Scranton, PA—18505
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Scranton, PA
As of Oct '25, the median home price in Scranton, PA is $189,000, with a year-over-year change of 12.0%. This indicates that home prices in Scranton, PA are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $189,000 | 12.0% |
| Single Family | $189,000 | 11.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $152,000 | 8.6% |
3 Bed | $199,000 | 7.0% |
4 Bed | $222,000 | 6.2% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Scranton, PA
As of July '25, Rentcast reports the average rent in Scranton, PA is $1,270, with a year-over-year rent change of 5.8%. Per bedroom, the median rent as of July '25 in Scranton, PA is studios: $750, 1-bedrooms: $946, 2-bedrooms: $1,150, 3-bedrooms: $1,480, 4-bedrooms: $1,630. The most common rental property sizes in Scranton, PA are 2-bedroom and 3-bedroom, accounting for 35.3% and 28.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,270 |
| Studio Rent | $750 | $750 |
| 1 Bed Rent | $900 | $946 |
| 2 Bed Rent | $1,100 | $1,150 |
| 3 Bed Rent | $1,400 | $1,480 |
| 4 Bed Rent | $1,650 | $1,630 |
% of Rental Stock
Property Listings — Scranton, PA
As of Oct '25, Realtor.com reports that the median days on market for a home in Scranton, PA is 69. This is a increase of 28.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $204,000 | -1.0% |
Listing Count | 56 | 47.0% |
| Listings as % of Homes | 0.5% | 47.0% |
Days on Market | 69 | 28.0% |
Demographics — Scranton, PA
As of the latest ACS Survey released in 2023, Scranton, PA has a population of 21,400, which has increased by 3.9% over the past 5 years. Scranton, PA is a moderately popular place for families, as children make up 23.2% of the population. The area has a moderately educated workforce, with 25.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 21,400 | 3.9% |
% Under 18 | 23.2% | 0.9% |
% Seniors | 18.8% | 8.7% |
% WFH | 9.8% | 237.9% |
% w/ College Degree | 25.8% | 3.2% |
As of the latest ACS Survey released in 2023, Scranton, PA is a predominantly white area, with 61.6% of the population identifying as white. The white population has shrunk by 8.1% in the last 5 years. The second most common race or ethnicity in Scranton, PA is hispanic, making up 20.2% of the population. Foreign-born residents account for 13.6% of the population in Scranton, PA, and this percentage has increased by 8.8% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 61.6% | -8.1% |
% Black | 6.8% | -5.6% |
% Hispanic | 20.2% | 10.4% |
% Asian | 6.1% | -9.0% |
% Foreign Born | 13.6% | 8.8% |
Mortgage and Risk — Scranton, PA
According to HUD data as of 2023, there were 229 mortgage originations in Scranton, PA, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Scranton, PA. Investor activity is low, as 7.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 229 |
% Conventional Loans | 74.0% |
% Government Loans | 26.0% |
% Investor Loans | 7.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Scranton, PA
As of 2024, the percent of homes in Scranton, PA under the Section 8 program is 17.9%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Scranton, PA, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,166 |
Total Units Section 8 | 681 |
% Rentals under Section 8 | 17.9% |
% Occupied Section 8 | 84.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$10 | $900 | $890 |
| 2 Bedroom | -$20 | $1,100 | $1,080 |
| 3 Bedroom | $10 | $1,400 | $1,410 |
| 4 Bedroom | -$110 | $1,650 | $1,540 |
Affordability — Scranton, PA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $189,000 |
| Median Household Income | $52,600 |