Condo owners are starting to feel the effects of the condo renaissance in the Greater Pittsburgh area.
That’s because some condos are being sold at record prices.
The market has been buoyed by the arrival of developers such as Arup, KKR, and others, but it has also been fueled by the rapid expansion of single-family homes in recent years.
This has prompted more people to move into the neighborhood and create new housing opportunities.
Here are some of the things to know about condo rentals in Pittsburgh:Rental rates are still quite affordableThe average condo rental price in the Pittsburgh area is $4,000 per month, according to the Pennsylvania Housing Authority.
That compares to the average rental rate in New York City, where the average rent is $6,000.
But condo rentals have gotten a lot cheaper over the past few years, and are now more affordable than they have ever been in the city.
The average condo rents have decreased by more than 50 percent since 2005, according the Pennsylvania Home Builders Association.
The average one-bedroom condo rental in the area is now $1,700.
That is a significant drop from $2,400 in the mid-1990s.
But the condo market is still in the midst of a huge bubble.
The condo market peaked in 2008, when the number of new condo units built exceeded the number that were sold.
Today, the number is closer to one condo for every three existing ones.
But condos that are being built are also being bought at a much higher rate than they were five years ago, according oncologist Robert E. Zirkel.
That trend has only continued since then, he said.
The number of condos that have been purchased in the last five years is still at an all-time high.
There are more than 5,500 units that have recently been purchased.
And the city is on track to reach a record number of condominium sales in 2020.
That would put the city on pace to be home to about 7.7 million condo units, according Topping the list would be Pittsburgh, with 3.2 million.
