Wilkes-Barre, PA—18701
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Wilkes-Barre, PA
As of Oct '25, the median home price in Wilkes-Barre, PA is $177,000, with a year-over-year change of 10.3%. This indicates that home prices in Wilkes-Barre, PA are increasing. According to Zillow, the 1-year price projection is 2.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $177,000 | 10.3% |
| Single Family | $173,000 | 13.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Wilkes-Barre, PA
As of July '25, Rentcast reports the average rent in Wilkes-Barre, PA is $1,410, with a year-over-year rent change of -13.0%. Per bedroom, the median rent as of July '25 in Wilkes-Barre, PA is studios: $885, 1-bedrooms: $1,070, 2-bedrooms: $1,230, 3-bedrooms: $1,780, 4-bedrooms: $1,710. The most common rental property sizes in Wilkes-Barre, PA are 1-bedroom and studio, accounting for 51.6% and 22.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,260 | $1,410 |
| Studio Rent | $845 | $885 |
| 1 Bed Rent | $875 | $1,070 |
| 2 Bed Rent | $1,100 | $1,230 |
| 3 Bed Rent | $1,750 | $1,780 |
| 4 Bed Rent | $1,500 | $1,710 |
% of Rental Stock
Property Listings — Wilkes-Barre, PA
As of Oct '25, Realtor.com reports that the median days on market for a home in Wilkes-Barre, PA is 51. This is a increase of 100.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $240,000 | 90.0% |
Listing Count | 3 | 0.0% |
| Listings as % of Homes | 0.2% | 0.0% |
Days on Market | 51 | 100.0% |
Demographics — Wilkes-Barre, PA
As of the latest ACS Survey released in 2023, Wilkes-Barre, PA has a population of 3,930, which has increased by 11.3% over the past 5 years. Wilkes-Barre, PA is a less popular place for families, as children make up 2.0% of the population. The area has a moderately educated workforce, with 25.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,930 | 11.3% |
% Under 18 | 2.0% | -33.3% |
% Seniors | 18.2% | -5.2% |
% WFH | 16.2% | -25.3% |
% w/ College Degree | 25.0% | -16.1% |
As of the latest ACS Survey released in 2023, Wilkes-Barre, PA is a predominantly white area, with 69.4% of the population identifying as white. The white population has shrunk by 12.6% in the last 5 years. The second most common race or ethnicity in Wilkes-Barre, PA is hispanic, making up 14.3% of the population. Foreign-born residents account for 8.7% of the population in Wilkes-Barre, PA, and this percentage has increased by 67.3% 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 | 69.4% | -12.6% |
% Black | 9.9% | 13.8% |
% Hispanic | 14.3% | 76.5% |
% Asian | 3.0% | 7.1% |
% Foreign Born | 8.7% | 67.3% |
Mortgage and Risk — Wilkes-Barre, PA
According to HUD data as of 2023, there were 2 mortgage originations in Wilkes-Barre, PA, of which 50.0% of loans were conventional mortgages. The average loan-to-value was 89.0%, with 50.0% above 90% LTV (very high). This implies large mortgage risk in Wilkes-Barre, PA. Investor activity is low, as 0.0% of loans were by investors. 0.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 2 |
% Conventional Loans | 50.0% |
% Government Loans | 50.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 0.0% |
Loan Activity
Rentals and Section 8 — Wilkes-Barre, PA
As of 2024, the percent of homes in Wilkes-Barre, PA under the Section 8 program is 24.7%. 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. In Wilkes-Barre, PA, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 250 |
Total Units Section 8 | 250 |
% Rentals under Section 8 | 24.7% |
% Occupied Section 8 | 86.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$45 | $875 | $830 |
| 2 Bedroom | -$100 | $1,100 | $1,000 |
| 3 Bedroom | -$450 | $1,750 | $1,300 |
| 4 Bedroom | -$80 | $1,500 | $1,420 |
Affordability — Wilkes-Barre, PA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.1 |
| Median Home Price | $177,000 |
| Median Household Income | $32,400 |