Where Is One of the Most Popular Neighborhoods in America?
According to economists at Realtor.com, it’s right here in Pittsburgh.
Winter is on its way out, and the busy spring home season is upon us. As it turns out, one suburban Pittsburgh neighborhood is more popular than others — even across the nation.
Using data that determines how many views each listing in those markets received in January, economists at Realtor.com identified the 10 most popular neighborhoods in the country.
Sitting at No. 3 on that list is Mt. Lebanon.
According to Realtor.com, listings in Mt. Lebanon received more than three times the number of views as the typical U.S. home. The community was lauded for its top-ranked schools, walkable streets and charming business district, as well as its diverse housing stock.
“Our Mt Lebo clients love where they are for all those reasons and more and have built strong communities they adore there with an excellent quality of life,” says Realtor Abby Wilson, who is part of the Askin-Wilson Group at Compass Real Estate.
In addition, Mt. Lebanon is notable for its easy-to-access public transportation, which includes a station on the Red Line of Pittsburgh Regional Transit’s light rail system that runs throughout parts of the South Hills to Downtown.
The community also lives up to Pittsburgh’s reputation for having some of the most affordable housing in the nation — especially when compared to other neighborhoods on the list.
The median list price in Mt. Lebanon for January was $383,725, which is below the national median of just over $400,000, according to Realtor.com. The most expensive neighborhood on the list was the Beverly Crest neighborhood in Los Angeles. Ranked as the second most popular neighborhood in the U.S., the median home list price was $5.97 million.
Coming in at No. 1 on the list was the Woodmont section of Milford, Conn., which had an average price tag $625,000, while the No. 4-ranked community of Wild Dunes, which sits on the eastern tip of the Isle of Palms in South Carolina, averaged a cost of $1.66 million per home.
Rounding up the list, with a median listing price of $257,472, was the Central Norwich section of Norwich, Conn. It and the Aberdeen neighborhood of Boynton Beach in Florida were the only two communities with lower median prices than Mt. Lebanon. The fifth-most popular neighborhood on the list, Boynton Beach’s average price tag was $341,250.
“The more affordable neighborhoods near the top of the list likely draw buyer attention for their low home prices and considerable bang for your buck,” says Realtor.com senior economic research analyst Hannah Jones.
Worth noting, while Mt. Lebanon’s median list price was on the lower end of Realtor.com’s national list of the most popular neighborhoods, it’s on the higher side for the Pittsburgh region. While home prices vary significantly around the area depending on the neighborhood, the average home price for Pittsburgh is $222,451, according to Zillow.com.
Wilson adds Pittsburgh’s East End (which includes trendy neighborhoods such as Lawrenceville, Shadyside and Squirrel Hill) has an outsized impact on regional housing prices, particularly with her and business partner Emily Askin’s relocation clients who are looking for older and more historically significant housing stock.
“I imagine this will surely change over time as housing prices in the ‘Burgh continue to climb and people continue to move to our fabulous city given its character, relative affordability, climate safety, quality of life, and booming tech and healthcare industries,” she says.