Pittsburgh, PA Multifamily Market Report | Yardi Matrix | Q4 2025

Market Overview

Pittsburgh opened 2026 with occupancy in stabilized assets at 95.2% in February, 90 basis points above the national figure, and unemployment at just 3.6% at year-end 2025, 80 basis points below the U.S. average. Employment grew 1.4% year-over-year in 2025, more than double the national rate, with 12,700 net jobs added and education and health services accounting for the bulk of gains. Average asking rents edged down 0.1% on a trailing three-month basis through February to $1,444, consistent with seasonal trends and the national pattern. Deliveries slowed to 1,067 units in 2025, with 4,735 units under construction as of February. The opening of Pittsburgh International Airport's new terminal and a $1.7 billion UPMC Presbyterian Hospital expansion reinforce the metro's long-term economic base.

About Yardi Matrix

Yardi Matrix is a national commercial real estate data and analytics firm serving investors, developers, and property managers across asset classes. Their Pittsburgh April 2026 multifamily market report covers asking rents, occupancy, employment trends, and construction pipeline activity to help owners and investors assess market conditions. To read the full report, click here.