18505, Scranton, PA

The 18505 zip code of Scranton, PA has a median home value of $104,000 and a median home equity value of $111,000. These values are higher than the national median home value of $77,500 and the national median home equity value of $103,700. The reasons for these high values in the 18505 zip code may include strong economic conditions in the area and low interest rates.

In addition to having high home values, the 18505 zip code also has a high rate of homeownership. As of 2016, 78% of residents in the 18505 zip code were homeowners compared to the national average of 63%. This high rate may be due to strong economic conditions in the area or it may be because Scranton is an affordable city with good schools. Regardless of why it is so high, it is an indicator that there is demand for homes in this area.

One downside to having such high home values and homeownership rates in the 18505 zip code is that they can make it difficult for people who want to sell their homes. In 2016, there were only six sales in the 18505 zip code which was below average for this type of market. This low number may be due to either low demand or tight inventory levels.