Total monthly cost of ownership
Cost to Own a Home in Scranton, Pennsylvania
A $142,000 home here costs
$1,438per month, all in, with 20% down at today's 7.32% 30-year fixed rate. By the 28% rule that takes a household income of about $61,500 a year.
A standard mortgage calculator would have told you $780. The real number is $658 higher every month, 84% more than the payment most buyers budget for.
Compare Lackawanna County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Scranton against Lackawanna County and Pennsylvania
| Measure | Scranton | Lackawanna County |
|---|---|---|
| Median home value | $141,700 | $189,900 |
| Median property tax | $2,952 | $2,910 |
| Effective tax rate | 2.083% | 1.532% |
| Median gross rent | $991 | $973 |
| Population | 76,074 | 215,834 |
The weather behind that power bill
Scranton sits in Lackawanna County, which averages a high of 84.6°F in its hottest month and a low of 20.3°F in its coldest, with 38.72" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 791 cooling and 5,740 heating degree days, which is what sets the $177 electricity line above.
See the full climate breakdown for Lackawanna County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lackawanna County
Full Lackawanna County cost breakdown · Every county in Pennsylvania
Talk to someone who works this market
These are Scranton averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Scranton every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Scranton I already own here and may sell
Common questions
How much does it cost to own a home in Scranton?
A $142,000 home in Scranton, Pennsylvania costs approximately $1,438 per month with 20% down at 7.32%. That is $780 principal and interest, $246 property tax, $47 homeowners insurance, $245 utilities and $118 set aside for maintenance.
What is the property tax rate in Scranton?
Scranton has an effective property tax rate of 2.083%, based on a median home value of $141,700 and median real estate taxes of $2,952. That is higher than the Lackawanna County average of 1.532%.
What is the average home price in Scranton?
The median owner-occupied home value in Scranton, Pennsylvania is $141,700, against $189,900 across Lackawanna County.
Is it cheaper to rent or buy in Scranton?
Median gross rent in Scranton is $991 a month, against $1,438 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Scranton?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Scranton, Pennsylvania at today's rate takes a household income of roughly $61,500 a year. That covers the full $1,438 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Scranton, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Pennsylvania.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.