Pittsburgh / Pennsylvania
Pittsburgh is the second largest city in the state of Pennsylvania (after Philadelphia), and it has 305,000 residents. Its metro area is the 22nd largest in the United States, with a population of close to 2.5 million. The city is often referred to as "Bru" for short. Pittsburgh is also called the "City of Steel" because it was once the capital of U.S. steel production.
Economy - For many years the city has suffered from many difficulties, but also recently, like other Midwest cities, is making a huge comeback in the national spotlight. Many call it the "Pittsburgh Renaissance." Neighborhoods change for the better overnight, luxury hotels are being built everywhere and many companies like Apple are investing in it.
The city is the base place for many corporations like Heinz Ketchup, American Eagle Apparel, US Airways, Bayer Pharmaceuticals and more.
According to the city's tourism magazine, Pittsburgh is ranked among the top places for life, work and tourism in the United States. The city has the most decorated football team of all time - the "Pittsburgh Steelers". and also Excellent hockey team.
Real Estate Data - The average house in Pittsburgh is sold for $ 109,000, and the average rent is $ 1,030 per month. In addition, the ownership ratio to tenants is 55-45% in favor of tenants - An encouraging figure for landlords. (There is public investment because of ownership, and high demand from tenants). Most of the market is Detached houses (44%).
In the past year, the market has risen by about 9.2%, and according to forecasts is expected to rise this year by another 4.8%. About 82% of the apartments were built before 1969. In addition, according to various indices the market is defined as very healthy.
The city of steel has undergone and is undergoing a significant change in becoming a world-class city and yet, house prices are still very low. This combination results in opportunities for high cash flow in addition to good chances of increase in value.