In this installment of Price Check National Edition, we turn our eyes west to Pittsburgh, Pennsylvania. This post-industrial city—home to Carnegie Mellon University, the Andy Warhol Museum, and a growing restaurant scene—was just named as being part of the most affordable major metro area in the country by the mortgage and loan information publisher HSH.com.
Pittsburgh leads in affordability, according to HSH, with a median home price of $146,000. With taxes, insurance, and a 30-year mortgage, that would require just $35,205 in annual income to pay off, by the site's calculation. In New York City, the median home price is $680,000, and even if you incorporate towns two hours out or more, the median for the area is $419,000, which requires about $100,000 in annual income to cover.
So who wants to move to Pittsburgh? Even if you don't, you might be interested to see what you could get for the price of a toilet stall in Midtown. Here are some examples.
Located in one of the city's most desirable neighborhoods, this five-bed, four-bath Victorian house (pictured also at top) has been meticulously maintained and includes many grand features such as stained glass windows and gorgeous hardwood floors. There are also many nice vintage charms, including lime green walls in the bathroom and built-in cabinets and drawers. There's even a claw-foot bathtub. Listed for $495,000
This three bed, two-and-a-half-bath house is a mix of classic and modern. There are exposed wood beams and hardwood floors throughout the house as well as flashy granite counters and a nice open flow from the kitchen into the living area. The house comes with a 48-bottle wine cooler as well as all new electric, plumbing, and HVAC systems. The owner is asking $329,900.
This loft apartment in the heart of the city is a one bedroom, one bath, but the current occupants use it as a two bedroom thanks to an elevated loft area. There's a gas fireplace and stainless steel appliances. There's also storage in the basement and bike storage on the first floor. Listed for $340,000
A fixer-upper house in Brooklyn can cost more than a million dollars. Let that sink in when you consider that this house, built in 1920, near the southern edge of the city, and near shopping and transportation according to the listing, is priced below $50,000. Yes, it needs work but the houses has four bedrooms, a bathroom, front and back porches, and a basement. Asking price: $44,900
This three-bedroom, three-and-a-half bath townhouse has curb appeal thanks to a handsome stoop, double doors, and mature plantings. Inside there are pillars and archways, stainless steel appliances, central air conditioning, and a nicely sized backyard. It's in East Liberty, a once-bustling neighborhood that became a place of concentrated poverty in the latter quarter of the 20th century, amid white flight and disinvestment. Now, Google, Whole Foods, and co-working spaces have set up shop there, prompting familiar concerns about gentrification. The owners are looking for $349,900.
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