Trends in property rental and ownership

The core data set informing this site is the Greater Hazelwood Community Census which, when combined with findings from secondary data set analysis, reveals four more trends in ownership patterns relating to who is renting, who owns, where each type of housing unit is concentrated, and which style of home is common among each type of occupant.

  1. A higher proportion of renters live in Glen Hazel and “below the tracks”; whereas owners live near the Propel School.

For those who responded to the survey (which does not represent the total population of Greater Hazelwood), there did appear to be concentrations of renters and owners, where the percentage of renters in a zone (which mostly align with the Census Block Group) were significantly higher than the average rental rates across all of Greater Hazelwood.

For example, in Zone 5, which represents the area along Johnston Avenue and includes the Glen Hazel area, the percentage of renters identified in the survey was nearly 90%, compared to 55% across all of Greater Hazelwood. This is almost certainly due to the large number of respondents that completed the survey that reside in the Glen Hazel Family Community, a 127-unit public housing development. Additionally, Zone 3, an area known locally as “below the tracks” due to its geographic location between the railroad tracks and the Monongahela River, in the southwestern part of the neighborhood has a 63% rental rate.

Conversely, Zone 1 has an ownership rate of approximately 70%, which is considerably higher than the 45% average across all of Greater Hazelwood. This corresponds to an area generally around the new Propel Hazelwood, a K-4 school that opened in August 2014.

  1. Corporation-owned housing was rated as lower quality than individual-owned housing in Greater Hazelwood.

The Property Assessment database also contains an assessment of the property’s condition. Of the properties where a response was received, 70% of the housing that was owned by a corporation was rated as less than average quality (Fair, Poor, or Very Poor). For those properties with individual ownership, the percentage that was rated as less than average quality was approximately 55%.

  1. Renters are more likely to live in Row Interior style houses and owners are more likely to live in bi-level, colonial, or ranch-style houses.

The housing stock in Greater Hazelwood is quite diverse, with the Allegheny County Property Assessment database identifying 12 different building types. Of all residents who were surveyed, over 50% lived in an Old Style house, with the next popular being Multi-Family and then Row Interior. Renters are more likely to live in houses that are the Row Interior style (84% of all occupants of this housing type are renters) whereas those who own their own home are more likely to live in Bi-level, Colonial, or Ranch-style homes.

  1. Renters live in houses that are, on average, 16% less expensive than owner-occupied ones.

The average sale price of a corporation-owned property is over 100% higher than a property owned by an individual. In this case, this is being influenced by a few recent outlier sales that were greater than $200,000 that drove the average sales price higher. However, when we look at sales prices of houses owned compared to those that are being rented, the properties currently being rented sold for approximately 16% less than those occupied by owners.

This is a sub-page within the housing inquiry area. See housing home for more information or its other sub pages: investor ownership patterns and property price and volume changes through time.


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