CALCMONEY // HOME AFFORDABILITY // PA // SCRANTON
How much house can you afford in Scranton? Based on local median home prices, current PA mortgage rates, and Scranton property tax data.
$175,000
$1,294/mo
$55,454/yr
$128,706
Monthly housing costs of $1,294 represent 34.5% of Scranton's median gross monthly income ($3,750/mo). At 34.5%, this slightly exceeds the 28% rule. Buyers need above-median income or a 25%+ down payment to qualify comfortably.
| Median Home Price | $175,000 |
| Down Payment (20%) | $35,000 |
| Loan Amount | $140,000 |
| Monthly PI Payment | $922 |
| Monthly Property Tax | $299 |
| Monthly Insurance Est. | $73 |
| Total Monthly PITI | $1,294 |
| Housing Cost % of Income | 34.5% |
| Required Income (28% rule) | $55,454/yr |
| Max Affordable Home | $128,706 |
$6,125
$1,604/mo
Scranton Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $175,000 | Scranton city median |
| Down Payment (20%) | $35,000 | Conventional loan |
| Monthly PITI | $1,294 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $55,454 | Annual gross |
| Max Affordable Home | $128,706 | Based on median income |
| FHA Down (3.5%) | $6,125 | Minimum FHA |
| Housing Cost % of Income | 34.5% | Median income: $45,000/yr |
| Property Tax Rate | 2.05% | $3,587/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Scranton is $175,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $140,000, generating a monthly P&I payment of $922. Adding property taxes ($299/mo) and homeowners insurance ($73/mo) brings total monthly PITI to $1,294.
Scranton's property tax rate of 2.05% is notably high, meaningfully reducing how much home buyers can afford — lenders factor this directly into debt-to-income calculations. On the Scranton median home, that is $299/month, or $3,587 per year.
Pennsylvania levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Scranton should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Scranton's median income of $45,000/year can afford up to $1,050/month in total housing costs. Based on Scranton's mortgage rate of 6.9% and property tax rate of 2.05%, that translates to a maximum affordable home price of approximately $128,706 with 20% down on a 30-year loan.
To afford the median Scranton home priced at $175,000, you need an annual gross income of approximately $55,454. Total monthly housing costs (principal and interest of $922, property taxes of $299, and insurance of $73) come to $1,294/month, which equals 28% of the required income.
At the median home price of $175,000 and median household income of $45,000, the total monthly housing cost of $1,294 represents 34.5% of gross monthly income. This slightly exceeds the standard 28% rule. Buyers will need above-median income or a larger down payment to stay within guidelines.
A conventional 20% down payment on the median Scranton home of $175,000 is $35,000. An FHA loan requires just 3.5% down — $6,125 — but adds mortgage insurance of roughly $120/month, bringing total FHA payments to $1,604/month.
Philadelphia
$265,000 median
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$155,000 median