Pittsburgh real estate vs inflation: did it beat the dollar?
221% × 46%
Updated June 1, 2026 · Redfin · BLS / FRED (CPIAUCNS)
Since 2013, Pittsburgh real estate is up 221% while U.S. consumer prices rose 46%. Pittsburgh real estate far outpaced inflation — but the ride was brutal: its worst drop was 36%. Figures in U.S. dollars.
Base 100 since 2013
Why compare Pittsburgh home prices (US$/m²) and U.S. inflation (CPI-U)
Pittsburgh is one of the more affordable large metros in this set, a former steel city that reinvented itself around healthcare, education and technology. Its per-square-meter value tends to sit well below the coastal markets, reflecting decades of measured price growth rather than boom-and-bust swings. Notably, Pittsburgh was less exposed to the speculative run-up before 2008, so it generally weathered the housing crash with smaller declines than Sun Belt or coastal metros that fell harder.
Returns by window
| Window | Pittsburgh home prices (US$/m²) | U.S. inflation (CPI-U) |
|---|---|---|
| 1 year | -0% | 4% |
| 5 years | 12% | 24% |
| 10 years | 69% | 39% |
| since 2013 | 221% | 46% |
The price of return: risk
| Asset | Annual volatility | Worst drop |
|---|---|---|
| Pittsburgh real estate | 30% | -36% |
| Inflation (CPI) | 1% | -2% |
$10,000 in each, since 2013
| Asset | Value today |
|---|---|
| Pittsburgh real estate | $32,070 |
| Inflation (CPI) | $14,553 |
Frequently asked questions
Did Pittsburgh real estate beat inflation?
Over the period, Pittsburgh real estate returned 221% while U.S. consumer prices rose 46%. The gap is what the asset earned beyond simply keeping pace with the dollar.
Does this account for the dollar losing value?
Yes. The inflation line is U.S. CPI, the measure of how much purchasing power the dollar lost over the same period. Returns above that line are gains in real terms.
Does a higher return mean a better investment?
Not on its own. A higher return came with higher risk here — the volatility and the largest drop on this page show how much the value swung along the way.
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Descriptive, educational content computed from official public data. Not investment advice. Past performance does not guarantee future results.