18508, Scranton, PA

The 18508 zip code of Scranton, PA has a median home value of $104,900. This is lower than the Pennsylvania median home value of $181,500. The 18508 zip code also has a lower than average home equity ratio of 36%. This means that the homes in this zip code are less likely to have enough equity to cover any potential losses in value.

One reason for this may be that the homes in this zip code are older and may have been built before the current housing market boom. Additionally, many of these homes were purchased at a time when interest rates were much higher and there was more money available to spend on a home. As a result, many homeowners in this area may now find themselves struggling to cover their mortgage payments or owe more on their home than it is worth.

While it is possible for homeowners in this area to regain some of their lost equity over time, it is likely that they will need to sell their home sooner rather than later if they want to recoup all or most of their investment. If you are thinking about buying or selling a home in the 18508 zip code, be sure to consult with an experienced real estate agent who can help you assess your specific situation and make informed decisions about your best course of action.