Downtown Spokane, Spokane, WA—99201
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Downtown Spokane, Spokane, WA
As of Oct '25, the median home price in Downtown Spokane, Spokane, WA is $325,000, with a year-over-year change of -1.6%. This indicates that home prices in Downtown Spokane, Spokane, WA are decreasing. According to Zillow, the 1-year price projection is 0.3%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $325,000 | -1.6% |
| Single Family | $320,000 | -1.5% |
| Condos | $341,000 | -3.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $274,000 | -3.9% |
2 Bed | $302,000 | -3.2% |
3 Bed | $348,000 | -1.4% |
4 Bed | $344,000 | -0.9% |
| 5 Bed | $403,000 | -1.5% |
% of Housing Stock
Rental Trends — Downtown Spokane, Spokane, WA
As of July '25, Rentcast reports the average rent in Downtown Spokane, Spokane, WA is $1,310, with a year-over-year rent change of 0.8%. Per bedroom, the median rent as of July '25 in Downtown Spokane, Spokane, WA is studios: $952, 1-bedrooms: $1,220, 2-bedrooms: $1,540, 3-bedrooms: $2,200. The most common rental property sizes in Downtown Spokane, Spokane, WA are 1-bedroom and 2-bedroom, accounting for 48.6% and 24.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,150 | $1,310 |
| Studio Rent | $875 | $952 |
| 1 Bed Rent | $1,100 | $1,220 |
| 2 Bed Rent | $1,480 | $1,540 |
| 3 Bed Rent | $1,850 | $2,200 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Downtown Spokane, Spokane, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in Downtown Spokane, Spokane, WA is 45. This is a increase of 13.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 35.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $387,000 | 3.0% |
Listing Count | 69 | 50.0% |
| Listings as % of Homes | 0.3% | 50.0% |
Days on Market | 45 | 13.0% |
Demographics — Downtown Spokane, Spokane, WA
As of the latest ACS Survey released in 2023, Downtown Spokane, Spokane, WA has a population of 14,400, which has increased by 6.5% over the past 5 years. Downtown Spokane, Spokane, WA is a less popular place for families, as children make up 11.1% of the population. The area has a moderately educated workforce, with 33.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 14,400 | 6.5% |
% Under 18 | 11.1% | -22.4% |
% Seniors | 16.4% | 28.1% |
% WFH | 12.1% | 63.5% |
% w/ College Degree | 33.6% | 26.3% |
As of the latest ACS Survey released in 2023, Downtown Spokane, Spokane, WA is a predominantly white area, with 71.8% of the population identifying as white. The white population has shrunk by 7.5% in the last 5 years. The second most common race or ethnicity in Downtown Spokane, Spokane, WA is hispanic, making up 9.4% of the population. Foreign-born residents account for 4.0% of the population in Downtown Spokane, Spokane, WA, and this percentage has increased by 25.0% 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 | 71.8% | -7.5% |
% Black | 3.4% | 36.0% |
% Hispanic | 9.4% | -2.1% |
% Asian | 3.1% | 34.8% |
% Foreign Born | 4.0% | 25.0% |
Mortgage and Risk — Downtown Spokane, Spokane, WA
According to HUD data as of 2023, there were 132 mortgage originations in Downtown Spokane, Spokane, WA, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Downtown Spokane, Spokane, WA. Investor activity is low, as 6.0% 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 | 132 |
% Conventional Loans | 86.0% |
% Government Loans | 14.0% |
% Investor Loans | 6.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Downtown Spokane, Spokane, WA
Downtown Spokane, Spokane, WA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1,440 |
Total Units Section 8 | 1,368 |
% Rentals under Section 8 | 24.7% |
% Occupied Section 8 | 89.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$120 | $1,100 | $980 |
| 2 Bedroom | -$220 | $1,480 | $1,260 |
| 3 Bedroom | -$110 | $1,850 | $1,740 |
| 4 Bedroom | N/A | N/A | $2,040 |
Affordability — Downtown Spokane, Spokane, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 9.5 |
| Median Home Price | $325,000 |
| Median Household Income | $35,300 |