Spokane Valley, WA—99216
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 $397,000, 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 0.4%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $397,000 | -0.4% |
| Single Family | $399,000 | -0.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $342,000 | 0.0% |
3 Bed | $393,000 | -0.5% |
4 Bed | $424,000 | -1.4% |
| 5 Bed | $459,000 | -1.9% |
% of Housing Stock
Rental Trends — Spokane Valley, WA
As of July '25, Rentcast reports the average rent in Spokane Valley, WA is $1,510, with a year-over-year rent change of -16.1%. Per bedroom, the median rent as of July '25 in Spokane Valley, WA is 1-bedrooms: $1,270, 2-bedrooms: $1,390, 3-bedrooms: $2,000, 4-bedrooms: $2,310. The most common rental property sizes in Spokane Valley, WA are 2-bedroom and 1-bedroom, accounting for 39.4% and 30.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,340 | $1,510 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,250 | $1,270 |
| 2 Bed Rent | $1,320 | $1,390 |
| 3 Bed Rent | $1,950 | $2,000 |
| 4 Bed Rent | $2,400 | $2,310 |
% 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 55. This is a increase of 15.0% 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 38.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $427,000 | -7.0% |
Listing Count | 69 | 17.0% |
| Listings as % of Homes | 0.3% | 17.0% |
Days on Market | 55 | 15.0% |
Demographics — Spokane Valley, WA
As of the latest ACS Survey released in 2023, Spokane Valley, WA has a population of 28,100, which has increased by 7.5% over the past 5 years. Spokane Valley, WA is a moderately popular place for families, as children make up 20.8% of the population. The area has a poorly educated workforce, with 21.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 28,100 | 7.5% |
% Under 18 | 20.8% | -6.3% |
% Seniors | 17.9% | 4.1% |
% WFH | 11.7% | 165.9% |
% w/ College Degree | 21.8% | 4.3% |
As of the latest ACS Survey released in 2023, Spokane Valley, WA is a predominantly white area, with 83.4% of the population identifying as white. The white population has shrunk by 5.0% in the last 5 years. The second most common race or ethnicity in Spokane Valley, WA is hispanic, making up 8.2% of the population. Foreign-born residents account for 5.1% of the population in Spokane Valley, WA, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 83.4% | -5.0% |
% Black | 1.2% | -33.3% |
% Hispanic | 8.2% | 74.5% |
% Asian | 0.7% | -56.2% |
% Foreign Born | 5.1% | 0.0% |
Mortgage and Risk — Spokane Valley, WA
According to HUD data as of 2023, there were 436 mortgage originations in Spokane Valley, WA, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 54.0%, with 26.0% 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. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 436 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
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 5.2%. 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 | 428 |
Total Units Section 8 | 339 |
% Rentals under Section 8 | 5.2% |
% Occupied Section 8 | 88.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$160 | $1,250 | $1,090 |
| 2 Bedroom | $80 | $1,320 | $1,400 |
| 3 Bedroom | -$10 | $1,950 | $1,940 |
| 4 Bedroom | -$130 | $2,400 | $2,270 |
Affordability — Spokane Valley, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.6 |
| Median Home Price | $397,000 |
| Median Household Income | $70,000 |