PNC Park Real Estate Values Higher Than Other Metro Areas
PNC Park was even friendlier to homeowners than it was to baseball pitchers. According to a report by Trulia, property values near the North Shore's ballpark, which had a reputation of being kinder to pitchers than to hitters, were 33.6 percent more than the median values in the Pittsburgh metropolitan in general.
According to the report released this week by the real estate website Trulia, rents were also 9.8 percent more near the Pirates' park than in the rest of the metro area.
The PNC Park based study by Trulia looked at property values within a mile of the major league ballpark. It found out that the average values in the neighborhoods around the ballparks were higher than those that are found in the city, as a whole. On top of that, similar trends were seen as value boosters in other metropolitan areas, according to a feature from Pittsburgh Post-Gazzete.
In Pittsburgh, Trulia was able to discover that the median home value near the PNC Park was at $175,461 compared with $131,293 in the area as a whole. With the information, there is a 33.6 percent difference in the values. The figure was the sixth-highest among all U.S. ballparks, behind New York's Yankee Stadium, Boston's Fenway Park, Cincinnati's Great American Ball Park, Detroit's Comerica Park, and Houston's Minute Maid Park.
Howard Hanna III, Howard Hanna Real Estate Services chief executive officer in Pittsburgh, by did not take the information as a surprise detail. He pointed out that the PNC Park area, as well as those that are in 1-mile radius coverage includes big league real estate properties from the luxury condos Downtown to the century-old Victorian rowhouses on the Mexican War Streets on the North District to the expensive real estate on Grandview Avenue on Mount Washington.
PNC Park Downtown condos alone were 33 percent higher than the average price in Western Pennsylvania.