Scranton’s real estate market has been experiencing notable shifts, reflecting broader national trends while maintaining unique local characteristics.
Market Trends
As of March 2026, the median home value in Scranton stands at $181,950, marking a 2% increase over the past year. Homes typically go pending in around 16 days, indicating a brisk market pace. The median sale price is $170,333, with a median list price of $218,965. Notably, 31.8% of sales have been closing above the list price, underscoring competitive buyer interest. Source
Rental Market
The rental sector mirrors this activity, with the average rent in Scranton at $1,349 as of March 2026. This represents a 5.6% year-over-year increase, yet remains below the national average rent of $1,910. The month-over-month change is a modest 0.2%, suggesting a stable rental environment. Source
Local Developments
Scranton is witnessing a surge in real estate development, particularly in the downtown area. Companies like DFM Properties are revitalizing underutilized properties, transforming them into luxury apartments and functional commercial spaces. This trend not only enhances the city’s aesthetic appeal but also contributes to the vibrancy of the local economy. Source
In summary, Scranton’s real estate landscape is characterized by a dynamic market, a stable rental sector, and ongoing development projects that collectively contribute to the city’s growth and appeal.