Scranton, PA—18512
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 $221,000, with a year-over-year change of 4.1%. This indicates that home prices in Scranton, PA are increasing. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $221,000 | 4.1% |
| Single Family | $221,000 | 2.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $183,000 | 1.1% |
3 Bed | $240,000 | 2.6% |
4 Bed | $268,000 | 1.9% |
| 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 $1,200, with a year-over-year rent change of -9.8%. Per bedroom, the median rent as of July '25 in Scranton, PA is studios: $500, 1-bedrooms: $1,040, 2-bedrooms: $1,270, 3-bedrooms: $1,350, 4-bedrooms: $1,720. The most common rental property sizes in Scranton, PA are 2-bedroom and 1-bedroom, accounting for 41.1% and 34.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,150 | $1,200 |
| Studio Rent | $500 | $500 |
| 1 Bed Rent | $1,000 | $1,040 |
| 2 Bed Rent | $1,250 | $1,270 |
| 3 Bed Rent | $1,280 | $1,350 |
| 4 Bed Rent | $1,500 | $1,720 |
% 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 30. This is a increase of 13.0% 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 17.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $249,000 | 4.0% |
Listing Count | 24 | 62.0% |
| Listings as % of Homes | 0.2% | 62.0% |
Days on Market | 30 | 13.0% |
Demographics — Scranton, PA
As of the latest ACS Survey released in 2023, Scranton, PA has a population of 12,700, which has increased by 5.9% over the past 5 years. Scranton, PA is a moderately popular place for families, as children make up 19.3% of the population. The area has a moderately educated workforce, with 29.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 12,700 | 5.9% |
% Under 18 | 19.3% | 1.6% |
% Seniors | 19.8% | -3.9% |
% WFH | 9.3% | 304.3% |
% w/ College Degree | 29.2% | -2.0% |
As of the latest ACS Survey released in 2023, Scranton, PA is a predominantly white area, with 87.9% of the population identifying as white. The white population has shrunk by 7.9% in the last 5 years. The second most common race or ethnicity in Scranton, PA is hispanic, making up 4.9% of the population. Foreign-born residents account for 5.2% of the population in Scranton, PA, and this percentage has increased by 160.0% 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 | 87.9% | -7.9% |
% Black | 1.1% | 83.3% |
% Hispanic | 4.9% | 145.0% |
% Asian | 3.7% | 825.0% |
% Foreign Born | 5.2% | 160.0% |
Mortgage and Risk — Scranton, PA
According to HUD data as of 2023, there were 203 mortgage originations in Scranton, PA, of which 73.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Scranton, PA. Investor activity is low, as 5.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 203 |
% Conventional Loans | 73.0% |
% Government Loans | 27.0% |
% Investor Loans | 5.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Scranton, PA
As of 2024, the percent of homes in Scranton, PA under the Section 8 program is 4.1%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 3-bedroom and 4-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 units do not.
Section 8 Market Size
Total Units under HUD | 289 |
Total Units Section 8 | 91 |
% Rentals under Section 8 | 4.1% |
% Occupied Section 8 | 84.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$120 | $1,000 | $880 |
| 2 Bedroom | -$180 | $1,250 | $1,070 |
| 3 Bedroom | $110 | $1,280 | $1,390 |
| 4 Bedroom | $20 | $1,500 | $1,520 |
Affordability — Scranton, PA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $221,000 |
| Median Household Income | $63,100 |