Scranton anchors the Lackawanna County portion of the Scranton-Wilkes-Barre-Hazleton metro, a market of approximately 570,000 people in northeastern Pennsylvania. While the market carries the legacy of its coal mining and manufacturing heritage, healthcare systems, higher education, and proximity to the New York metropolitan area have created a stabilizing economic foundation for commercial real estate.
Scranton Market Overview: Key Metrics
The Scranton commercial real estate market in 2026 reflects a market shaped by Geisinger (Commonwealth Health), Commonwealth Medical College, University of Scranton, Marywood University, Pennsylvania state government, Lackawanna County, PPL Corporation, GlobalSpec. Here are the key metrics investors and borrowers should know:
- Multifamily Vacancy: 8.0% — above the national average as new supply is absorbed
- Industrial Vacancy: 7.5% — normalizing as speculative development is absorbed
- Office Vacancy: 17.0%
- Retail Vacancy: 11.5%
- Rent Growth: 3.0% year-over-year
- Job Growth: 0.9% — tracking near the national average
- Population Growth: 0.2% annually
- Median Asking Rent: $1,050
Multifamily Outlook in Scranton
Industrial & Logistics Market
Office & Retail Dynamics
Financing Landscape in Scranton
Commercial Lending Solutions arranges commercial real estate financing in Scranton from $1 million upward. High cap rate environments create attractive DSCR coverage for bridge and permanent loan structures. SBA programs serve the active small business community across healthcare, hospitality, and professional services.
For borrowers in the Scranton-Wilkes-Barre area, current commercial mortgage rates range from 7.00% for agency multifamily to higher rates for transitional and value-add projects. Key factors that influence your rate include property type, leverage, sponsor experience, and asset location within the metro.
Top Submarkets to Watch
The Scranton metro features several distinct submarkets that present unique investment opportunities:
- Downtown Scranton
- Hill Section
- Green Ridge
- West Side
- South Side
- Wilkes-Barre
- Hazleton
- Pittston
- Kingston
- Plains
- Dunmore
- Clarks Summit
- Old Forge
- Moosic
- Dickson City
Each of these submarkets has distinct characteristics in terms of tenant demand, development activity, and pricing. The top investment corridors in Scranton include Downtown Scranton, South Side, Green Ridge, Dickson City, Moosic, Taylor, Old Forge, Dunmore.
Investment Outlook: Scranton 2026
Scranton's outlook is modestly improving. The New York remote worker dynamic is a genuine demand driver for both residential and retail. Geisinger Commonwealth's clinical expansion and the University of Scranton's continued enrollment support healthcare and student housing demand. The HBO series and tourism around Scranton's cultural identity has become an unexpected driver of boutique hospitality investment.
CLS CRE in Scranton
CLS CRE provides commercial mortgage brokerage services throughout the Scranton-Wilkes-Barre metropolitan area, with access to 1,000+ lenders including banks, life insurance companies, CMBS conduits, agency lenders, debt funds, and credit unions. Whether you're acquiring, refinancing, or developing commercial property in Scranton, our market expertise and lender relationships help you secure the most competitive terms available.
Explore our financing programs for Scranton:
- Bridge Loans in Scranton
- Permanent Loans in Scranton
- Construction Loans in Scranton
- Multifamily Financing in Scranton
- Industrial Financing in Scranton
- Retail Financing in Scranton
Trevor Damyan is a commercial mortgage broker at Commercial Lending Solutions with a background in structured finance at CBRE and Marcus and Millichap Capital Corporation. He specializes in bridge loans, construction financing, SBA programs, DSCR loans, and complex capital structures for investors and developers across all 50 states.
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