Scranton, Pennsylvania, is experiencing a dynamic shift in its economic landscape, marked by significant developments in housing, healthcare, and local business sectors.
Housing Market Trends
The housing market in Scranton has shown notable activity. As of March 2026, the median sale price of homes reached $215,500, reflecting a 7.8% increase compared to the previous year. Homes are selling after an average of 25 days on the market, indicating a competitive environment for buyers and sellers alike.
Healthcare Sector Developments
The healthcare industry in Scranton has seen substantial changes. In February 2026, Tenor Health Foundation acquired three local hospitals: the 186-bed Regional Hospital of Scranton, the 122-bed Moses Taylor Hospital in Scranton, and the 369-bed Wilkes-Barre General Hospital. This acquisition is expected to bring new investments and improvements to the region’s healthcare services.
Local Business Expansion
Local businesses are also contributing to Scranton’s economic vitality. Bailey’s Cafe & Events, originally based in Dalton, expanded its operations by opening a second location in downtown Scranton in August 2025. Situated at 400 Wyoming Ave, the new cafe offers a variety of baked goods, quiches, salads, and sandwiches, catering to both residents and the student population from nearby universities.
Educational Investments
In the realm of education, Lackawanna College has partnered with local developer John Basalyga to revitalize a long-vacant building at 401 Adams Ave. This redevelopment will house health sciences programs and serve as a gateway to the college campus, enhancing educational opportunities and contributing to downtown revitalization efforts.
These developments underscore Scranton’s ongoing economic transformation, reflecting a community that is adapting and growing in response to various challenges and opportunities.