{"id":1004183223,"date":"2017-08-07T00:45:18","date_gmt":"2017-08-07T08:45:18","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004183223"},"modified":"2025-02-26T23:23:05","modified_gmt":"2025-02-27T07:23:05","slug":"eds-and-meds-spur-growth-in-pittsburgh","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/eds-and-meds-spur-growth-in-pittsburgh\/","title":{"rendered":"Eds and Meds Spur Growth in Pittsburgh"},"content":{"rendered":"<p>By Adriana Pop<\/p>\n<div id=\"attachment_1004183224\" style=\"width: 410px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/chart4.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004183224\" data-attachment-id=\"1004183224\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/eds-and-meds-spur-growth-in-pittsburgh\/chart-9\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/chart4.jpg\" data-orig-size=\"1007,433\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Pittsburgh rent evolution, click to enlarge\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Pittsburgh rent evolution, click to enlarge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/chart4.jpg?w=1007\" class=\"wp-image-1004183224\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/chart4.jpg\" alt=\"Pittsburgh rent evolution, click to enlarge\" width=\"400\" height=\"172\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/chart4.jpg 1007w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/chart4.jpg?resize=300,129 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/chart4.jpg?resize=768,330 768w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/><\/a><p id=\"caption-attachment-1004183224\" class=\"wp-caption-text\">Pittsburgh rent evolution, click to enlarge<\/p><\/div>\n<p>Once a predominantly blue-collar city, Pittsburgh today relies on a diversified innovation economy and a highly educated workforce. University-based research is focused on life sciences, information technology and robotics, which are major economic drivers for both the region and nation.<\/p>\n<p>Despite a slowly shrinking population, the city\u2019s multifamily market remains steady, bolstered by increased hiring in recession-resistant sectors\u2014such as education and health services\u2014which has had a ripple effect on the region\u2019s economy, driving demand for apartments and office space. Most of the growth can be attributed to the two largest health-care systems, UPMC and Allegheny Health Network, as well as education institutions such as the University of Pittsburgh, Carnegie Mellon University, Duquesne University and Robert Morris University. Increased tourism activity over the past year has also led to significant employment gains in the leisure and hospitality industry, offsetting the loss of manufacturing and mining jobs.<\/p>\n<p>Demand for apartments is especially strong downtown, where more than 40 percent of all residents are Millennials. Developers are targeting the area, which has seen the city\u2019s fastest population growth in the seven years post-recession. Overall, the metro continues to be an affordable place to live, with rents averaging $1,038 as of May and a median home price of approximately $135,000 over the past year.<\/p>\n<p><a href=\"https:\/\/www.yardimatrix.com\/Media\/Downloads\/File\/262-Pittsburgh-Summer2017Outlook?utm_medium=Research-Center&amp;utm_source=CPE&amp;utm_campaign=262-Pittsburgh-Summer2017Outlook\" target=\"_blank\" rel=\"noopener noreferrer\">Read the full Yardi Matrix report.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Despite a slowly shrinking population, the city\u2019s multifamily market remains steady, bolstered by increased hiring in recession-resistant sectors. Through May, rents rose 0.3 percent, trailing the nation\u2019s 1.5 percent rate, Yardi Matrix data shows.<\/p>\n","protected":false},"author":260,"featured_media":1004183225,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37769,21808,21742,10,37795,1602],"tags":[],"class_list":["post-1004183223","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rc-absorption","category-featured","category-latest","category-northeast","category-rc-occupancy","category-pittsburgh"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Eds and Meds Spur Growth in Pittsburgh - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/eds-and-meds-spur-growth-in-pittsburgh\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Eds and Meds Spur Growth in Pittsburgh\" \/>\n<meta property=\"og:description\" content=\"Despite a slowly shrinking population, the city\u2019s multifamily market remains steady, bolstered by increased hiring in recession-resistant sectors. Through May, rents rose 0.3 percent, trailing the nation\u2019s 1.5 percent rate, Yardi Matrix data shows.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/eds-and-meds-spur-growth-in-pittsburgh\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-08-07T08:45:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-27T07:23:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Pittsburgh-MatrixMetros_covers_800x620-new-logo.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/eds-and-meds-spur-growth-in-pittsburgh\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/eds-and-meds-spur-growth-in-pittsburgh\/\",\"name\":\"Eds and Meds Spur Growth in Pittsburgh - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/eds-and-meds-spur-growth-in-pittsburgh\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/eds-and-meds-spur-growth-in-pittsburgh\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Pittsburgh-MatrixMetros_covers_800x620-new-logo.jpg\",\"datePublished\":\"2017-08-07T08:45:18+00:00\",\"dateModified\":\"2025-02-27T07:23:05+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/c6fbe4a6cd09e6097b39e787ae96d7ad\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/eds-and-meds-spur-growth-in-pittsburgh\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/eds-and-meds-spur-growth-in-pittsburgh\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/eds-and-meds-spur-growth-in-pittsburgh\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Pittsburgh-MatrixMetros_covers_800x620-new-logo.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Pittsburgh-MatrixMetros_covers_800x620-new-logo.jpg\",\"width\":800,\"height\":620},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/eds-and-meds-spur-growth-in-pittsburgh\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Eds and Meds Spur Growth in Pittsburgh\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/c6fbe4a6cd09e6097b39e787ae96d7ad\",\"name\":\"Adriana Pop\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Adriana.jpg?w=91\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Adriana.jpg?w=91\",\"caption\":\"Adriana Pop\"},\"description\":\"Adriana Pop is a senior editor with Commercial Property Executive and Multi-Housing News. 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