Wilkes-Barre, Pennsylvania Housing Market Prices
Wilkes-Barre 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 20% below the Pennsylvania median$121,837
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Median rent 22% below the Pennsylvania median$948
Housing Market Overview
| Metric | Wilkes-Barre | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $121,837 | $152,469 | $248,835 |
| Price Trend (Annual %) | 10.6% | 3.7% | 7.5% |
| Median Gross Rent | $948 | $1,208 | $1,407 |
| Rent Trend (Annual %) | 4.4% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Wilkes-Barre is about 20% lower than in Pennsylvania. Rent is about 22% 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 Wilkes-Barre, up about 10.6% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Wilkes-Barre rose about 42.8% between 2015 and 2024, from $664 to $948. Over the same span, rent in Pennsylvania rose about 43.9%.
Affordability
On average, housing unit costs 2.5 yearly household incomes in Wilkes-Barre.
Buying the median-priced home in Wilkes-Barre costs roughly 10.7 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 Wilkes-Barre. The price-to-rent ratio in Pennsylvania is about 10.5.
| Metric | Wilkes-Barre | Pennsylvania Avg | US Average |
|---|---|---|---|
| Median Home Price | $121,837 | $152,469 | $248,835 |
| Median Household Income | $48,741 | $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 Wilkes-Barre rose about 64.6%, while median household income rose about 61.4% 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 | Wilkes-Barre | Pennsylvania Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 43.1% | 63.0% | 58.5% |
| Rental Rate | 40.9% | 27.9% | 31.2% |
| Vacancy Rate | 15.9% | 9.1% | 10.2% |
| Median Tenure (years) | 13.0 | 17.0 | 15.0 |
| Median Year Moved In | 2013 | 2009 | 2011 |
Wilkes-Barre has a homeownership rate of 43.1%, lower than the Pennsylvania average of 63.0%. Its housing vacancy rate is 15.9%, compared with 9.1% in Pennsylvania.
Housing Stock
| Metric | Wilkes-Barre | Pennsylvania Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.42 people | 2.39 people | 2.53 people |
| Median Structure Built Year | 1948 | 1966 | 1978 |
| Median Number of Rooms | 5.7 | 6.0 | 5.5 |
The typical housing unit in Wilkes-Barre was built around 1948. On average, 2.4 people live in a home with about 5.7 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Wilkes-Barre, Pennsylvania.
What is the median home price in Wilkes-Barre, Pennsylvania?
The median home price in Wilkes-Barre, Pennsylvania is $121,837, lower than the Pennsylvania average of $152,469.
What is the average home price in Wilkes-Barre, Pennsylvania?
The typical home price in Wilkes-Barre, Pennsylvania, reported as the median sale price, is $121,837. 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 Wilkes-Barre, Pennsylvania?
The median gross rent in Wilkes-Barre, Pennsylvania is $948 per month, lower than the Pennsylvania average of $1,208.
What was the median gross rent in Wilkes-Barre in 2020?
In 2020, the median gross rent in Wilkes-Barre, Pennsylvania was $759 per month.
What is the price-to-rent ratio in Wilkes-Barre, Pennsylvania?
The price-to-rent ratio in Wilkes-Barre, Pennsylvania is about 10.7, meaning it would take roughly 10.7 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 Wilkes-Barre.
Are home prices or rent rising faster in Wilkes-Barre, Pennsylvania?
Both home prices and rent are rising in Wilkes-Barre, up about 10.6% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Wilkes-Barre, Pennsylvania?
43.1% of households in Wilkes-Barre, Pennsylvania own their home, lower than the Pennsylvania average of 63.0%.
What is the vacancy rate in Wilkes-Barre, Pennsylvania?
The housing vacancy rate in Wilkes-Barre, Pennsylvania is 15.9%, higher than the Pennsylvania average of 9.1%.
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