2022 “STATE OF THE STRIP DISTRICT”

By the Numbers

OFFICE & EMPLOYMENT

11,245 workers

2.975M SF of rentable office space

1.26M SF of office space in the pipeline

Fringe Class A average asking rate: $29.25 per SF
(1Q 2022, CBRE)*

Fringe Class B average asking rate: $23.14 per SF
(1Q 2022, CBRE)*

HOUSING & POPULATION

2,571 residents

233% increase in residents since 2015
(310% since 2010)

1,862 residential units

1,649 residential units in the pipeline

Average rents:
Studio: $1,438
One-bedroom: $1,890
Two-bedroom: $2,674

$831,574 median sale price of a home

RETAIL & HOSPITALITY

2.5M annual visitors to the Penn Avenue Business
District (2021)

8 new businesses (2021–2022)

16 new businesses in the pipeline (2021–2022)

2 business closings (2021–2022)

427 hotel rooms

140 hotel rooms in the pipeline

TRANSPORTATION

5 Pittsburgh Regional Transit bus routes operate through the
Strip District

4,330 public off-street parking spaces

19,357 Spin scooter trips (July – Dec. 2021)

$12.67 average daily parking rate

$184 average monthly parking rate

Walk Score: 76 most errands can be accomplished by foot

Transit Score: 52 many nearby public transportation options

Bike Score: 89 biking convenient for most trips

VIEW COMPLETE SOSD REPORT