Wilkes-Barre, PA—18702
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 $167,000, with a year-over-year change of 8.3%. This indicates that home prices in Wilkes-Barre, PA are increasing. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $167,000 | 8.3% |
| Single Family | $167,000 | 8.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $131,000 | 11.0% |
3 Bed | $166,000 | 9.9% |
4 Bed | $217,000 | 8.0% |
| 5 Bed | $210,000 | 11.1% |
% of Housing Stock
Rental Trends — Wilkes-Barre, PA
As of July '25, Rentcast reports the average rent in Wilkes-Barre, PA is $1,340, with a year-over-year rent change of -2.2%. Per bedroom, the median rent as of July '25 in Wilkes-Barre, PA is studios: $1,260, 1-bedrooms: $1,130, 2-bedrooms: $1,310, 3-bedrooms: $1,460, 4-bedrooms: $1,860. The most common rental property sizes in Wilkes-Barre, PA are 3-bedroom and 1-bedroom, accounting for 32.1% and 25.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,300 | $1,340 |
| Studio Rent | $1,020 | $1,260 |
| 1 Bed Rent | $950 | $1,130 |
| 2 Bed Rent | $1,200 | $1,310 |
| 3 Bed Rent | $1,450 | $1,460 |
| 4 Bed Rent | $1,850 | $1,860 |
% 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 49. This is a increase of 17.0% 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 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $181,000 | 1.0% |
Listing Count | 75 | 5.0% |
| Listings as % of Homes | 0.2% | 5.0% |
Days on Market | 49 | 17.0% |
Demographics — Wilkes-Barre, PA
As of the latest ACS Survey released in 2023, Wilkes-Barre, PA has a population of 42,100, which has increased by 5.7% over the past 5 years. Wilkes-Barre, PA is a moderately popular place for families, as children make up 21.5% of the population. The area has a poorly educated workforce, with 23.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 42,100 | 5.7% |
% Under 18 | 21.5% | -5.7% |
% Seniors | 17.4% | -0.6% |
% WFH | 8.5% | 88.9% |
% w/ College Degree | 23.0% | 22.3% |
As of the latest ACS Survey released in 2023, Wilkes-Barre, PA is a predominantly white area, with 58.2% of the population identifying as white. The white population has shrunk by 10.7% in the last 5 years. The second most common race or ethnicity in Wilkes-Barre, PA is hispanic, making up 24.7% of the population. Foreign-born residents account for 12.7% of the population in Wilkes-Barre, PA, and this percentage has increased by 47.7% 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 | 58.2% | -10.7% |
% Black | 13.8% | 6.2% |
% Hispanic | 24.7% | 43.6% |
% Asian | 2.2% | -8.3% |
% Foreign Born | 12.7% | 47.7% |
Mortgage and Risk — Wilkes-Barre, PA
According to HUD data as of 2023, there were 462 mortgage originations in Wilkes-Barre, PA, of which 72.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 37.0% above 90% LTV (very high). This implies large mortgage risk in Wilkes-Barre, PA. Investor activity is low, as 3.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 462 |
% Conventional Loans | 72.0% |
% Government Loans | 28.0% |
% Investor Loans | 3.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 12.0% |
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 21.4%. 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 | 2,432 |
Total Units Section 8 | 1,562 |
% Rentals under Section 8 | 21.4% |
% Occupied Section 8 | 74.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$30 | $950 | $920 |
| 2 Bedroom | -$90 | $1,200 | $1,110 |
| 3 Bedroom | $0 | $1,450 | $1,450 |
| 4 Bedroom | -$270 | $1,850 | $1,580 |
Affordability — Wilkes-Barre, PA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.4 |
| Median Home Price | $167,000 |
| Median Household Income | $54,900 |