Pittsburgh Apartment Market Cools a Bit, but it’s Still Hot [Video]

The Pittsburgh apartment market appears to be past its peak for this cycle, but it’s still posting tight occupancy rates and solid rent growth.

Pittsburgh Performance Highlights Q2 2013

Economy: Energy, education, and health care jobs have made the local economy one of the more robust and stable in the nation.

Occupancy: Annual occupancy growth has eased in Pittsburgh to 96.8%. While down from 98.6% from a year ago, 96.8% places is good enough to place 10th in the nation for occupancy for large markets.

Rent Growth: While rent growth has cooled from peak levels, the metro saw an annual rent change of 3.0%, right in line with the national average.

Outlook: MPF Research believes the peak growth period is behind Pittsburgh, but the metro should continue to perform well with occupancy holding steady and rent growth to continue year over year at 3.0%.


Image: By Theeditor93, via Wikimedia Commons


Jay Parsons

Director of Analytics & Forecasts, MPF Research, MPF Research

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Jay Parsons is the Director of Analytics & Forecasts for MPF Research, the market intelligence arm of RealPage, Inc. Jay’s role includes overseeing MPF’s five-year forecast models, providing market advisory services to clients and managing the team that tracks and analyzes conditions in 300+ markets across the country. Jay also helps lead Revenue Forecaster, RealPage’s on-demand forecasting platform specific to client portfolios down to individual assets and unit types – seamlessly merging submarket expectations with daily rent roll dynamics. In addition, he hosts “Apartment Market Dynamics,” MPF’s video news program highlighting apartment market trends across the country. He has written commentary pieces for several publications, including American Banker, Multifamily Executive, Mortgage Bankers Association NewsLink, Units and Multihousing Pro. He has spoken on various topics, including multifamily economics and Millennial generation trends, at industry conferences and events. Jay has been with MPF Research since March 2009. He is a native of Charlotte, N.C., and a graduate of the University of Maryland, currently living in the Dallas area.

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