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Updated over 4 years ago,
Help me understand PGH
Hi Everyone,
A little about me & my fiance to start this question:
We are moving to Pittsburgh in the next several months, and he'll be working at Allegheny Hospital. He's primarily interested in a non-stressful commute and we are looking at owner-occupying something that cash flows at least a bit.
We've lived all over in the last several years: Boston, Chicago, Iowa, Ohio... and soon Pittsburgh. We've always been renters and rented B+ or A apartments.
No matter where we lived we have always ended up paying ~800-1200/mo for an apartment, whether 1 or 2 bedroom. And we never lived somewhere considered "expensive" for the city we were in at the time. But even in 1 large and 1 very small town in Ohio, it was around the same.
Now the question: What is UP with Pittsburgh? Except for Shadyside, the rents seem very low compared to other cities I have been even for nice rentals, but there don't seem to be a ton of those. Like, crazy low rents from my frame of reference.
However, the condos, multi-families and even single family houses that I have stalked on the MLS seem very high priced for what they are offering compared with other cities we have lived in. And especially compared to what rental prices seem to be in the area. To me most of what I have seen on the MLS seems to be very old, not updated and oddly laid out, like row houses that are very tall but insanely skinny with very steep staircases, condos with wallpaper from the 80s and window A/C units, etc. Or WAY too expensive and a crazy level 10 modernized penthouse or townhome. Where's the middle ground?
What's up with the old, non-updated vibe I'm getting from looking into the market? Is it just where I am looking, and I should direct my attention elsewhere? Or maybe what I'm looking for doesn't really exist in the PGH market right now? I guess I'm just looking for a cool, walkable neighborhood that is up and coming but offers some nicer home options with larger size rooms that would just need cosmetic updating, not a ground-up rehab to modernize it. Bonus points if it's an easy commute to Allegheny Hospital.
Educate me about PGH, BiggerPockets!