The typical owner-occupied home in Scranton is worth about $112,500, 40% below the Arkansas median of $188,000 and 66% below the national median of $332,700. Owners pay a median $567 a year in property taxes, about 0.50% of their home's value, lower than the Arkansas rate of 0.55%. The median household earns $83,125 a year, so the median home costs 1.4 times the median income (3.1 times for Arkansas). 78% of occupied homes here are lived in by their owners, and 58% of those owners still have a mortgage.
Scranton at a glance
| Scranton | Arkansas | U.S. | |
|---|---|---|---|
| Median home value | $112,500 | $188,000 | $332,700 |
| Median property tax paid per year | $567 | $1,040 | $3,119 |
| Property tax as a share of value | 0.50% | 0.55% | 0.94% |
| Median household income | $83,125 | $60,773 | $80,734 |
| Homes lived in by their owners | 78% | 66% | 65% |
| Owner homes with a mortgage | 58% | 53% | 61% |
| Median monthly costs, owners with a mortgage | $1,019 | $1,345 | $1,963 |
| Those costs as a share of the owners' income | 15.0% | 18.5% | 21.0% |
| Median rent | $645 | $947 | $1,413 |
| Rent as a share of renters' income | 27.5% | 27.6% | 30.6% |
| Median year homes were built | 1986 | 1987 | 1980 |
| Vacant homes | 18.3% | 13.5% | 10.1% |
| Population | 220 | 3,049,391 | 334,922,499 |
What a typical home costs per month in Scranton
At this week's average 30-year rate of 7.11%, buying the median Scranton home of $112,500 with 20% down costs about $699 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $887, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $29,965 for the 20%-down payment. That payment is 10% of the median Scranton household income of $83,125; at that income and 20% down, the 28% guideline points to a home of about $312,000.
The median rent here is $645 a month, so owning the median home costs about $54 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $22,500 |
|---|---|
| Loan amount | $90,000 |
| Principal and interest | $605 |
| Property taxes (0.50% a year) | $47 |
| Homeowners insurance (our estimate, 0.5% a year) | $47 |
| PMI | $0 |
| Total per month | $699 |
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| Down payment | $3,938 |
|---|---|
| Loan amount | $110,462 |
| Principal and interest | $743 |
| Property taxes (0.50% a year) | $47 |
| Homeowners insurance (our estimate, 0.5% a year) | $47 |
| FHA mortgage insurance | $50 |
| Total per month | $887 |
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Questions about home buying in Scranton
What is the median home value in Scranton?
About $112,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Scranton?
Homeowners pay a median $567 a year, which is about 0.50% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Scranton?
For the median home with 20% down at 7.11%, the payment is about $699 a month. Keeping that under 28% of gross income takes about $29,965 a year.
More about Scranton
- Mortgage Refinance in Scranton
- Debt Relief in Scranton
- Home Equity Loans in Scranton
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data