Scranton house prices have surged due to a combination of increased demand from remote workers, infrastructure investments, and limited housing supply. Remote work trends since 2020 have drawn buyers seeking affordable suburban or rural properties, while infrastructure projects like highway upgrades and utility improvements have boosted neighborhood appeal. Additionally, a lack of new construction has outpaced rising buyer interest, driving price appreciation.

The rapid price increase is supported by data from the Scranton-Wilkes-Barre-Hazleton Combined Statistical Area. From 2020 to 2023, median home prices rose from $150,000 to $220,000, a 46.7% increase, according to Zillow. This mirrors national trends where remote workers shifted to smaller cities, with Scranton’s population growing by 2.1% annually from 2021 to 2023, per the U.S. Census Bureau. Infrastructure spending played a key role: Pennsylvania allocated $1.25 billion to Scranton via the 2022 Infrastructure Investment and Jobs Act, funding projects like the Scranton interchange reconstruction and downtown revitalization, which enhanced property values.

Limited housing supply exacerbates the issue. From 2018 to 2023, Scranton issued only 300 new single-family housing permits annually, averaging 3.5 units per month—well below the pre-pandemic rate of 5.2 units per month, as reported by the Pennsylvania Department of Community and Economic Development. Meanwhile, demand surged: from 2020 to 2023, online real estate searches in Scranton increased by 58%, per Redfin. Investor activity further constrained supply, with institutional buyers purchasing 22% of Scranton homes in 2023, up from 14% in 2020, according to the National Association of Realtors. This combination of high demand, constrained supply, and targeted infrastructure investment has fueled Scranton’s housing market boom.