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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Scranton, PA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Scranton, PA Housing Market Trends

With a population of 75,848, 29,947 total housing units (homes and apartments), and a median house value of $165,741, house prices in Scranton are solidly below the national average.

Single-family detached homes are the single most common housing type in Scranton, accounting for 47.82% of the city's housing units. Other types of housing that are prevalent in Scranton include duplexes, homes converted to apartments or other small apartment buildings ( 24.68%), large apartment complexes or high rise apartments ( 14.89%), and a few row houses and other attached homes ( 12.40%).

The most prevalent building size and type in Scranton are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 46.65% owning and 53.35% renting.

The housing in Scranton was primarily built before 1939 ( 52.96%), making the housing stock in Scranton some of the oldest overall in America, although there is a range of ages of homes in Scranton. The next most important housing age is between 1940-1969 ( 26.05%), followed by between 1970-1999 ( 16.06%). There's also some housing in Scranton built between 2000 and later ( 4.93%).

Vacant housing appears to be an issue in Scranton. Fully 14.65% of the housing stock is classified as vacant. Left unchecked, vacant Scranton homes and apartments can be a drag on the real estate market, holding Scranton real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Scranton Home Appreciation Rates

Scranton's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Scranton during the period has been just 5.21%, which is lower than 80% of US communities.

Appreciation rates are so strong in Scranton that despite a nationwide downturn in the housing market, Scranton real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Scranton appreciation rates continue to be some of the highest in America, at 10.90%, which is higher than appreciation rates in 90.80% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Scranton. Scranton appreciation rates in the latest quarter were at 6.05%, which equates to an annual appreciation rate of 26.51%.

Importantly, NeighborhoodScout’s exclusive research found that Scranton's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to Pennsylvania, our data show that Scranton's latest annual appreciation rate is higher than 90% of the other cities and towns in Pennsylvania.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Scranton differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Scranton - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Scranton real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$165,741

Scranton, PA Home Prices
> $1,414,000
$1,061,001 - $1,414,000
$707,001 - $1,061,000
$566,001 - $707,000
$425,001 - $566,000
$283,001 - $425,000
$142,001 - $283,000
$71,001 - $142,000
$0 - $71,000
0.1%
0.1%
0.7%
0.7%
0.8%
0.8%
1.9%
1.9%
2.6%
2.6%
10.6%
10.6%
47.8%
47.8%
30.4%
30.4%
5.2%
5.2%
0% 100.0%
% of Homes
Low

for Pennsylvania

Very Low

for nation

Number of Homes And Apartments:

29,947

Scranton Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,569 / per month

Homeownership Rate

Owners
Renters
46.7%
46.7%
53.3%
53.3%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
14.6%
14.6%
85.4%
85.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
4.9%
4.9%
16.1%
16.1%
26.1%
26.1%
53.0%
53.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
47.8%
47.8%
12.4%
12.4%
24.7%
24.7%
14.9%
14.9%
0.2%
0.2%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.6%
2.6%
15.8%
15.8%
25.1%
25.1%
39.9%
39.9%
11.7%
11.7%
4.8%
4.8%
0% 100.0%
% of Homes