According to the latest Demographia International Housing Affordability report, Pittsburgh shines as one of the most affordable cities in the country with a median house price of $274,900.
The study from Chapman University and the Frontier Centre for Public Policy looked at 94 cities in countries like the United States, the United Kingdom, Canada and Australia. Each city’s housing market was measured by comparing its median house price against the median household income in the market. Each city was then ranked on a scale from “affordable” to “impossibly unaffordable.”
Pittsburgh came in first, with Rochester, N.Y.; St. Louis; Cleveland; and Edmonton, Alberta, rounding out the top five. Pittsburgh was deemed 75% more affordable than the most unaffordable market in America, San Jose. The Philadelphia area was ranked 20th, while New York City’s market came in 77th. The city to come in as the most unaffordable was Hong Kong, China.
