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Old 01-11-2018, 04:52 AM
gg gg started this thread
 
Location: Pittsburgh
26,137 posts, read 25,799,462 times
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Old 01-11-2018, 07:05 AM
 
Location: Pittsburgh
1,491 posts, read 1,448,206 times
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The data used is of listings on their own site. Being that the vast majority of listed properties on the site are large developments and high end complexes, its no surprise. Our luxury apartment market is getting to the point of saturation. I would be interested to know if they include studios in the data set with 1 bedrooms as well. that would skew numbers a fair amount.
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Old 01-11-2018, 07:27 AM
 
Location: Pittsburgh, PA (Morningside)
14,361 posts, read 16,888,248 times
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Quote:
Originally Posted by jea6321 View Post
The data used is of listings on their own site. Being that the vast majority of listed properties on the site are large developments and high end complexes, its no surprise. Our luxury apartment market is getting to the point of saturation. I would be interested to know if they include studios in the data set with 1 bedrooms as well. that would skew numbers a fair amount.
I'm wondering if the batch of apartments in the pipeline are going to be the last significant apartment construction we're going to see for awhile?

Off the top of my head, I can't think of any new mega-apartment projects in the works (other than the ones now under construction) in Oakland, the Baum-Centre corridor, East Liberty, Lawrenceville, or the Strip District. There's a few still in development in/around downtown though (including up to 800 units in Chateau).
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Old 01-11-2018, 09:09 AM
 
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report shows median rent for 1bed apartment is $1033 and 2bed apartment is $1283, that's way off....i wish i can charge that much.
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Old 01-11-2018, 09:17 AM
 
Location: 15206
1,860 posts, read 2,566,090 times
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Those rental amounts are never really reliable because they don't mention which amenities you get for that. For $1033 average, do you get parking, AC, wifi, utils included or is it just an apartment and you pay for extras?

All of this said, I've seen my average condition rentals getting the same amount for the past 2-3 years. The nicer units are getting closer to 1k / mo for a 1 bedroom. I also have a 2 bedroom in Highland Park that is renting for $50 less than it did 4 years ago.

==

I know that banks aren't lending to developers to build out for sale condos too often - that money is more often invested in hotels and large scale rentals....but I think that some of these projects should flip to for sale condos.

Also, buildings like Baumhaus at S Graham and Baum are offering furnished rentals with less than a year long lease terms and are doing well with those. Basically 1-3 month stays for professionals who are not here all year long.
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Old 01-11-2018, 09:33 AM
gg gg started this thread
 
Location: Pittsburgh
26,137 posts, read 25,799,462 times
Reputation: 17378
Talking to some landlords in the city they are telling me they can't charge as much for their old chopped up triplexes or whatever because young people can get into something newer with amenities, so older places have to drop rent rates. At least that is what I heard, but I don't know if that is accurate as a whole.
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Old 01-11-2018, 01:31 PM
 
Location: Marshall-Shadeland, Pittsburgh, PA
32,606 posts, read 77,302,880 times
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Heh. Someone should show my landlady this article. My rent has consistently increased since I moved here. Now paying $800/month plus all utilities for a dumpy 1-BR just because it's in a neighborhood that was "typical working-class Pittsburgh" a decade ago and "hipster trendy" today.
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Old 01-11-2018, 01:38 PM
 
Location: Downtown Cranberry Twp.
41,018 posts, read 18,029,327 times
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Quote:
Originally Posted by SteelCityRising View Post
Heh. Someone should show my landlady this article. My rent has consistently increased since I moved here. Now paying $800/month plus all utilities for a dumpy 1-BR just because it's in a neighborhood that was "typical working-class Pittsburgh" a decade ago and "hipster trendy" today.
She knows you’re not going to move so she has no reason not to raise it.
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Old 01-11-2018, 01:44 PM
 
233 posts, read 135,507 times
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Quote:
Originally Posted by SteelCityRising View Post
Heh. Someone should show my landlady this article. My rent has consistently increased since I moved here. Now paying $800/month plus all utilities for a dumpy 1-BR just because it's in a neighborhood that was "typical working-class Pittsburgh" a decade ago and "hipster trendy" today.
if you consider Dormont, i have large 2 bedrooms with front porch, back balcony, yards and central air for the same price.
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Old 01-11-2018, 01:57 PM
 
Location: North Oakland
9,150 posts, read 10,832,878 times
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Quote:
Originally Posted by SteelCityRising View Post
Heh. Someone should show my landlady this article. My rent has consistently increased since I moved here. Now paying $800/month plus all utilities for a dumpy 1-BR just because it's in a neighborhood that was "typical working-class Pittsburgh" a decade ago and "hipster trendy" today.
Quote:
Originally Posted by chao View Post
if you consider Dormont, i have large 2 bedrooms with front porch, back balcony, yards and central air for the same price.
Oh, do it, SCR.
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