multifamily | — | $200K | — |
| 2025-05-15 | 1504 Main St, Burgettstown, PA 15021 | Multifamily | 1 | $115K | $115,000 |
| 2025-05-07 | 268 Brighton St, East Pittsburgh, PA 15112 | Multifamily | 2 | $227K | $113,250 |
| 2025-05-06 | 212-214 Mount Lebanon Blvd, Pittsburgh, PA 15234 | Multifamily | 1 | $395K | $395,000 |
| 2025-05-05 | 100-102 Lee St, Carnegie, PA 15106 | Multifamily | 1 | $222K | $222,000 |
| 2025-05-05 | 523 Sidney St, Greensburg, PA 15601 | Multifamily | — | $115K | — |
| 2025-04-30 | 3521-3523 W Run Rd, Munhall, PA 15120 | Multifamily | 12 | $900K | $75,000 |
| 2025-04-30 | 1009 Brackenridge Ave, Brackenridge, PA 15014 | Multifamily | 3 | $163K | $54,333 |
| 2025-04-30 | 2104-2106 Lowrie St, Pittsburgh, PA 15212 | Multifamily | 1 | $295K | $295,000 |
| 2025-04-25 | 1917 Webster Ave, Pittsburgh, PA 15219 | Multifamily | 5 | $157K | $31,400 |
| 2025-04-25 | 709-711 9th Ave, Elizabeth, PA 15037 | Multifamily | 2 | $123K | $61,250 |
| 2025-04-23 | 29 Ridge Ave, Washington, PA 15301 | Multifamily | — | $111K | — |
| 2025-04-22 | 216 S Wade Ave, Washington, PA 15301 | Multifamily | 1 | $125K | $125,000 |
| 2025-04-21 | 2936 Clermont Ave, Pittsburgh, PA 15227 | Multifamily | 2 | $170K | $85,000 |
| 2025-04-21 | 6720 Thomas Blvd, Pittsburgh, PA 15208 | Multifamily | 2 | $575K | $287,500 |
| 2025-04-14 | 301 Allegheny Ave, Aliquippa, PA 15001 | Multifamily | — | $150K | — |
| 2025-04-10 | 309 6th St, Carnegie, PA 15106 | Multifamily | 2 | $204K | $101,975 |
| 2025-04-10 | 108 Wykes St, Aliquippa, PA 15001 | Multifamily | 1 | $130K | $130,000 |
| 2025-04-10 | 7314 Church St, Pittsburgh, PA 15218 | Multifamily | 2 | $147K | $73,720 |
| 2025-04-09 | 225-227 N Homewood Ave, Point Breeze, PA 15208 | Multifamily | 2 | $345K | $172,500 |
| 2025-04-07 | 303 Giffin Ave, Pittsburgh, PA 15210 | Multifamily | 2 | $110K | $55,000 |
| 2025-04-07 | 201 Grant St #111, Sewickley, PA 15143 | Multifamily | — | $150K | — |
| 2025-04-04 | 3080 Smallman St, Pittsburgh, PA 15201 | Multifamily | 1 | $453K | $452,900 |
| 2025-04-04 | 4625 Fifth Ave #816, Oakland, PA 15213 | Multifamily | 1 | $120K | $120,000 |
| 2025-04-03 | 104 Mercer Ave, New Brighton, PA 15066 | Multifamily | 1 | $105K | $105,000 |
| 2025-04-03 | 4601 Fifth Ave, Pittsburgh, PA 15213 | Multifamily | 1 | $178K | $177,550 |
| 2025-04-03 | 801 23rd St, Ambridge, PA 15003 | Multifamily | — | $510K | — |
| 2025-04-02 | 114 McLaughlin Rd, Coraopolis, PA 15108 | Multifamily | 14 | $365K | $26,071 |
| 2025-04-02 | 5408 Kincaid St, Pittsburgh, PA 15206 | Multifamily | — | $200K | — |
| 2025-04-02 | 321 Maryland Ave, Greensburg, PA 15601 | Multifamily | — | $150K | — |
| 2025-04-02 | 508 Highland Ave, Aliquippa, PA 15001 | Multifamily | — | $250K | — |
| 2025-04-02 | 236 E Fulton St, Butler, PA 16001 | Multifamily | 1 | $151K | $151,000 |
| 2025-04-02 | 16 Gaskell St, Pittsburgh, PA 15211 | Multifamily | 2 | $156K | $78,125 |
| 2025-04-01 | 368 44th St, Pittsburgh, PA 15201 | Multifamily | 2 | $499K | $249,500 |
| 2025-04-01 | 2530 Josephine St, Pittsburgh, PA 15203 | Multifamily | — | $270K | — |
| 2025-03-31 | 5460 Broad St, East Liberty, PA 15206 | Multifamily | 2 | $280K | $140,000 |
| 2025-03-28 | 216 Melwood Ave, Pittsburgh, PA 15213 | Multifamily | — | $224K | — |
| 2025-03-28 | 400 N Neville St, Pittsburgh, PA 15213 | Multifamily | — | $224K | — |
| 2025-03-28 | 1039 Arlington Ave, Pittsburgh, PA 15203 | Multifamily | 2 | $230K | $115,000 |
| 2025-03-28 | 2919 Voelkel Ave, Pittsburgh, PA 15216 | Multifamily | 2 | $195K | $97,500 |
| 2025-03-28 | 5558 Black St, Pittsburgh, PA 15206 | Multifamily | 4 | $430K | $107,500 |
| 2025-03-27 | 23 Oakland Sq, Pittsburgh, PA 15213 | Multifamily | 3 | $100K | $33,333 |
| 2025-03-27 | 115 Cleveland Ave, Uniontown, PA 15401 | Multifamily | 1 | $125K | $125,000 |
| 2025-03-26 | 397 Main St, Uniontown, PA 15401 | Multifamily | 1 | $120K | $120,000 |
| 2025-03-25 | 1311 Penn Ave, New Brighton, PA 15066 | Multifamily | — | $115K | — |
| 2025-03-25 | 111 N Dallas Ave, Pittsburgh, PA 15208 | Multifamily | 8 | $275K | $34,375 |
| 2025-03-24 | 804 Hillsboro St, Pittsburgh, PA 15204 | Multifamily | 2 | $125K | $62,500 |
| 2025-03-24 | 1332 Goettman St, Pittsburgh, PA 15212 | Multifamily | 3 | $200K | $66,667 |
Recorded multifamily sales from public property records and third-party listing feeds over the trailing 24 months — a partial sample, not an exhaustive market index. Sources & methodology →
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