Spokane Valley, WA—99212
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Spokane Valley, WA
As of Oct '25, the median home price in Spokane Valley, WA is $364,000, with a year-over-year change of 0.4%. This indicates that home prices in Spokane Valley, WA are flat. 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 | $364,000 | 0.4% |
| Single Family | $370,000 | 0.5% |
| Condos | $215,000 | -2.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $229,000 | 0.4% |
2 Bed | $295,000 | 1.7% |
3 Bed | $380,000 | 0.5% |
4 Bed | $433,000 | -0.5% |
| 5 Bed | $534,000 | -0.9% |
% of Housing Stock
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 |
% of Rental Stock
Property Listings — Spokane Valley, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in Spokane Valley, WA is 58. This is a increase of 27.0% 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 36.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $416,000 | -4.0% |
Listing Count | 95 | 14.0% |
| Listings as % of Homes | 0.6% | 14.0% |
Days on Market | 58 | 27.0% |
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% |
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% |
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% |
Loan Activity
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 |
Affordability — Spokane Valley, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.4 |
| Median Home Price | $364,000 |
| Median Household Income | $66,200 |