Pittsburgh Single-Family Rentals
Now Available on Roofstock
Innovative online real estate investment marketplace continues its national expansion
OAKLAND, Calif., May 15, 2018 – Roofstock, the leading investment marketplace for single-family rental (SFR) homes, today announced that it has expanded into the Pittsburgh metro area. Investors can now buy, own and sell SFRs in this western Pennsylvania market on Roofstock’s comprehensive online platform.
“Pittsburgh is clearly experiencing a renaissance,” explains Gary Beasley, co-founder and CEO of Roofstock. “Employment and population trends are positive in the metro area, partially fueled by an influx of millennials attracted to the metro’s tech sector, as well as its arts, cultural and entertainment scene. The relatively low cost of real estate also makes Pittsburgh an attractive investment market, as rental yields are considerably higher than they are in more expensive coastal markets.”
According to Apartment List, Pittsburgh was the top metro for millennials in 2017 because of its high affordability, strong job growth and ample entertainment options. Over the past two years, the Pittsburgh metro also has earned accolades from Forbes and other media outlets as a great place for millennials to live.
In fact, there was a 2.3 percent increase in millennial household creation (those aged between 25 and 34) from 2012 to 2016, while U.S. millennial household creation declined 0.2 percent during that same time period, based on U.S. Census Bureau data.
Gross annual rental yields in the Pittsburgh metro are currently 11.3 percent for three-bedroom SFR properties, according to Roofstock research. However, Pittsburgh SFRs on Roofstock’s marketplace tend to have higher yields, with one portfolio offering investors first-year yields of 13 percent.
Roofstock’s unique real-estate-as-a-service model makes it easy for investors to evaluate and purchase SFR homes online, allowing them to confidently invest in real estate remotely. In fact, the majority of investors who use Roofstock.com to invest in real estate are located more than 1,000 miles away from their primary residence.
With the addition of Pittsburgh, Roofstock now has hundreds of cash-flowing SFR investment properties available in 25 markets around the country, with new homes listed daily. By year’s end, Roofstock expects to operate in more than 40 metros nationwide.
About Roofstock
Roofstock is the leading marketplace for investing in leased single-family rental (SFR) homes. The company provides all of the resources for individuals to buy, own and sell real estate online, including data analytics, property management oversight and other tools. Roofstock’s transparent, innovative marketplace empowers everyday investors to own cash-flowing SFRs, diversify their investment portfolios and build long-term wealth through real estate. In 2018, Roofstock reached a milestone with $1 billion in transactions closed on its marketplace and continues to expand its footprint, now offering SFRs for sale in 25 markets nationwide.
Media Contact
Stacey Corso
Senior Communications Manager, Roofstock
Email: scorso@roofstock.com
Phone: (510) 269-9209
