Pittsburgh Among Cities With Nation's Fewest Million-Dollar Homes

PITTSBURGH, PA — Pittsburgh has the third-lowest percentage of million-dollar homes out of the 50 largest metro areas in the country, a new study has determined.

Online lending marketplace LendingTree found that only Buffalo and Cleveland had a lower percentage of million-dollar properties than Pittsburgh. The cities with the most all were in California: San Jose, San Francisco and Los Angeles.

For the study, LendingTree ranked the nation’s 50 largest metropolitan statistical areas by the share of owner-occupied homes - with or without a mortgage - that are valued at or above $1
-million. LendingTree then divided the number of owner-occupied housing units priced at

$1 million or more by the overall number of owner-occupied housing units in the area.

Data for the study comes from the U.S. Census Bureau’s 2019 American Community Survey with five-year estimates (the latest survey available at the time of this study’s writing).

Here are LendingTree's numbers for the Pittsburgh market:

• Overall housing units: 702,216
• Number of units valued at or above $1 million: 4,794
• Percentage of units valued at or above $1 million: 0.68 percent
• Median value of owner-occupied housing units: $154,000

Buffalo had the lowest percentage of million-dollar residences at 0.54 percent. Cleveland was next at 0.66 percent.

See the entire study here.