LATEST DATA

CORPORATE HOUSING STUDY

August 2023

The Pittsburgh Community Reinvestment Group’s Corporate Housing Study delves into the escalating trend of housing sales to corporate entities and real estate investors in major U.S. metropolitan areas over the past decade. It found that, from 2010 to 2021, the share of houses sold to corporate entities or real estate investors in the City of Pittsburgh increased from 15.5% of sales in 2010 to 24.8% of sales in 2021 while paying a fraction of the price of regular homebuyers. The remaining communities of Allegheny County experienced a similar increase from 9.7% of sales in 2010 to 18.0% of sales in 2021.

ANNUAL MORTGAGE LENDING STUDY

March 2023

The Pittsburgh Community Reinvestment Group’s Annual Mortgage Lending Study provides a current portrait of mortgage lending trends in Allegheny County and the City of Pittsburgh. PCRG prepared this study using 2021 data that’s publicly available as a result of the Home Mortgage Disclosure Act (HMDA) and designed to monitor the performance of financial institutions seeking to meet their community investment requirements under the Community Reinvestment Act (CRA). The goal of publishing these findings is to ensure that policymakers and community members can better access the wealth of publicly available data to better understand the state of lending in Pittsburgh.

Black homeownership report

March 2022

The Pittsburgh Community Reinvestment Group’s Black Homeownership Report provides a look into the decline of Black homeownership in the City of Pittsburgh over the course of a decade. Pittsburgh’s Black population dropped by approximately 10,500 people, or 13.4%, from 2010 to 2020, compared to an overall 0.9% decrease in the overall population. During that same period, median home prices in the region have increased significantly, with Pittsburgh’s median home value increasing by 69.5% from $88,000 in 2010 to $149,200 in 2019. Changing dynamics in previously affordable homes have led to fears of gentrification and displacement, and a growth in sales to corporate entities has reduced the supply of quality and affordable homes available. Corporate entities made up roughly 1 in 6 single-family residential housing purchases in 2020, up from 1 in 9 in 2010, causing further housing instability for Pittsburgh’s low- and moderate-income (LMI) homebuyers.