Scranton, PA—18509
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 $209,000, with a year-over-year change of 15.3%. This indicates that home prices in Scranton, PA are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $209,000 | 15.3% |
| Single Family | $209,000 | 14.2% |
| 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 | $198,000 | 4.8% |
4 Bed | $244,000 | 5.2% |
| 5 Bed | $317,000 | 1.0% |
% of Housing Stock
Rental Trends — Scranton, PA
As of July '25, Rentcast reports the average rent in Scranton, PA is $1,340, with a year-over-year rent change of -14.6%. Per bedroom, the median rent as of July '25 in Scranton, PA is 1-bedrooms: $960, 2-bedrooms: $1,190, 3-bedrooms: $1,440, 4-bedrooms: $1,690. The most common rental property sizes in Scranton, PA are 1-bedroom and 2-bedroom, accounting for 35.0% and 33.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,250 | $1,340 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $990 | $960 |
| 2 Bed Rent | $1,150 | $1,190 |
| 3 Bed Rent | $1,340 | $1,440 |
| 4 Bed Rent | $1,450 | $1,690 |
% 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 51. This is a decrease of -12.0% 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 61.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $252,000 | -5.0% |
Listing Count | 23 | -1.0% |
| Listings as % of Homes | 0.3% | -1.0% |
Days on Market | 51 | -12.0% |
Demographics — Scranton, PA
As of the latest ACS Survey released in 2023, Scranton, PA has a population of 13,300, which has decreased by -3.5% over the past 5 years. Scranton, PA is a moderately popular place for families, as children make up 18.8% of the population. The area has a moderately educated workforce, with 28.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 13,300 | -3.5% |
% Under 18 | 18.8% | 3.3% |
% Seniors | 17.7% | 16.4% |
% WFH | 8.2% | 60.8% |
% w/ College Degree | 28.5% | -2.4% |
As of the latest ACS Survey released in 2023, Scranton, PA is a predominantly white area, with 77.3% of the population identifying as white. The white population has shrunk by 3.5% in the last 5 years. The second most common race or ethnicity in Scranton, PA is hispanic, making up 10.0% of the population. Foreign-born residents account for 6.9% of the population in Scranton, PA, and this percentage has increased by 21.1% 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 | 77.3% | -3.5% |
% Black | 8.5% | 39.3% |
% Hispanic | 10.0% | 17.6% |
% Asian | 1.4% | -53.3% |
% Foreign Born | 6.9% | 21.1% |
Mortgage and Risk — Scranton, PA
According to HUD data as of 2023, there were 114 mortgage originations in Scranton, PA, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 25.0% 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. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 114 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 7.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Scranton, PA
As of 2024, the percent of homes in Scranton, PA under the Section 8 program is 7.0%. 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 | 407 |
Total Units Section 8 | 219 |
% Rentals under Section 8 | 7.0% |
% Occupied Section 8 | 82.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$60 | $990 | $930 |
| 2 Bedroom | -$20 | $1,150 | $1,130 |
| 3 Bedroom | $130 | $1,340 | $1,470 |
| 4 Bedroom | $160 | $1,450 | $1,610 |
Affordability — Scranton, PA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $209,000 |
| Median Household Income | $52,200 |