Spokane Valley, WA 99016 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

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Spokane Valley, WA—99016

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$488,000

0.5% YoY Growth

Household Income

$94,300

45.0% YoY Growth

Days on Market

76

3.0% Shorter YoY

Home Price Forecast

0.7%

Median Rent

$2,450

5.1% YoY Growth

1-Bed Rent

$1,500

33.3% YoY Growth

2-Bed Rent

$2,150

22.2% YoY Growth

3-Bed Rent

$2,400

3.9% YoY Growth

Other Zip Codes in Spokane Valley, WA

99212 99206 99216 99037

Home Price Trends — Spokane Valley, WA

As of Dec '25, the median home price in Spokane Valley, WA is $488,000, with a year-over-year change of -0.5%. This indicates that home prices in Spokane Valley, WA are flat. According to Zillow, the 1-year price projection is 0.7%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$488,000	-0.5%
Single Family	$488,000	-0.4%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Spokane Valley, WA

As of July '25, Rentcast reports the average rent in Spokane Valley, WA is $2,490, with a year-over-year rent change of 5.1%. Per bedroom, the median rent as of July '25 in Spokane Valley, WA is studios: $1,200, 1-bedrooms: $1,480, 2-bedrooms: $2,150, 3-bedrooms: $2,420, 4-bedrooms: $2,960. The most common rental property sizes in Spokane Valley, WA are 3-bedroom and 2-bedroom, accounting for 41.7% and 29.1% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$2,450	$2,490
Studio Rent	$1,200	$1,200
1 Bed Rent	$1,500	$1,480
2 Bed Rent	$2,150	$2,150
3 Bed Rent	$2,400	$2,420
4 Bed Rent	$2,850	$2,960

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% of Rental Stock

Studio

1.1%

1 Bedroom

16.0%

2 Bedrooms

29.1%

3 Bedrooms

41.7%

4 Bedrooms

9.0%

5+ Bedrooms

3.2%

Property Listings — Spokane Valley, WA

As of Dec '25, Realtor.com reports that the median days on market for a home in Spokane Valley, WA is 51. This is a decrease of 0.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 34.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$511,000	-3.0%
Listing Count	112	37.0%
Listings as % of Homes	0.9%	37.0%
Days on Market	76	-3.0%

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Demographics — Spokane Valley, WA

As of the latest ACS Survey released in 2023, Spokane Valley, WA has a population of 20,300, which has increased by 39.3% over the past 5 years. Spokane Valley, WA is a moderately popular place for families, as children make up 24.7% of the population. The area has a moderately educated workforce, with 37.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 19.9% reporting working from home.

Metric	Latest Census	YoY % Change
Population	20,300	39.3%
% Under 18	24.7%	-14.5%
% Seniors	16.4%	-8.4%
% WFH	19.9%	168.9%
% w/ College Degree	37.7%	-2.3%

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As of the latest ACS Survey released in 2023, Spokane Valley, WA is a predominantly white area, with 83.7% of the population identifying as white. The white population has shrunk by 4.8% in the last 5 years. The second most common race or ethnicity in Spokane Valley, WA is hispanic, making up 8.1% of the population. Foreign-born residents account for 6.3% of the population in Spokane Valley, WA, and this percentage has increased by 14.5% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	83.7%	-4.8%
% Black	0.8%	-33.3%
% Hispanic	8.1%	55.8%
% Asian	4.0%	81.8%
% Foreign Born	6.3%	14.5%

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Mortgage and Risk — Spokane Valley, WA

According to HUD data as of 2023, there were 524 mortgage originations in Spokane Valley, WA, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Spokane Valley, WA. Investor activity is low, as 0.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	524
% Conventional Loans	87.0%
% Government Loans	13.0%
% Investor Loans	0.0%
% Second Loans	1.0%
% Cash Out Refinance	8.0%

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Rentals and Section 8 — Spokane Valley, WA

As of 2024, the percent of homes in Spokane Valley, WA under the Section 8 program is 1.3%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Spokane Valley, WA, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom units do not.

Section 8 Market Size

Total Units under HUD	26
Total Units Section 8	26
% Rentals under Section 8	1.3%
% Occupied Section 8	86.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$70	$1,500	$1,430
2 Bedroom	-$310	$2,150	$1,840
3 Bedroom	$140	$2,400	$2,540
4 Bedroom	$130	$2,850	$2,980