Study: Rent Is Increasing Among Pittsburgh Neighborhoods
PITTSBURGH (KDKA)-- If you're looking to make the next move, Rent.com conducted a study that shows where monthly rental prices are seeing the most increases in the Pittsburgh area.
The study was done by comparing the average price of vacant one-bedroom apartments from May 2018 to May 2019 to find the highest percentage increase. It looked at rent in specific neighborhoods versus the overall average in Pittsburgh.
In the city of Pittsburgh, the average rent for a one-bedroom apartment is $1,281.
More desirable areas are expected to have a higher increase in rent, but there are some unexpected locations on the list too, says Rent.com.
The top five places were ranked in ascending order.
Banksville, located on the western-edge of Pittsburgh, is an ideal place for commuters and a great view of the Golden Triangle says Rent.com.
The rent in this location has increased by 2.6 percent in the last year.
For a one-bedroom apartment, you can pay around $890 a month.
Fourth on the list is Squirrel Hill South, a neighborhood in the southeast corner of the city.
Near both Schenley Park and Frick Park, Squirrel Hill rent remains below the average of Pittsburgh in general, but it has increased by 4.1 percent.
For a one-bedroom apartment, you can pay around $1,061 a month.
Allegheny Center is third on the list. Surrounded by attractions like the National Aviary and the Children's Museum of Pittsburgh, rent has increased by 6.88 percent.
For a one-bedroom apartment, you can pay around $1,251 a month.
Heinz Field, PNC Park, The Three Rivers Heritage Trail, and much more, are a big factor in why the average rent in North Shore (ranked number two) has surpassed the overall average rent in Pittsburgh.
In the past year, there was a 7.75 percent increase that mad rent for a one-bedroom apartment an estimated $1,697 a month.
The Rivers Casino, Randyland and the Mattress Factory all reside by the North Side.
Topping the list with a 9.79 percent increase in a year, a one-bedroom apartment on the North Side of Pittsburgh may cost you $1,406 a month.
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