Scranton, PA—18508
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 $164,000, with a year-over-year change of 7.9%. This indicates that home prices in Scranton, PA are increasing. According to Zillow, the 1-year price projection is 2.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $164,000 | 7.9% |
| Single Family | $165,000 | 5.8% |
| Condos | $130,000 | -10.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $149,000 | 5.7% |
3 Bed | $168,000 | 4.3% |
4 Bed | $189,000 | 3.8% |
| 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 $1,280, with a year-over-year rent change of 10.3%. Per bedroom, the median rent as of July '25 in Scranton, PA is 1-bedrooms: $1,070, 2-bedrooms: $1,160, 3-bedrooms: $1,340, 4-bedrooms: $1,760. The most common rental property sizes in Scranton, PA are 2-bedroom and 3-bedroom, accounting for 38.5% and 33.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,250 | $1,280 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $995 | $1,070 |
| 2 Bed Rent | $1,200 | $1,160 |
| 3 Bed Rent | $1,300 | $1,340 |
| 4 Bed Rent | $1,850 | $1,760 |
% 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 59. This is a increase of 10.0% 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 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $162,000 | -4.0% |
Listing Count | 40 | 102.0% |
| Listings as % of Homes | 0.3% | 102.0% |
Days on Market | 59 | 10.0% |
Demographics — Scranton, PA
As of the latest ACS Survey released in 2023, Scranton, PA has a population of 11,300, which has decreased by -13.9% over the past 5 years. Scranton, PA is a moderately popular place for families, as children make up 20.6% of the population. The area has a poorly educated workforce, with 18.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 11,300 | -13.9% |
% Under 18 | 20.6% | -18.3% |
% Seniors | 19.3% | 3.2% |
% WFH | 11.3% | 769.2% |
% w/ College Degree | 18.2% | 12.3% |
As of the latest ACS Survey released in 2023, Scranton, PA is a predominantly white area, with 72.3% of the population identifying as white. The white population has grown by 2.1% in the last 5 years. The second most common race or ethnicity in Scranton, PA is hispanic, making up 17.2% of the population. Foreign-born residents account for 4.8% of the population in Scranton, PA, and this percentage has decreased by 44.2% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 72.3% | 2.1% |
% Black | 7.7% | 102.6% |
% Hispanic | 17.2% | -13.6% |
% Asian | 0.4% | -86.7% |
% Foreign Born | 4.8% | -44.2% |
Mortgage and Risk — Scranton, PA
According to HUD data as of 2023, there were 130 mortgage originations in Scranton, PA, of which 72.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 41.0% above 90% LTV (very high). This implies large mortgage risk in Scranton, PA. Investor activity is low, as 6.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 130 |
% Conventional Loans | 72.0% |
% Government Loans | 28.0% |
% Investor Loans | 6.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Scranton, PA
As of 2024, the percent of homes in Scranton, PA under the Section 8 program is 20.7%. 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 | 634 |
Total Units Section 8 | 481 |
% Rentals under Section 8 | 20.7% |
% Occupied Section 8 | 90.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$15 | $995 | $980 |
| 2 Bedroom | -$20 | $1,200 | $1,180 |
| 3 Bedroom | $240 | $1,300 | $1,540 |
| 4 Bedroom | -$170 | $1,850 | $1,680 |
Affordability — Scranton, PA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $164,000 |
| Median Household Income | $44,700 |