Spokane Valley, WA 99212 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

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Spokane Valley, WA—99212

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$376,000

1.5% YoY Growth

Household Income

$66,200

23.6% YoY Growth

Days on Market

36

13.0% Longer YoY

Home Price Forecast

-1.5%

Median Rent

$1,900

2.6% YoY Growth

1-Bed Rent

$1,200

4.5% YoY Growth

2-Bed Rent

$1,400

10.1% YoY Growth

3-Bed Rent

$2,100

1.8% YoY Growth

Other Zip Codes in Spokane Valley, WA

99206 99216 99016 99037

Home Price Trends — Spokane Valley, WA

As of May '26, the median home price in Spokane Valley, WA is $376,000, with a year-over-year change of 1.5%. This indicates that home prices in Spokane Valley, WA are increasing. 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	$376,000	1.5%
Single Family	$383,000	1.3%
Condos	$217,000	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 $1,850, with a year-over-year rent change of -2.6%. Per bedroom, the median rent as of July '25 in Spokane Valley, WA is studios: $500, 1-bedrooms: $1,150, 2-bedrooms: $1,420, 3-bedrooms: $2,140, 4-bedrooms: $2,610. The most common rental property sizes in Spokane Valley, WA are 2-bedroom and 1-bedroom, accounting for 37.8% and 23.7% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,900	$1,850
Studio Rent	$500	$500
1 Bed Rent	$1,200	$1,150
2 Bed Rent	$1,400	$1,420
3 Bed Rent	$2,100	$2,140
4 Bed Rent	$2,700	$2,610

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% of Rental Stock

Studio

8.2%

1 Bedroom

23.7%

2 Bedrooms

37.8%

3 Bedrooms

22.7%

4 Bedrooms

4.3%

5+ Bedrooms

3.3%

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 36. 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 32.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$440,000	-5.0%
Listing Count	101	11.0%
Listings as % of Homes	0.6%	11.0%
Days on Market	36	13.0%

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Demographics — Spokane Valley, WA

As of the latest ACS Survey released in 2023, Spokane Valley, WA has a population of 21,500, which has increased by 8.3% over the past 5 years. Spokane Valley, WA is a moderately popular place for families, as children make up 21.9% of the population. The area has a moderately educated workforce, with 27.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.0% reporting working from home.

Metric	Latest Census	YoY % Change
Population	21,500	8.3%
% Under 18	21.9%	13.5%
% Seniors	17.4%	3.0%
% WFH	13.0%	225.0%
% w/ College Degree	27.3%	19.7%

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As of the latest ACS Survey released in 2023, Spokane Valley, WA is a predominantly white area, with 85.7% of the population identifying as white. The white population has shrunk by 3.5% in the last 5 years. The second most common race or ethnicity in Spokane Valley, WA is hispanic, making up 6.0% of the population. Foreign-born residents account for 4.3% of the population in Spokane Valley, WA, and this percentage has decreased by 20.4% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	85.7%	-3.5%
% Black	0.5%	-54.5%
% Hispanic	6.0%	66.7%
% Asian	0.9%	-30.8%
% Foreign Born	4.3%	-20.4%

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Mortgage and Risk — Spokane Valley, WA

According to HUD data as of 2023, there were 453 mortgage originations in Spokane Valley, WA, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Spokane Valley, WA. Investor activity is low, as 1.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	453
% Conventional Loans	78.0%
% Government Loans	22.0%
% Investor Loans	1.0%
% Second Loans	0.0%
% Cash Out Refinance	15.0%

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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 3.3%. 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. 2-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 3-bedroom and 4-bedroom units do not.

Section 8 Market Size

Total Units under HUD	138
Total Units Section 8	118
% Rentals under Section 8	3.3%
% Occupied Section 8	86.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$80	$1,200	$1,120
2 Bedroom	$40	$1,400	$1,440
3 Bedroom	-$110	$2,100	$1,990
4 Bedroom	-$370	$2,700	$2,330