Wilkes-Barre, PA—18706
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 $174,000, with a year-over-year change of 5.6%. This indicates that home prices in Wilkes-Barre, PA are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $174,000 | 5.6% |
| Single Family | $174,000 | 5.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $157,000 | 4.7% |
3 Bed | $179,000 | 6.5% |
4 Bed | $228,000 | 6.0% |
| 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 $1,270, with a year-over-year rent change of 6.7%. Per bedroom, the median rent as of July '25 in Wilkes-Barre, PA is studios: $790, 1-bedrooms: $1,000, 2-bedrooms: $1,120, 3-bedrooms: $1,470, 4-bedrooms: $1,650. The most common rental property sizes in Wilkes-Barre, PA are 2-bedroom and 3-bedroom, accounting for 36.9% and 34.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,250 | $1,270 |
| Studio Rent | $790 | $790 |
| 1 Bed Rent | $875 | $1,000 |
| 2 Bed Rent | $1,100 | $1,120 |
| 3 Bed Rent | $1,500 | $1,470 |
| 4 Bed Rent | $1,650 | $1,650 |
% 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 37. This is a decrease of -6.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 19.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $196,000 | 25.0% |
Listing Count | 31 | -15.0% |
| Listings as % of Homes | 0.3% | -15.0% |
Days on Market | 37 | -6.0% |
Demographics — Wilkes-Barre, PA
As of the latest ACS Survey released in 2023, Wilkes-Barre, PA has a population of 16,300, which has increased by 2.6% over the past 5 years. Wilkes-Barre, PA is a moderately popular place for families, as children make up 23.6% of the population. The area has a poorly educated workforce, with 20.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 16,300 | 2.6% |
% Under 18 | 23.6% | 19.2% |
% Seniors | 18.7% | 0.5% |
% WFH | 10.9% | 263.3% |
% w/ College Degree | 20.3% | 9.7% |
As of the latest ACS Survey released in 2023, Wilkes-Barre, PA is a predominantly white area, with 75.5% of the population identifying as white. The white population has shrunk by 15.4% in the last 5 years. The second most common race or ethnicity in Wilkes-Barre, PA is hispanic, making up 17.5% of the population. Foreign-born residents account for 5.7% of the population in Wilkes-Barre, PA, and this percentage has increased by 159.1% 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 | 75.5% | -15.4% |
% Black | 3.6% | 89.5% |
% Hispanic | 17.5% | 201.7% |
% Asian | 0.3% | -83.3% |
% Foreign Born | 5.7% | 159.1% |
Mortgage and Risk — Wilkes-Barre, PA
According to HUD data as of 2023, there were 224 mortgage originations in Wilkes-Barre, PA, of which 70.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, 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 | 224 |
% Conventional Loans | 70.0% |
% Government Loans | 30.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% 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 22.2%. 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 | 676 |
Total Units Section 8 | 483 |
% Rentals under Section 8 | 22.2% |
% Occupied Section 8 | 89.0% |
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 | -$200 | $1,500 | $1,300 |
| 4 Bedroom | -$230 | $1,650 | $1,420 |
Affordability — Wilkes-Barre, PA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $174,000 |
| Median Household Income | $57,500 |