Spokane Valley, WA 99206 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

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Spokane Valley, WA—99206

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$426,000

0.8% YoY Growth

Household Income

$75,500

33.6% YoY Growth

Days on Market

43

46.0% Longer YoY

Home Price Forecast

-1.5%

Median Rent

$1,400

16.6% YoY Growth

1-Bed Rent

$1,200

0.0% YoY Growth

2-Bed Rent

$1,400

4.8% YoY Growth

3-Bed Rent

$2,150

2.0% YoY Growth

Other Zip Codes in Spokane Valley, WA

99212 99216 99016 99037

Home Price Trends — Spokane Valley, WA

As of May '26, the median home price in Spokane Valley, WA is $426,000, with a year-over-year change of 0.8%. This indicates that home prices in Spokane Valley, WA are flat. According to Zillow, the 1-year price projection is -1.5%, suggesting a decrease housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$426,000	0.8%
Single Family	$429,000	0.5%
Condos	$194,000	0.5%

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 $1,560, with a year-over-year rent change of -16.6%. Per bedroom, the median rent as of July '25 in Spokane Valley, WA is studios: $952, 1-bedrooms: $1,210, 2-bedrooms: $1,400, 3-bedrooms: $2,090, 4-bedrooms: $2,420. The most common rental property sizes in Spokane Valley, WA are 2-bedroom and 3-bedroom, accounting for 36.4% and 26.3% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,400	$1,560
Studio Rent	$995	$952
1 Bed Rent	$1,200	$1,210
2 Bed Rent	$1,400	$1,400
3 Bed Rent	$2,150	$2,090
4 Bed Rent	$2,450	$2,420

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% of Rental Stock

Studio

4.2%

1 Bedroom

24.3%

2 Bedrooms

36.4%

3 Bedrooms

26.3%

4 Bedrooms

8.4%

5+ Bedrooms

0.4%

Property Listings — Spokane Valley, WA

As of May '26, Realtor.com reports that the median days on market for a home in Spokane Valley, WA is 43. This is a increase of 46.0% 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 25.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$475,000	-1.0%
Listing Count	157	11.0%
Listings as % of Homes	0.5%	11.0%
Days on Market	43	46.0%

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Demographics — Spokane Valley, WA

As of the latest ACS Survey released in 2023, Spokane Valley, WA has a population of 41,400, which has increased by 9.1% over the past 5 years. Spokane Valley, WA is a moderately popular place for families, as children make up 21.5% of the population. The area has a moderately educated workforce, with 27.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.2% reporting working from home.

Metric	Latest Census	YoY % Change
Population	41,400	9.1%
% Under 18	21.5%	-11.5%
% Seniors	18.2%	25.5%
% WFH	14.2%	283.8%
% w/ College Degree	27.6%	11.7%

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As of the latest ACS Survey released in 2023, Spokane Valley, WA is a predominantly white area, with 82.4% of the population identifying as white. The white population has shrunk by 3.6% in the last 5 years. The second most common race or ethnicity in Spokane Valley, WA is hispanic, making up 6.7% of the population. Foreign-born residents account for 4.8% of the population in Spokane Valley, WA, and this percentage has increased by 4.3% 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	82.4%	-3.6%
% Black	2.1%	162.5%
% Hispanic	6.7%	-6.9%
% Asian	2.1%	133.3%
% Foreign Born	4.8%	4.3%

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Mortgage and Risk — Spokane Valley, WA

According to HUD data as of 2023, there were 705 mortgage originations in Spokane Valley, WA, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 23.0% above 90% LTV (very high). This implies large mortgage risk in Spokane Valley, WA. Investor activity is low, as 2.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	705
% Conventional Loans	81.0%
% Government Loans	19.0%
% Investor Loans	2.0%
% Second Loans	0.0%
% Cash Out Refinance	14.0%

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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 9.7%. 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. In Spokane Valley, WA, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.

Section 8 Market Size

Total Units under HUD	700
Total Units Section 8	661
% Rentals under Section 8	9.7%
% Occupied Section 8	90.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$210	$1,200	$990
2 Bedroom	-$130	$1,400	$1,270
3 Bedroom	-$390	$2,150	$1,760
4 Bedroom	-$390	$2,450	$2,060