Scranton’s housing market has been experiencing notable changes, reflecting broader national trends while maintaining unique local characteristics.
Current 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 about 16 days, indicating a brisk market pace. The median sale price is $170,333, with a median list price of $218,965, suggesting that buyers often negotiate below the asking price. Approximately 31.8% of sales are closing above the list price, while 58.8% are below, highlighting a competitive yet flexible market.
Rental Market Insights
The rental sector mirrors this dynamism. The average rent in Scranton is $1,349, which is below the national average of $1,910. This affordability makes Scranton an attractive option for renters seeking value. The rental market has seen a 5.6% year-over-year increase, indicating growing demand.
Local Developments
Local developers are actively contributing to Scranton’s growth. DFM Properties, for instance, focuses on revitalizing underutilized real estate, transforming them into high-end luxury apartments and functional commercial spaces. Their projects aim to preserve the city’s architectural heritage while meeting modern needs.
Additionally, the Scranton Housing Authority manages ten developments and forty-five scattered sites, totaling 1,244 rental units across the city. These properties offer a range of housing options, including high-rise buildings, townhomes, duplexes, and single-family homes, catering to diverse community needs.
Conclusion
Scranton’s housing market presents opportunities for both buyers and renters. With rising home values and a competitive rental market, staying informed about local trends and developments is essential for making informed decisions in this evolving landscape.