Scranton real estate in northeastern Pennsylvania sits at one of the most accessible price points on the East Coast, with a median home price of approximately $175,000. The Electric City's economy runs on healthcare (Geisinger and Scranton hospitals), distribution, éducation (University of Scranton, Marywood), and a growing work-from-home population attracted by the low cost of living and proximity to New York City — about two hours by car or bus. Remote worker in-migration has tightened inventory and supported steady price appreciation since 2020.
Scranton neighborhoods and landlord return data
Green Ridge and Hill Section are the more established residential neighborhoods, with well-maintained homes priced from $160,000 to $280,000. South Scranton and North Scranton offer older housing stock under $150,000 with higher investor activity. University of Scranton proximity drives student rental demand, and landlords near campus report gross yields of 10–13%. Long-term family rentals in stable blocks yield 8–11% gross.
Lackawanna County property taxes average 1.5–2.0% effective rate. Rénovation costs on Scranton's older frame and brick housing stock average $60–$100 per square foot. PHFA and local homebuyer assistance programs help first-time buyers cover down payment gaps. Buyers commuting to NYC should confirm commuter service availability, as bus routes to Manhattan exist but train service is limited.
