Mount Washington, a vibrant neighborhood in Pittsburgh, Pennsylvania, is renowned for its stunning city skyline views and iconic inclines. Over the past decade, this area has experienced significant changes in its real estate market, particularly in home values and ownership rates. From 2013 to 2022, the homeownership rate in Mount Washington remained relatively stable, averaging around 45%. However, during this period, average home prices saw a substantial increase, more than doubling from $93,144 in 2010 to $205,361 in 2022. This dramatic rise in home values did not correspond with a significant change in homeownership rates, suggesting that other factors influenced residents' decisions to buy or rent.

Federal interest rates have played a role in shaping homeownership trends in Mount Washington. Between 2010 and 2015, interest rates remained historically low, ranging from 0.09% to 0.18%, coinciding with stable homeownership rates. As interest rates began to climb from 2016 onwards, reaching 1.68% in 2022, there was a slight decrease in homeownership, dropping from 45% in 2017 to 44% in 2022. This trend indicates that rising interest rates may have made homeownership less accessible for some residents.

The rental market in Mount Washington has also undergone notable changes. The percentage of renters increased from 55% in 2013 to 56% in 2022, peaking at 59% in 2020. Average rent prices steadily rose from $972 in 2013 to $1,055 in 2022, representing an 8.5% increase over this period. Concurrently, the population of Mount Washington decreased from 8,964 in 2013 to 8,420 in 2022, potentially contributing to the slight increase in rental demand and subsequent rise in rent prices.