Rent vs Buy in Pittsburgh, PA

Should you rent or buy a home in Pittsburgh? Use our calculator with local market data to make an informed decision.

Median Home Price

$225,000

Median Rent

$1,350/mo

Property Tax Rate

2.07%

Price-to-Rent Ratio

13.9x

Rent vs Buy in Pittsburgh, Pennsylvania

Should you rent or buy a home? Calculate your best option.

Your Scenario

Home Price

Monthly Rent

Mortgage Rate

Down Payment

Time Horizon7 years

1 years30 years

Explore Scenarios

Adjust these sliders to see how different assumptions affect your decision.

Mortgage Rate7.00%

5%7%9%

Home Appreciation3.0%

0%3%5%

Rent Growth3.0%

0%3%6%

Time Horizon7 years

35710

💡 Tips

• Higher mortgage rates favor renting
• Higher home appreciation favors buying
• Higher rent growth favors buying
• Longer time horizons typically favor buying

⚖️It's a Toss-Up

You could save $1,456 by buying

Over 7 years

Monthly Cost (Rent)

$1,478

Average

Monthly Cost (Own)

$1,988

Average (excl. equity)

Total Rent Paid

$124,132

Total Owner Costs

$218,728

Final Equity

$96,053

After selling costs

Break-Even Year

Year 7

Within horizon

Upfront Costs to Buy

Down Payment (20%)$45,000

Closing Costs (3%)$6,750

Total Needed$51,750

Cost Comparison Over Time

Total Rent Paid

Total Owner Costs

Net Cost (After Equity)

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Year Horizon

About Buying vs Renting in Pittsburgh

The decision to rent or buy in Pittsburgh, Pennsylvania depends on many factors including your financial situation, how long you plan to stay, and current market conditions.

With a median home price of $225,000 and median rent of $1,350 per month, Pittsburgh has a price-to-rent ratio of 13.9. This relatively low ratio suggests buying may be advantageous.

Use our calculator above to input your specific scenario and see a personalized analysis. Adjust the time horizon, mortgage rate, and other factors to explore different outcomes.