Scranton,PA and Binghamton, NY area (thoughts?)

[Jorge Crespo]

Hi all,

I'm looking into the Scranton, PA area around Hyde Park as well as the Binghamton Metro area in NY. I would potentially be an out of state investor... Looking into the properties here they look very cheap compared to what I've seen in other markets.

Is this a cyclical type of market or is there a deeper reason that the market is on the downturn as of recent? I've thought about possibly buying in the area such as Multi family rentals, but I don't know if it would be a good long term play or not. Does anyone from that area have any more insight? I've noticed higher taxes, but that wouldn't deter me from buying in the area. I see vacancy is very high there ~15-16% as well as income. 

Would love to hear your thoughts!