Homewood, Pittsburgh, PA—15208
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Homewood, Pittsburgh, PA
As of Oct '25, the median home price in Homewood, Pittsburgh, PA is $161,000, with a year-over-year change of -10.9%. This indicates that home prices in Homewood, Pittsburgh, PA are decreasing. According to Zillow, the 1-year price projection is -1.7%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $161,000 | -10.9% |
| Single Family | $159,000 | -10.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $69,000 | -15.9% |
3 Bed | $140,000 | -9.7% |
4 Bed | $332,000 | -2.4% |
| 5 Bed | $369,000 | -2.6% |
% of Housing Stock
Rental Trends — Homewood, Pittsburgh, PA
As of July '25, Rentcast reports the average rent in Homewood, Pittsburgh, PA is $1,690, with a year-over-year rent change of 26.1%. Per bedroom, the median rent as of July '25 in Homewood, Pittsburgh, PA is studios: $1,270, 1-bedrooms: $960, 2-bedrooms: $1,470, 3-bedrooms: $2,300, 4-bedrooms: $2,940. The most common rental property sizes in Homewood, Pittsburgh, PA are 2-bedroom and 3-bedroom, accounting for 37.1% and 27.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,690 |
| Studio Rent | $1,270 | $1,270 |
| 1 Bed Rent | $950 | $960 |
| 2 Bed Rent | $1,380 | $1,470 |
| 3 Bed Rent | $2,100 | $2,300 |
| 4 Bed Rent | $1,940 | $2,940 |
% of Rental Stock
Property Listings — Homewood, Pittsburgh, PA
As of Oct '25, Realtor.com reports that the median days on market for a home in Homewood, Pittsburgh, PA is 90. This is a decrease of -8.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 14.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $242,000 | 144.0% |
Listing Count | 29 | 27.0% |
| Listings as % of Homes | 0.4% | 27.0% |
Days on Market | 90 | -8.0% |
Demographics — Homewood, Pittsburgh, PA
As of the latest ACS Survey released in 2023, Homewood, Pittsburgh, PA has a population of 9,500, which has decreased by -3.3% over the past 5 years. Homewood, Pittsburgh, PA is a moderately popular place for families, as children make up 24.9% of the population. The area has a highly educated workforce, with 50.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 23.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 9,500 | -3.3% |
% Under 18 | 24.9% | 10.2% |
% Seniors | 21.1% | 6.0% |
% WFH | 23.7% | 374.0% |
% w/ College Degree | 50.9% | 15.2% |
As of the latest ACS Survey released in 2023, Homewood, Pittsburgh, PA is a predominantly black area, with 45.9% of the population identifying as black. The black population has shrunk by 22.3% in the last 5 years. The second most common race or ethnicity in Homewood, Pittsburgh, PA is white, making up 41.4% of the population. Foreign-born residents account for 5.9% of the population in Homewood, Pittsburgh, PA, and this percentage has increased by 43.9% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 41.4% | 23.2% |
% Black | 45.9% | -22.3% |
% Hispanic | 3.8% | 137.5% |
% Asian | 2.9% | 16.0% |
% Foreign Born | 5.9% | 43.9% |
Mortgage and Risk — Homewood, Pittsburgh, PA
According to HUD data as of 2023, there were 111 mortgage originations in Homewood, Pittsburgh, PA, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 16.0% above 90% LTV (elevated). This implies medium mortgage risk in Homewood, Pittsburgh, PA. Investor activity is low, as 8.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 111 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 8.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Homewood, Pittsburgh, PA
As of 2024, the percent of homes in Homewood, Pittsburgh, PA under the Section 8 program is 50.9%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Homewood, Pittsburgh, PA, because HUD payments exceed market rent, while 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,247 |
Total Units Section 8 | 1,059 |
% Rentals under Section 8 | 50.9% |
% Occupied Section 8 | 71.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $310 | $950 | $1,260 |
| 2 Bedroom | $130 | $1,380 | $1,510 |
| 3 Bedroom | -$170 | $2,100 | $1,930 |
| 4 Bedroom | $130 | $1,940 | $2,070 |
Affordability — Homewood, Pittsburgh, PA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $161,000 |
| Median Household Income | $59,300 |