Oklahoma City vs. Pittsburgh market?

Question

I am just getting started and hope to have my first buy and hold rental property by mid 2018.  I am moving from Oklahoma City to Pittsburgh and want to know which market would be more stable for a rental property?

Anthony Angotti · Answer

Hey @Juan Rango

I don't know Oklahoma City very well, but it also seems like you might be in a good place to invest in both and diversify your holdings a little bit across two different markets.

Are you open to house hacking or are you looking for strictly something to rent out?

Juan Rango · Answer

Thanks @Anthony Angotti!  I have thought about investing in Oklahoma but want to make sure I can buy a primary residence in Pittsburgh.  I feel like we're going to end up buying at a peak in Pittsburgh.  What are some of the most stable neighborhoods historically?  Any up and coming neighborhoods undergoing gentrification?

Juan Rango · Answer

Thanks @Justin Riapos we are super excited about the move and all the opportunities available!

Gary Swank · Answer

Hi again @Juan Rango. Squirrel Hill and Shadyside are wonderful neighborhoods.  We can talk more about what you are looking for, in your target price, in those and all areas of Pittsburgh to determine what can offer the best returns and earned equity for you. I sent you a colleague request, please accept and we can talk more in detail. Thanks, Gary

Juan Rango · Answer

Thanks @Gary Swank! I was also looking at my primary residence in squirrel hill or shady side neighborhoods.  I have heard good things about both.  I am looking for deals that are below $200,000 with the potential for some increase in equity in the form of improvements.   What is the market like?

Gary Swank · Answer

Hi @Juan Rango Pittsburgh has a strong rental market with some areas being more stable than others.  Being that Pittsburgh is not a transient kind of city, historically people tend to stay and raise their families here. We also have had, in recent years, seen an influx of young professionals who are making Pittsburgh their home and therefore need places to rent. Not to mention the many tech companies that have moved in or expanded seeking housing for their employees.