Study: Property Values Near PNC Park Higher Than Rest Of Pittsburgh
PITTSBURGH (AP) - A real estate study has found that property values in the area of Pittsburgh's PNC Park are 33.6 percent higher on average than they are for the rest of the metropolitan area.
The Pittsburgh Post-Gazette reports the study conducted by the real estate website Trulia also showed that rents are 9.8 percent higher for homes located in the vicinity of the Pittsburgh Pirates' ballpark.
For Pittsburgh, the study calculated the median home value near PNC Park at $175,461. Homes in the rest of the city's metro area came in at $131,293.
The 33.6 percent difference in property values ranks sixth among all Major League Baseball cities.
David Weidner, Trulia's managing editor of research, says cities and local governments look to ensure that stadiums are placed in welcoming neighborhoods.
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