Pittsburgh, PA, Is Quietly Becoming a Haven for Frugal Homebuyers as a 'Refuge' Market

"Pittsburgh is earning increased attention from prospective buyers hoping to save a buck. The Realtor.com® November 2025 Housing Trends Report lists the Pennsylvanie hub as one of the metros where affordability continues to draw savvy buyers navigating elevated housing costs. With national prices softening and time on market lengthening, shoppers are searching for "refuge markets"-cities with long-standing affordability and steady demand for resale."

"Long-term performance puts Pittsburgh firmly in the refuge market category. Since 2022, PPSF has grown 7.8%, reflecting steady interest from buyers who continue to value the metro's relatively low cost of entry. Its price trends align closely with other affordable metros highlighted in the report, including Cleveland, Milwaukee, Louisville, and St. Louis-markets experiencing some of the strongest appreciation tied to shifting affordability dynamics."

"Among nearby peers, Cleveland is the most relevant comparison. While Cleveland's PPSF rose 4.5% year-over-year and 20.3% since 2022-significantly higher on the long-term measure-Pittsburgh's gains remain notable for a metro with long-term affordability and stable demand. Buyers weighing both markets still find Pittsburgh's price point competitive and appealing. In terms of what's available, active listings increased 5.4% year-over-year, and new listings rose 6.4%."

Pittsburgh's median list price reached $245,000 in November, a 4.3% increase year-over-year. Price per square foot rose 3.7% over the same period, outperforming the U.S. average where PPSF declined 1.0%. Since 2022, PPSF in Pittsburgh has grown 7.8%, signaling steady buyer interest driven by a relatively low cost of entry. Comparable affordable metros include Cleveland, Milwaukee, Louisville, and St. Louis. Cleveland's PPSF rose 4.5% year-over-year and 20.3% since 2022. Active listings increased 5.4% year-over-year and new listings rose 6.4%, while homes spent about the same time on market as the prior period.

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