Pittsburg, Kansas, a city with a rich mining heritage and home to Pittsburg State University, has experienced notable shifts in its housing market over the past decade. The city's homeownership rates have shown resilience amidst fluctuating home prices and changing economic conditions. From 2013 to 2022, homeownership rates in Pittsburg saw minor variations, starting at 50% in 2013, dipping to 45% in 2018, and then rebounding to 49% in 2022. This trend appears to correlate with changes in average home prices, which decreased from $82,093 in 2013 to $80,131 in 2018, before rising significantly to $114,249 in 2022.

Federal interest rates have played a crucial role in shaping homeownership trends in Pittsburg. The period from 2013 to 2016 was characterized by historically low interest rates, ranging from 0.1% to 0.4%. During this time, homeownership rates in Pittsburg remained relatively stable at around 49-50%. As interest rates began to climb from 2017 (1%) to 2019 (2.16%), there was a noticeable decline in homeownership rates, reaching a low of 45% in 2018. This pattern aligns with the general trend of lower interest rates encouraging homeownership due to more affordable financing options.

The renter-occupied percentage in Pittsburg has shown an inverse relationship to homeownership rates. The proportion of renters increased from 50% in 2013 to a peak of 55% in 2018, before slightly declining to 51% in 2022. Interestingly, average rent prices have not consistently followed this trend. The average rent increased from $762 in 2013 to $768 in 2014, then fluctuated over the years, reaching $758 in 2022. The highest average rent was recorded in 2021 at $782, coinciding with a slight decrease in the renter percentage to 51%, possibly indicating a market response to higher rental costs.