Scranton, PA—18504
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 $188,000, with a year-over-year change of 13.1%. This indicates that home prices in Scranton, PA are increasing. According to Zillow, the 1-year price projection is 2.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $188,000 | 13.1% |
| Single Family | $188,000 | 11.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $156,000 | 7.6% |
3 Bed | $191,000 | 6.7% |
4 Bed | $224,000 | 5.2% |
| 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 $1,250, with a year-over-year rent change of 0.8%. Per bedroom, the median rent as of July '25 in Scranton, PA is 1-bedrooms: $885, 2-bedrooms: $1,110, 3-bedrooms: $1,480, 4-bedrooms: $1,460. The most common rental property sizes in Scranton, PA are 2-bedroom and 3-bedroom, accounting for 37.4% and 36.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,250 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $900 | $885 |
| 2 Bed Rent | $1,100 | $1,110 |
| 3 Bed Rent | $1,400 | $1,480 |
| 4 Bed Rent | $1,500 | $1,460 |
% 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 65. This is a increase of 59.0% 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 | $220,000 | 17.0% |
Listing Count | 62 | 14.0% |
| Listings as % of Homes | 0.4% | 14.0% |
Days on Market | 65 | 59.0% |
Demographics — Scranton, PA
As of the latest ACS Survey released in 2023, Scranton, PA has a population of 20,600, which has remained stable by 0.2% over the past 5 years. Scranton, PA is a moderately popular place for families, as children make up 24.1% of the population. The area has a poorly educated workforce, with 20.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 20,600 | 0.2% |
% Under 18 | 24.1% | 14.2% |
% Seniors | 18.6% | 14.8% |
% WFH | 6.9% | 155.6% |
% w/ College Degree | 20.1% | 14.2% |
As of the latest ACS Survey released in 2023, Scranton, PA is a predominantly white area, with 72.2% of the population identifying as white. The white population has shrunk by 11.6% in the last 5 years. The second most common race or ethnicity in Scranton, PA is hispanic, making up 17.9% of the population. Foreign-born residents account for 7.0% of the population in Scranton, PA, and this percentage has decreased by 6.7% 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 | 72.2% | -11.6% |
% Black | 3.0% | -16.7% |
% Hispanic | 17.9% | 50.4% |
% Asian | 2.4% | 200.0% |
% Foreign Born | 7.0% | -6.7% |
Mortgage and Risk — Scranton, PA
According to HUD data as of 2023, there were 271 mortgage originations in Scranton, PA, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Scranton, PA. Investor activity is low, as 7.0% 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 | 271 |
% Conventional Loans | 74.0% |
% Government Loans | 26.0% |
% Investor Loans | 7.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Scranton, PA
As of 2024, the percent of homes in Scranton, PA under the Section 8 program is 10.3%. 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. 1-bedroom and 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 2-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 640 |
Total Units Section 8 | 338 |
% Rentals under Section 8 | 10.3% |
% Occupied Section 8 | 71.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $10 | $900 | $910 |
| 2 Bedroom | $0 | $1,100 | $1,100 |
| 3 Bedroom | $30 | $1,400 | $1,430 |
| 4 Bedroom | $60 | $1,500 | $1,560 |
Affordability — Scranton, PA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $188,000 |
| Median Household Income | $52,500 |