Hillyard, Spokane, WA—99217
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hillyard, Spokane, WA
As of Oct '25, the median home price in Hillyard, Spokane, WA is $368,000, with a year-over-year change of -1.0%. This indicates that home prices in Hillyard, Spokane, WA are flat. According to Zillow, the 1-year price projection is 0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $368,000 | -1.0% |
| Single Family | $369,000 | -0.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $283,000 | -0.4% |
2 Bed | $295,000 | -1.3% |
3 Bed | $377,000 | -1.0% |
4 Bed | $444,000 | -1.3% |
| 5 Bed | $557,000 | -0.5% |
% of Housing Stock
Rental Trends — Hillyard, Spokane, WA
As of July '25, Rentcast reports the average rent in Hillyard, Spokane, WA is $1,570, with a year-over-year rent change of -1.9%. Per bedroom, the median rent as of July '25 in Hillyard, Spokane, WA is studios: $819, 1-bedrooms: $1,110, 2-bedrooms: $1,420, 3-bedrooms: $2,230, 4-bedrooms: $2,820. The most common rental property sizes in Hillyard, Spokane, WA are 2-bedroom and 3-bedroom, accounting for 36.6% and 29.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,300 | $1,570 |
| Studio Rent | $850 | $819 |
| 1 Bed Rent | $995 | $1,110 |
| 2 Bed Rent | $1,480 | $1,420 |
| 3 Bed Rent | $2,200 | $2,230 |
| 4 Bed Rent | $3,000 | $2,820 |
% of Rental Stock
Property Listings — Hillyard, Spokane, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in Hillyard, Spokane, WA is 46. This is a increase of 8.0% 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 | $480,000 | 29.0% |
Listing Count | 94 | 34.0% |
| Listings as % of Homes | 0.6% | 34.0% |
Days on Market | 46 | 8.0% |
Demographics — Hillyard, Spokane, WA
As of the latest ACS Survey released in 2023, Hillyard, Spokane, WA has a population of 19,900, which has increased by 12.9% over the past 5 years. Hillyard, Spokane, WA is a moderately popular place for families, as children make up 22.5% of the population. The area has a moderately educated workforce, with 25.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 19,900 | 12.9% |
% Under 18 | 22.5% | -5.1% |
% Seniors | 15.0% | -3.2% |
% WFH | 13.5% | 214.0% |
% w/ College Degree | 25.0% | 5.0% |
As of the latest ACS Survey released in 2023, Hillyard, Spokane, WA is a predominantly white area, with 78.7% of the population identifying as white. The white population has shrunk by 1.3% in the last 5 years. The second most common race or ethnicity in Hillyard, Spokane, WA is hispanic, making up 8.1% of the population. Foreign-born residents account for 12.0% of the population in Hillyard, Spokane, WA, and this percentage has increased by 41.2% 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 | 78.7% | -1.3% |
% Black | 0.4% | -50.0% |
% Hispanic | 8.1% | 8.0% |
% Asian | 3.9% | 5.4% |
% Foreign Born | 12.0% | 41.2% |
Mortgage and Risk — Hillyard, Spokane, WA
According to HUD data as of 2023, there were 309 mortgage originations in Hillyard, Spokane, WA, of which 79.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Hillyard, Spokane, WA. Investor activity is low, as 1.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 309 |
% Conventional Loans | 79.0% |
% Government Loans | 21.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Hillyard, Spokane, WA
As of 2024, the percent of homes in Hillyard, Spokane, WA under the Section 8 program is 8.7%. 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. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Hillyard, Spokane, WA, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 232 |
Total Units Section 8 | 231 |
% Rentals under Section 8 | 8.7% |
% Occupied Section 8 | 88.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $205 | $995 | $1,200 |
| 2 Bedroom | $60 | $1,480 | $1,540 |
| 3 Bedroom | -$70 | $2,200 | $2,130 |
| 4 Bedroom | -$510 | $3,000 | $2,490 |
Affordability — Hillyard, Spokane, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.1 |
| Median Home Price | $368,000 |
| Median Household Income | $71,800 |