(AP Photo/Matt Rourke, File)
Renters in Pittsburgh Metro saw apartment listing prices increase from April’s average of $1,190, an analysis of new data from Apartment List shows.
The average apartment listed for rent at $1,210 in May. Average listing prices in Pittsburgh Metro are trending 1.6807% upwards from April’s $1,190 price, up 3% from this time last year.
The data is inclusive of all bedroom sizes, from studios to three-bedroom units, so while it is a good indicator of how rents are moving in the area, it does not include single family homes for rent, said Chris Salviati, senior housing economist for Apartment List.
One-bedroom apartments listed to rent at an average of $1,007, 1.6145% higher than April, when they were $991. Since last year, one-bedroom rental prices rose 2.9% from $979.
Two-bedroom apartments listed for rent were 1.7032% higher than April at an average of $1,254, compared to $1,233. Since last year, two-bedroom rental prices rose 3% from $1,218.
Statewide, Pennsylvania rental listing prices are on the rise from April’s average of $1,282, at $1,295. In Pennsylvania, one-bedroom rentals were listed for an average of $1,090, 1.1132% higher than April’s average of $1,078. Two-bedroom rental listing prices are trending 1.063% higher than April’s average of $1,317 at $1331.
In Pittsburgh Metro, the average apartment listed for rent is 7% below the state average. One-bedroom rentals were 8% below the state average, while two-bedrooms listed 6% below.
Nationwide, apartment rental listing prices slightly increased from last month’s $1,392 to $1,398. One-bedroom rentals across the nation listed for an average of $1,228, just higher than last month’s average of $1,223, while two-bedroom rental listing prices slightly rose from last month’s average of $1,378 to $1,384.
In Pittsburgh Metro, the average apartment listed for rent is 13% below the national average. One-bedroom apartment rentals listed 18% below the national average, with two-bedroom rentals listed 9% below.
The average apartment rental prices used in this report are gathered from Apartment List, which estimates the median rent using median rent statistics from the Census Bureau’s American Community Survey and a growth rate calculated from their listing data. Read more about their rent estimate methodology here.
Reporting by USA TODAY Network / Beaver County Times
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