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Pittsburgh ranks among top 3 cities nationwide where it’s more affordable to buy a home than rent, report says

By Nate Doughty
Andy Warhol Bridge This is the skyline of downtown Pittsburgh with the Andy Warhol Bridge in the foreground on Wednesday, June 26, 2019. (AP Photo/Gene J. Puskar) (Gene J. Puskar/AP)
By Nate Doughty

PITTSBURGH — The Pittsburgh metro has ranked among the top three in the nation as a region where it is more affordable to purchase a home than it is to rent one, a new report from Realtor.com has found.

To conduct its report, Realtor.com first found the median listing price for a home in a given metro. It then found what it would cost per month to finance that home with a 30-year fixed-rate mortgage.

The Steel City was bested only by the metros of No. 1 Cleveland-Elyria, Ohio and No. 2 Chicago-Naperville-Elgin, Illinois-Indiana-Wisconsin to round out the top three cities where it is more affordable to purchase a home than it is to rent one.

Here’s what else our partners at the Pittsburgh Business Times found.

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