Number 1 Most Affordable Market in the US
by Chris Petry
There are many advantages to working for or working with Berkshire Hathaway HomeServices The Preferred and Stouffer Realty to achieve your real estate goals. For one, we’re the #1 brokerage in all of Southwestern, Pennsylvania and our presence in Eastern, Ohio grows and strengthens by the day. There’s also this: you’ve heard the phrase, “location, location, location” right? Well, it’s true. Right now, our location is a major plus. Why? As real estate brokerages nationwide have experienced challenges related to mortgage rates, population declines, and general economic uncertainty, the Pittsburgh and Cleveland markets have defied the odds.
Sure, we’ve also had our challenges. After all, Covid, international conflicts, and mortgage interest rates are concerns for everyone. That said, home prices, general affordability, and interest rates are more favorable in the Pittsburgh and Cleveland markets. According to recent data from the ICE Home Price Index, Pittsburgh ranks as the third Most Affordable Market in the United States. Cleveland, on the other hand, secured the top spot as the #1 Most Affordable Market in America. Not bad, huh?
According to a post from Cleveland.com, Cleveland area homes have a median price of about $133 per sq ft. That’s $81 below the national average. Pittsburgh lands around $147 per sq ft of housing. In the long run, the savings can be tremendous.
Okay, so why should people live in Cleveland or Pittsburgh? You know, other than the affordable housing options. Well, both cities are well-regarded for their professional sports teams (The Browns and The Steelers), local arts scenes, foodie-approved eateries, and brewing.
Don’t forget, Greater Cleveland is home to the Rock and Roll Hall of Fame, The Football Hall of Fame, The Cleveland Museum of Art, and the legendary West Side Market. Pittsburgh has The Carnegie Museum of Natural History and Science Center, The Andy Warhol Museum, The Heinz History Center, and for my money, the greatest approach of any city. I see nothing in this tunnel, I see nothing in this tunnel… bam! There’s a city!
Cleveland is a world leader in healthcare and research. Living in Cleveland means you have access to the best available medicine anywhere on the globe. Pittsburgh is a thriving science and technology center, its universities sponsoring some of the most exciting research and development in the Western Hemisphere.
Cleveland rests on the shores of Lake Erie (the 11th largest lake in the world) and while that means you might have to shovel a little more snow come winter, you have all the benefits of a beach without the… well, you know, sharks and stuff. Pittsburgh is just over a hundred miles from Lake Erie, so day trip? Additionally, both cities feature extensive hiking and biking trail networks and outdoor sporting activities.
So, whether you’re a resident of Western, Pennsylvania or Eastern, Ohio, you’re in a prime place to be, where real estate is concerned. You’ll pay less and be able to better enjoy all the world class amenities your city has to offer. If you’re not already a resident, we hope the above information is all the convincing you needed to make your move. For those considering an Ohio move, reach out to one of our dedicated sales professionals at Berkshire Hathaway HomeServices Stouffer Realty. If Pennsylvania is more your speed, be sure to speak to an agent from Berkshire Hathaway HomeServices The Preferred Realty, to get started.
