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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Wilkes-Barre, PA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Wilkes-Barre, PA Housing Market Trends

With 44,261 people, 16,461 houses or apartments, and a median cost of homes of $140,163, house prices in Wilkes-Barre are some of the most affordable in Pennsylvania as well as the nation.

Single-family detached homes are the single most common housing type in Wilkes-Barre, accounting for 51.13% of the city's housing units. Other types of housing that are prevalent in Wilkes-Barre include large apartment complexes or high rise apartments ( 18.45%), duplexes, homes converted to apartments or other small apartment buildings ( 16.45%), and a few row houses and other attached homes ( 13.57%).

The most prevalent building size and type in Wilkes-Barre are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 44.02% owning and 55.98% renting.

The housing in Wilkes-Barre was primarily built before 1939 ( 46.29%), making the housing stock in Wilkes-Barre some of the oldest overall in America, although there is a range of ages of homes in Wilkes-Barre. The next most important housing age is between 1970-1999 ( 25.75%), followed by between 1940-1969 ( 25.17%). There's also some housing in Wilkes-Barre built between 2000 and later ( 2.79%).

Vacant housing appears to be an issue in Wilkes-Barre. Fully 17.32% of the housing stock is classified as vacant. Left unchecked, vacant Wilkes-Barre homes and apartments can be a drag on the real estate market, holding Wilkes-Barre real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Wilkes-Barre Home Appreciation Rates

Real estate appreciation rates in Wilkes-Barre's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.25% during the period.

Appreciation rates are so strong in Wilkes-Barre that despite a nationwide downturn in the housing market, Wilkes-Barre real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Wilkes-Barre appreciation rates continue to be some of the highest in America, at 10.08%, which is higher than appreciation rates in 87.71% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Wilkes-Barre. Wilkes-Barre appreciation rates in the latest quarter were at 6.05%, which equates to an annual appreciation rate of 26.51%.

Importantly, NeighborhoodScout’s exclusive research found that Wilkes-Barre's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to Pennsylvania, our data show that Wilkes-Barre's latest annual appreciation rate is higher than 80% of the other cities and towns in Pennsylvania.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Wilkes-Barre differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Wilkes-Barre - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Wilkes-Barre real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$140,163

Wilkes-Barre, PA Home Prices
> $1,489,000
$1,117,001 - $1,489,000
$745,001 - $1,117,000
$596,001 - $745,000
$447,001 - $596,000
$298,001 - $447,000
$149,001 - $298,000
$74,001 - $149,000
$0 - $74,000
0.0%
0.0%
0.0%
0.0%
1.0%
1.0%
0.2%
0.2%
5.2%
5.2%
9.0%
9.0%
34.2%
34.2%
36.1%
36.1%
14.2%
14.2%
0% 100.0%
% of Homes
Very Low

for Pennsylvania

Very Low

for nation

Number of Homes And Apartments:

16,461

Wilkes-Barre Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,493 / per month

Homeownership Rate

Owners
Renters
44.0%
44.0%
56.0%
56.0%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
17.3%
17.3%
82.7%
82.7%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
2.8%
2.8%
25.8%
25.8%
25.2%
25.2%
46.3%
46.3%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
51.1%
51.1%
13.6%
13.6%
16.4%
16.4%
18.4%
18.4%
0.4%
0.4%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
5.9%
5.9%
14.8%
14.8%
19.3%
19.3%
45.5%
45.5%
10.7%
10.7%
3.8%
3.8%
0% 100.0%
% of Homes