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Penn Hills, Pittsburgh, PA—15235

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$175,000
0.6% YoY Growth
Household Income
$62,300
7.4% YoY Growth
Days on Market
45
22.0% Shorter YoY
Home Price Forecast
-1.0%
Median Rent
$1,400
2.9% YoY Growth
1-Bed Rent
$849
4.2% YoY Growth
2-Bed Rent
$1,190
2.5% YoY Growth
3-Bed Rent
$1,480
0.7% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Penn Hills, Pittsburgh, PA

As of May '26, the median home price in Penn Hills, Pittsburgh, PA is $175,000, with a year-over-year change of 0.6%. This indicates that home prices in Penn Hills, Pittsburgh, PA are flat. According to Zillow, the 1-year price projection is -1.0%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$175,0000.6%
Single Family $174,000-0.6%
Condos $215,000-1.4%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$135,000-0.7%
    3 Bed
    		$174,0000.0%
    4 Bed
    		$241,0000.8%
    5 Bed $288,1210.7%
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    % of Housing Stock

    Studio
    1.5%
    1 Bedroom
    10.2%
    2 Bedrooms
    18.3%
    3 Bedrooms
    49.0%
    4 Bedrooms
    19.2%
    5+ Bedrooms
    1.8%

    Rental Trends — Penn Hills, Pittsburgh, PA

    As of July '25, Rentcast reports the average rent in Penn Hills, Pittsburgh, PA is $1,360, with a year-over-year rent change of -2.9%. Per bedroom, the median rent as of July '25 in Penn Hills, Pittsburgh, PA is studios: $874, 1-bedrooms: $881, 2-bedrooms: $1,190, 3-bedrooms: $1,500, 4-bedrooms: $1,700. The most common rental property sizes in Penn Hills, Pittsburgh, PA are 1-bedroom and 2-bedroom, accounting for 36.1% and 27.0% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,400$1,360
    Studio Rent $750$874
    1 Bed Rent $849$881
    2 Bed Rent $1,190$1,190
    3 Bed Rent $1,480$1,500
    4 Bed Rent $1,650$1,700
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    % of Rental Stock

    Studio
    4.0%
    1 Bedroom
    36.1%
    2 Bedrooms
    27.0%
    3 Bedrooms
    21.4%
    4 Bedrooms
    10.6%
    5+ Bedrooms
    0.9%

    Property Listings — Penn Hills, Pittsburgh, PA

    As of May '26, Realtor.com reports that the median days on market for a home in Penn Hills, Pittsburgh, PA is 45. This is a decrease of -22.0% 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 17.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$212,0005.0%
    Listing Count
    		14110.0%
    Listings as % of Homes0.7%10.0%
    Days on Market
    		45-22.0%
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    Demographics — Penn Hills, Pittsburgh, PA

    As of the latest ACS Survey released in 2023, Penn Hills, Pittsburgh, PA has a population of 33,800, which has decreased by -2.7% over the past 5 years. Penn Hills, Pittsburgh, PA is a moderately popular place for families, as children make up 19.6% of the population. The area has a moderately educated workforce, with 35.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.8% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		33,800-2.7%
    % Under 18
    		19.6%-1.0%
    % Seniors
    		23.0%16.2%
    % WFH
    		14.8%208.3%
    % w/ College Degree
    		35.5%-1.7%
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    As of the latest ACS Survey released in 2023, Penn Hills, Pittsburgh, PA is a predominantly white area, with 51.0% of the population identifying as white. The white population has shrunk by 6.8% in the last 5 years. The second most common race or ethnicity in Penn Hills, Pittsburgh, PA is black, making up 39.7% of the population. Foreign-born residents account for 3.7% of the population in Penn Hills, Pittsburgh, PA, and this percentage has increased by 76.2% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		51.0%-6.8%
    % Black
    		39.7%1.3%
    % Hispanic
    		1.8%12.5%
    % Asian
    		0.6%20.0%
    % Foreign Born
    		3.7%76.2%
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    Mortgage and Risk — Penn Hills, Pittsburgh, PA

    According to HUD data as of 2023, there were 748 mortgage originations in Penn Hills, Pittsburgh, PA, of which 75.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 35.0% above 90% LTV (very high). This implies large mortgage risk in Penn Hills, Pittsburgh, PA. Investor activity is low, as 1.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		748
    % Conventional Loans
    		75.0%
    % Government Loans
    		25.0%
    % Investor Loans
    		1.0%
    % Second Loans
    		1.0%
    % Cash Out Refinance
    		13.0%
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    Rentals and Section 8 — Penn Hills, Pittsburgh, PA

    As of 2024, the percent of homes in Penn Hills, Pittsburgh, PA under the Section 8 program is 15.9%. 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. In Penn Hills, Pittsburgh, PA, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.

    Section 8 Market Size

    Total Units under HUD
    		1,155
    Total Units Section 8
    		1,035
    % Rentals under Section 8
    		15.9%
    % Occupied Section 8
    		97.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$261$849$1,110
    2 Bedroom$140$1,190$1,330
    3 Bedroom$220$1,480$1,700
    4 Bedroom$180$1,650$1,830

    Affordability — Penn Hills, Pittsburgh, PA

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio2.6
    Median Home Price$175,000
    Median Household Income$62,300

    Penn Hills, Pittsburgh, PA — ZIP Code Boundary Map

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    Frequently Asked Questions