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Scranton, PA mortgage & affordability calculator

The typical home in Scranton, PA is worth about $200,000. With 20% down that's a loan near $160,000 — the calculator is pre-filled with that figure. Scranton has some of the lowest home prices of any Northeastern metro, a legacy of the coal industry's decline decades ago, though a distribution-center boom along the I-81 corridor has brought new jobs and modest price growth. School-district property taxes vary widely between the city and the surrounding Lackawanna County townships.

$1,038.82 / month

Total interest
$213,976
Total paid
$373,976
Payoff
30.0 years
Balance over YearBalance ends near $0 at 30.$0$40k$80k$120k$160k0612182430Year

How much you need to earn

Scranton, PA's median household income is about $58,000 a year. Under standard 28/36 lending rules that supports a home price around $188,117 with 20% down — below the $200,000 typical price, so many buyers need a larger down payment, a co-borrower, or a longer commute.

$188,051 max home price

Max loan amount
$148,051
Housing payment budget
$1,353
P&I budget
$961
Bound by
front-end ratio

Uses the 28% front-end / 36% back-end DTI guidelines. Lenders vary.

Typical asking rent in Scranton, PA is about $1,200 a month, so owning the median home costs roughly $230 more per month before tax effects, maintenance, and any change in home value.

Frequently asked questions

What is a typical mortgage payment in Scranton, PA?
On the metro's roughly $200,000 typical home with 20% down, the loan is about $160,000. Principal and interest run near $1,039 a month at today's rate, and Scranton, PA's property tax plus insurance add about $392, for a full payment near $1,430.
Can I afford a home in Scranton, PA on the median income?
The median household income is about $58,000 a year. Under standard 28/36 lending rules that supports a home price around $188,117 with 20% down — below the $200,000 typical price, so buyers often need a larger down payment or a co-borrower.
Is it cheaper to rent or buy in Scranton, PA?
Typical asking rent is about $1,200 a month. The full owner payment on a median home is near $1,430, so owning costs roughly $230 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Scranton, PA?
The effective property tax rate in the core county is about 1.70% of market value — roughly $3,400 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Scranton, PA rising or falling?
Home values are up about 6% over the past year. Scranton has some of the lowest home prices of any Northeastern metro, a legacy of the coal industry's decline decades ago, though a distribution-center boom along the I-81 corridor has brought new jobs and modest price growth. School-district property taxes vary widely between the city and the surrounding Lackawanna County townships.

Nearby metros

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