Rent to own Homes in Scranton, PA
A burgeoning iron and steel industry helped Scranton grow rapidly in the mid 19th century and this industrial strength helped its population swell to over 140,000 in the 1930s. The decades that followed saw a decline in Scranton, but since the 1980s the city's rich history has been marketed to bring in tourists, with attractions such as the Steamtown National History Site and the Electric City Trolley Museum. Notable past and current residents include current Vice President Joe Biden and Jason Miller, a Pulitzer Prize and Tony Award winning playwright.
Scranton, PA is a great place for affordable rent-to-own homes! With a median household income of over $41,687 and a median rent of $795, the Scranton, PA rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Scranton, PA. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
More Scranton, PA Property Resources
Rent to own Homes in Cities Near Scranton, PA
- Archbald
- Ashley
- Avoca
- Bear Creek Village
- Big Bass Lake
- Blakely
- Browntown
- Carbondale
- Chase
- Chinchilla
- Clarks Green
- Clarks Summit
- Courtdale
- Dallas
- Dalton
- Dickson City
- Dupont
- Eagle Lake
- Edwardsville
- Exeter
- Factoryville
- Forest City
- Forty Fort
- Harford
- Hughestown
- Jermyn
- Jessup
- Laflin
- Long Pond
- Moosic
- Moscow
- Olyphant
- Pittston
- Plains
- Plymouth
- Pocono Springs
- Prompton
- Scranton
- Shavertown
- Sugar Notch
- Susquehanna
- Taylor
- The Hideout
- Upper Exeter
- Wallenpaupack Lake Estates
- Waverly
- West Falls
- West Pittston
- West Wyoming
- Yatesville
Neighborhoods in Scranton, PA
Downtown Scranton rent to own homes Pine Brook rent to own homes Tripp's Park rent to own homes Greenridge rent to own homes East Mountain rent to own homes West Mountain rent to own homes The Plot rent to own homes Hill Section rent to own homes Keyser Valley rent to own homes Providence rent to own homesBuying a Home in Scranton, PA
Scranton, PA is seeing rapid growth and Scranton, PA's' housing market remains optimal with an average home price that is -51% below the 2024 national average. Scranton, PA is part of Lackawanna county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Lackawanna is 1.43% which is above the national average, which is 0.99%.
Median Home Price in Scranton, PA
Median Rent in Scranton, PA
Top Reasons to Live in Scranton PA
Housing Statistics Of the residential properties in Scranton, 46% are owned, 44% rented and 10% vacant. Due to the high number of vacant properties more homes for sale may be available on a rent to own basis. The annual residential turnover rate is fairly low compared to the rest of the country at 14%. From Q1 2012 to Q4 2012 both the average and median sales price have gone up steadily to $115,000 and $100,000 respectively, suggesting a stable housing market.
Largest Employers and Industries Similar to other cities, a large proportion of Scranton's workforce (just under 30%) works in educational services, health care or social assistance for organizations such as Moses Taylor and Mid Valleys Hospitals. Retail is also important to the area, providing around 10% of the area's jobs, with stores at the city's two malls hiring many from the local community. The financial services industry is represented by companies like The Bank of America, while around 3,000 manufacturing jobs are provided by a numerous companies such as Sandvik Material Technologies and Cinram Manufacturing.
Nightlife Every city has one sports bar that prides itself on serving the best chicken wings around and in Scranton that bar is Zaleski's Clubhouse Cafe. Head to The Keys if you're in the mood to dance as there's usually a DJ or live music to get your feet moving. Even if you're not the dancing type, you'll want to head here just to try the bar's stuffed hamburger. Some in the local neighborhood think they're even better than those famous chicken wings!
Weather and Climate Classified as having a humid continental climate, Scranton enjoys noticeable changes from season to season. Warm, humid and fairly wet summers can reach highs of around 80 degrees Fahrenheit, while winters here can reach lows of 18 degrees. Snowfall is common between December and March, with upwards of seven inches every month, while several inches of snow in April and November is also common.
Local Shopping Scranton is served by two major malls - The Mall at Steamtown and Viewmont Mall. The Mall at Steamtown, which is in the downtown district, has a wider range of well-known stores and also a more diverse food hall, but this means that it's often quite busy, although there's ample underground parking. If you don't mind the crowds you'll find almost anything you're looking for, whether it's a new outfit for a night out or a kettle for your kitchen. The Viewmont Mall straddles the northern city limit and has two major department stores bookending the mall with a third in the middle, with a number of brand name and discount stores there as well.