2009 MSN Real Estate Most-Livable Bargain Markets
Friday, November 20, 2009, 10:03 AM
Posted by Administrator
#4. Scranton-Wilkes-Barre, Pa.
You might recognize this city as the dreary backdrop for NBC’s hit show “The Office.” But if you have a steady job, you can live well in these safe cities for a bargain price.
Beautiful Victorian homes in Scranton and Wilkes-Barre, which is about 100 miles from New York City, sell for about $150,000, Sperling says.
The area was built on coal, and piles of coal tipple still dominate the view between Scranton and Wilkes-Barre. However, the largest local employers are now government and health care.
The population is older — people 65 and over account for 18% — but there’s still plenty of entertainment to be found, from the large number of parks to arts and cultural venues. The Scranton Cultural Center showcases everything from its own Northeastern Pennsylvania Philharmonic to Broadway musicals. For rail buffs, there’s the Steamtown National Historic Site in Scranton. And for sports, most people flock to the Yankees, the farm team for the major-league baseball team of the same name.
Cons: The population here is older, and not particularly healthy. And it’s not diverse, with 94% of the population being non-Hispanic and white. Unemployment here is above the national average.
Population 1,128,127
Affordability index 2.56
Unemployment 8.6
Job growth -2.83%
Median home price $115,400
Home price appreciation 1.21%
Cost of living index 88.6
Median household income $45,127
Commute time (mins.) 22.9
% commutes greater than an hour 3.20%