After holding steady through most of 2023, apartment construction in Pittsburgh is at the lowest level recorded over the past 10 years. Just under 1,400 apartment units are underway in Pittsburgh as of March 2024 and completions this year are slated to fall 12% from 2023. Challenging economic conditions are the main driver of slowing construction activity as financing, material and land costs remain high.
Pittsburgh Ranks Last Among Major Midwest Markets for Apartment Construction
Limited Development Keeps Vacancy Below the Historical Average
CoStar Analytics
March 11, 2024 | 5:52 P.M.
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