Market Snapshot
- Median listing price
- $232K
- Median rent
- $1,200/mo
- Days on market
- 293 days
- Gross rental yield
- 6.21%
- STR vs LTR
- $2,470/mo STR · $1,200/mo LTR
The median listing price in Pittsburgh, PA ZIP 15216 is $232,000 as of May 2026.
The median market rent in Pittsburgh, PA ZIP 15216 is $1,200/month as of May 2026.
The median days on market in Pittsburgh, PA ZIP 15216 is 293 days as of May 2026. The market is currently neutral.
At a median list price of $232,000 and a median rent of $1,200/month, the gross rental yield in Pittsburgh, PA ZIP 15216 is 6.21% as of May 2026.
In Pittsburgh, PA ZIP 15216, median Airbnb revenue is $2,470/month compared to median long-term rent of $1,200/month as of May 2026.
Pittsburgh, PA 15216 Real Estate Market Report
ZIP Code: 15216
Report Date: May 2026
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.
Market Overview
This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Market Metrics
The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Rental Market
Property Taxes
Liquidity & Velocity
Market Trends & Context
Understanding Market Temperature
A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.
Current Mortgage Rate Context
Market-level mortgage rate comparison for this area:
Current 30-year fixed mortgage rates in the 15216 area are averaging approximately 6.36%, which is 0.47% lower than the 6.83% rates observed in this market one year ago.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
- The neighborhood’s primary market indicator, median sold price 235,000, shows realized market value from recent transactions and aligns with a price trend that is up year-over-year.
- The median listing price 232,000 sits slightly below the median sold price 235,000, which may indicate modest seller adjustment and limited pricing friction between asks and final sale values.
- Liquidity signals are mixed: a long median days on market of 293 suggests slower sales velocity, while the market temperature is neutral and the area appears to have relatively constrained active supply—together these point to a balanced market that may require patience to transact.
- Financing and cost-of-capital remain an influence: current local 30‑year fixed mortgage rates average 6.36%, which is 0.47% lower than the 6.83% observed one year ago, even as interest rate pressure is characterized as elevated; continue to monitor rate movement when advising buyers or pricing listings.
Notable Properties
The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold above market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold below market average
Sold below market average
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.37% rate, 1.5% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 5/13/2026
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