Tripp's Park, a neighborhood in Scranton, Pennsylvania, has experienced fluctuating homeownership rates and housing prices over the past decade. This residential area has maintained a relatively stable homeownership rate, despite variations in average home and rent prices. The homeownership rate in Tripp's Park has remained steady, ranging from 70% to 73% between 2013 and 2022, with a peak of 77% in 2015. Concurrently, average home prices in the neighborhood have shown an overall upward trend, increasing from $103,268 in 2013 to $142,838 in 2022, representing a substantial 38% increase over the decade.

Federal interest rates have influenced homeownership trends in Tripp's Park. From 2013 to 2016, extremely low interest rates ranging from 0.09% to 0.4% coincided with relatively high homeownership rates, peaking at 77% in 2015. As interest rates rose more sharply from 2017 onwards, reaching 1.68% in 2022, homeownership rates stabilized around 72-73%, suggesting a slight dampening effect of higher interest rates on homeownership. Renter percentages in Tripp's Park have inversely mirrored homeownership rates, ranging from 23% to 30% between 2013 and 2022. Average rent prices have shown a gradual increase over this period, rising from $914 in 2013 to $989 in 2018, the highest point observed.

In 2023 and 2024, Tripp's Park has experienced continued growth in average home prices. The average home price in 2023 was $149,509, a 4.7% increase from 2022. In 2024, it further increased to $160,362, representing a 7.3% rise from 2023. This growth occurred despite significantly higher federal interest rates, which stood at 5.02% in 2023 and 5.33% in 2024, the highest levels since 2007.