{"id":2793,"date":"2023-02-17T11:34:35","date_gmt":"2023-02-17T16:34:35","guid":{"rendered":"https:\/\/www.deeds.com\/articles\/?p=2793"},"modified":"2024-04-25T23:18:09","modified_gmt":"2024-04-26T03:18:09","slug":"pittsburgh-is-rolling-out-ownpgh-to-help-people-buy-and-keep-houses-and-condos","status":"publish","type":"post","link":"https:\/\/www.deeds.com\/articles\/pittsburgh-is-rolling-out-ownpgh-to-help-people-buy-and-keep-houses-and-condos\/","title":{"rendered":"Pittsburgh Is Rolling Out OwnPGH to Help People Buy\u2014and Keep\u2014Houses and Condos"},"content":{"rendered":"\n
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Pittsburgh, the City of Bridges, is often described as affordable, and a great place to live. But lately, inflation has settled into Pittsburgh\u2019s real estate. Home prices have risen. Rents have gone up. And so has just about everything else.<\/p>\n\n\n\n

Now, Pittsburgh is tapping $15 million in American Rescue Plan funds to help first-time buyers reach their goals, through an initiative called OwnPGH. As of the time of this writing, no start date has been set. But informational sessions are open for reservations.<\/p>\n\n\n\n

Here\u2019s what interested present and future Pittsburgh residents should anticipate as OwnPGH gets under way this year.<\/p>\n\n\n\n\n\n\n\n

Getting Deeds to People<\/h2>\n\n\n\n

Over the last three years, home prices have surged. Some Pittsburgh residents cannot afford housing at all. Underscoring this reality is the 21% two-year rise in the number of Pittsburgh residents without shelter.<\/p>\n\n\n\n

The city had to come up with a plan. It looked at a number of ideas it could boost: housing co-ops? Assistance for developers willing to renovate vacant properties and already-existing housing? Those are good ideas, and often help improve the landscape, especially for renters. But people need stronger help. Those who want to buy real estate in Pittsburgh based on income that falls short of lenders\u2019 current approval criteria are losing out.<\/p>\n\n\n\n

The city has decided that OwnPGH will effectively boost modest-income earners who want to buy primary residences. These are earners who make less money than the average. Their income can\u2019t be over 80% of the city\u2019s median income. That means solo buyers who have annual incomes up to $47,500 are eligible. The max income is $54,300 for couples, and more for families, depending on household size.<\/p>\n\n\n\n

Approved Buyers Can Get a House or Condo, Through Various Support Strategies<\/h2>\n\n\n\n

OwnPGH applicants can get up to $90,000. People can apply for:<\/p>\n\n\n\n