It’s cheaper to buy than rent in Pittsburgh, study says

PITTSBURGH — Buying a home is more affordable than renting in 53 percent of U.S. housing markets, including in the Pittsburgh area, according to a new report.

In Allegheny County, it’s less expensive to own a three-bedroom property than it is to rent a median-priced, three-bedroom home, according to real estate analytics company ATTOM Data.

This was true for 455, or 53 percent, of the 855 U.S. counties analyzed for the report.

The analysis, however, showed a split between different-sized markets, with ownership more affordable mainly in lightly populated counties and renting more affordable in more populous suburban or urban areas. Pittsburgh was unlike its populous counterparts in this case. Only seven counties with populations of at least 1 million in ATTOM’s analysis were more affordable to buy a home than rent in.

Read more in the Pittsburgh Business Times.

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