While Pittsburgh’s array of 90 distinct neighborhoods offers plenty in terms of real estate investment, those looking for a reprieve from the metro lifestyle can explore nearby cities that offer solace in suburbia.
Pittsburgh, Pennsylvania, is unrivaled in its industrial heritage as the Steel City, and seamlessly couples its historical legacy with modern innovation. The city’s diverse terrain is shaped by the confluence of three rivers and the surrounding rolling hills, captivating visitors and locals alike. Moreover, it is among the best cities in the country for generating sizeable returns from real estate investment.
Find Pittsburgh Foreclosure Properties
Real estate entrepreneurs interested in flipping or acquiring rental properties with strong cash flow can opt to invest in foreclosures in Pittsburgh. As an investor, you can tap into the foreclosure markets of many counties in the Pittsburgh metropolitan area that have seen sales rates appreciate by 3% Year-over-Year (YoY), as per Auction.com’s June 2024 data.
If you want to flip a home here, you may expect substantial returns. As per Redfin’s February 2024 data, reported by Norada, nearly a quarter of the homes sold above the list price, which represents a 4.9-point uptick from the previous year.
Those who prefer more nature-adjacent and calmer settings than in the Pittsburgh metro, albeit with proximity to schooling and employment districts, can look at suburbs like Aspinwall, Mount Lebanon, and McKeesport. These cities and boroughs may offer ample opportunities for significant returns on property investment, including for potential resale to locals seeking an upgraded home. Here are details about the top seven such areas.
Mount Pleasant
Situated about 45 minutes southeast of Pittsburgh, Mount Pleasant is known for its rolling farmland, historic pizzazz, and plentiful avenues for outdoor recreation. This scenic locality of the Laurel Highlands region has a highly rated school district with prestigious institutions like the Mt Pleasant Area High School, Ramsay Elementary, and Norvelt Elementary. Alongside the perks of suburbia, living here affords residents access to employment with companies predominantly in the finance and insurance sectors.
Aspinwall
Living in the suburb of Aspinwall comes with boundless walkability to shopping centers and restaurants, several riverfront properties, and an inclusive sense of community with no lack of urban charm. This Pennsylvania borough also offers luxury recreational experiences on the water at the Fox Chapel Yacht Club and Aspinwall Marina, in addition to frequent musical acts across multiple venues.
Sewickley
This Pittsburgh metro area’s township real estate boasts of large built-up areas with ranches, Tudor-style red brick mansions, vast backyards, and the occasional in-ground pool. A seller’s market that witnessed a 7.5% hike in median home sale prices YoY in June 2024, as per Rocket Homes, which makes it a hot destination for house flippers. The New Sewickley Township is set to witness the development of 220 homes across 90 acres consisting of single-family homes, four-unit condo buildings, and duplexes, bound to drum up investor interest in this region.
Upper St Clair
The Upper St Clair housing market is one that favors investment over owner-occupancy with days to sell a home down by 15.5% YoY in June 2024. The area is set to attract aggressive real estate activity and investor interest as plans are in place to build 41 homes across 35 acres of prime land near Peters Lake. So, there is no time like now to invest here.
McKeesport
This city had a highly affordable median home price of $56K in June 2024, less than a quarter that of Pittsburgh, according to Redfin. McKeesport is served by the Pittsburgh Regional Transit intercity and intracity bus service allowing for pitch-perfect connectivity with Pittsburgh’s commercial districts. Aspiring entrepreneurs planning to move here should know that the City of McKeesport offers low-interest enterprise loans, technical assistance matching grants, and job training that factor into the ease of doing business here.
Greensburg
Greensburg serves as the county seat of Westmoreland County and blends small-town appeal with the convenience of urban infrastructure. This city offers a healthy mix of cultural and educational experiences as it is home to Seton Hill University and the Westmoreland Museum of American Art. According to Redfin’s June 2024 data, homes in Greensburg sell after 39 days on the market, compared to 43 days in 2023, which may spell good tidings for eager house flippers.
Moon Township
This township is home to the Pittsburgh International Airport, which is the main terminal to the region and is undergoing massive renovation and expansion, attracting a constant inflow of investment for surrounding areas. Tons of development projects are underway at the economic zones adjacent to the airport, such as in Clinton Commerce Park, Cherrington Commerce Center, Industry Drive, and Airside Business Park. Moon is also a university hub with such acclaimed institutions as La Roche University and Robert Morris University.
Links To Helpful tools:
- Remote Bid™: The future of Foreclosure auctions. Browse, bid, and win select Foreclosure properties from anywhere with ease. Qualify for Remote Bid™ or meet with a specialist today.
- Frequently Asked Questions: Find answers to frequently asked questions from Auction.com users.
- Foreclosure Home Properties Help Center: Navigate through a Foreclosure auction with confidence using our quick access guide. Learn terminology and catch up on state requirements. We have tailored sections for Foreclosure and REO properties.
- Real Estate Auction Calendar: Find real estate auction events in your area. Filter by state, asset type, and date to get a list of properties near you, or search Auction.com to start a list of properties with our useful filters.
- What is Auction.com? Find out what auction.com can do for you.
- Start your search! Visit the Auction.com search page to find all our foreclosure & bank-owned homes
The information in this blog post is being provided for informational purposes only and not for the purpose of providing legal or real estate investment advice, and no liability is assumed by Auction.com, LLC. with respect to such information.
