There are dozens of excellent reasons to invest in Real Estate in Pittsburg. The city is diverse and growing, and you can find some thriving submarkets in and around Pittsburgh that are excellent rental markets. Whether you’re local to the area or from out of state and looking for a potentially profitable investment property, we’re talking about what you should buy and where you should buy it.
Investing in Pittsburgh: Market Strength
Housing prices are on the rise in Pittsburgh, but the buy-in that investors face is still much lower than in other east coast cities. Neighborhoods have undergone a lot of revitalization in the last few years, and the economy is growing. More people are moving into the area and unemployment is lower than the state average. There’s a growing tech industry in the city thanks to companies like Google, Apple, Uber, and Facebook setting up shop. The medical centers and universities are putting Pittsburgh on the map in new ways, and smart investors are taking note.
Pittsburgh Neighborhoods to Consider
When you’re looking for a Pittsburgh investment property, you’ll need to consider your investment goals and the importance of location. When we’re talking to investors, whether they’re looking for their first rental home or an additional property to add to a growing portfolio, we always recommend neighborhoods with outstanding tenant pools and the potential for long term gains. Some of those are:
|South Side Slopes
Pittsburgh Neighborhoods to Avoid
As your property management partners, we care about the investment decisions that you make and are happy to be involved from the beginning. If you’re considering purchasing a home in Pittsburgh, reach out to us to get out insights on the neighborhood. We’ll give you our honest feedback.
Types of Homes to Buy
When you’re looking for a great investment property in Pittsburgh, remember that your goal is to get it onto the market as soon as possible. An unoccupied rental home is an expensive rental home. So, look for properties that are in good shape. Cosmetic upgrades will just take a few days, and it’s fine to buy a home that needs new paint or better flooring. Don’t bother with properties that will require heavy renovations and rehab work. You’ll lose too much money on vacancy costs, and you may not recoup what you spend bringing it up to habitability standards.
We’d be happy to talk more about the Pittsburgh rental market. For more information, please contact us at Arbors Management.