Scranton, Pennsylvania Housing Market Prices
Scranton Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 16% below the Pennsylvania median$128,457
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Median rent 13% below the Pennsylvania median$1,048
Housing Market Overview
| Metric | Scranton | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $128,457 | $152,469 | $248,835 |
| Price Trend (Annual %) | 6.3% | 3.7% | 7.5% |
| Median Gross Rent | $1,048 | $1,208 | $1,407 |
| Rent Trend (Annual %) | 4.9% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Scranton is about 16% lower than in Pennsylvania. Rent is about 13% lower than the Pennsylvania average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Scranton, up about 6.3% and 4.9% a year respectively. Home prices are changing faster.
Median rent in Scranton rose about 48.0% between 2015 and 2024, from $708 to $1,048. Over the same span, rent in Pennsylvania rose about 43.9%.
Affordability
On average, housing unit costs 2.5 yearly household incomes in Scranton.
Buying the median-priced home in Scranton costs roughly 10.2 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Scranton. The price-to-rent ratio in Pennsylvania is about 10.5.
| Metric | Scranton | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $128,457 | $152,469 | $248,835 |
| Median Household Income | $50,893 | $78,249 | $80,455 |
| Price-to-Income Ratio | 2.5 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Scranton rose about 52.2%, while median household income rose about 37.3% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Scranton | Pennsylvania Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 42.5% | 63.0% | 58.5% |
| Rental Rate | 42.7% | 27.9% | 31.2% |
| Vacancy Rate | 14.8% | 9.1% | 10.2% |
| Median Tenure (years) | 14.0 | 17.0 | 15.0 |
| Median Year Moved In | 2012 | 2009 | 2011 |
Scranton has a homeownership rate of 42.5%, lower than the Pennsylvania average of 63.0%. Its housing vacancy rate is 14.8%, compared with 9.1% in Pennsylvania.
Housing Stock
| Metric | Scranton | Pennsylvania Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.32 people | 2.39 people | 2.53 people |
| Median Structure Built Year | 1946 | 1966 | 1978 |
| Median Number of Rooms | 5.7 | 6.0 | 5.5 |
The typical housing unit in Scranton was built around 1946. On average, 2.3 people live in a home with about 5.7 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Scranton, Pennsylvania.
What is the median home price in Scranton, Pennsylvania?
The median home price in Scranton, Pennsylvania is $128,457, lower than the Pennsylvania average of $152,469.
What is the average home price in Scranton, Pennsylvania?
The typical home price in Scranton, Pennsylvania, reported as the median sale price, is $128,457. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Scranton, Pennsylvania?
The median gross rent in Scranton, Pennsylvania is $1,048 per month, lower than the Pennsylvania average of $1,208.
What was the median gross rent in Scranton in 2020?
In 2020, the median gross rent in Scranton, Pennsylvania was $794 per month.
What is the price-to-rent ratio in Scranton, Pennsylvania?
The price-to-rent ratio in Scranton, Pennsylvania is about 10.2, meaning it would take roughly 10.2 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Scranton.
Are home prices or rent rising faster in Scranton, Pennsylvania?
Both home prices and rent are rising in Scranton, up about 6.3% and 4.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Scranton, Pennsylvania?
42.5% of households in Scranton, Pennsylvania own their home, lower than the Pennsylvania average of 63.0%.
What is the vacancy rate in Scranton, Pennsylvania?
The housing vacancy rate in Scranton, Pennsylvania is 14.8%, higher than the Pennsylvania average of 9.1%.
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