Latah Valley, Spokane, WA—99224
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Latah Valley, Spokane, WA
As of Oct '25, the median home price in Latah Valley, Spokane, WA is $516,000, with a year-over-year change of -0.8%. This indicates that home prices in Latah Valley, Spokane, WA are flat. According to Zillow, the 1-year price projection is 0.6%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $516,000 | -0.8% |
| Single Family | $518,000 | -0.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $443,000 | -0.2% |
2 Bed | $406,000 | -0.7% |
3 Bed | $474,000 | -0.4% |
4 Bed | $579,000 | -1.2% |
| 5 Bed | $737,000 | -0.9% |
% of Housing Stock
Rental Trends — Latah Valley, Spokane, WA
As of July '25, Rentcast reports the average rent in Latah Valley, Spokane, WA is $1,990, with a year-over-year rent change of -1.0%. Per bedroom, the median rent as of July '25 in Latah Valley, Spokane, WA is studios: $1,210, 1-bedrooms: $1,230, 2-bedrooms: $1,610, 3-bedrooms: $2,450, 4-bedrooms: $2,660. The most common rental property sizes in Latah Valley, Spokane, WA are 2-bedroom and 3-bedroom, accounting for 45.7% and 25.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,520 | $1,990 |
| Studio Rent | $1,180 | $1,210 |
| 1 Bed Rent | $1,220 | $1,230 |
| 2 Bed Rent | $1,560 | $1,610 |
| 3 Bed Rent | $2,700 | $2,450 |
| 4 Bed Rent | $2,600 | $2,660 |
% of Rental Stock
Property Listings — Latah Valley, Spokane, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in Latah Valley, Spokane, WA is 59. This is a increase of 19.0% 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 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $578,000 | -9.0% |
Listing Count | 149 | 18.0% |
| Listings as % of Homes | 0.7% | 18.0% |
Days on Market | 59 | 19.0% |
Demographics — Latah Valley, Spokane, WA
As of the latest ACS Survey released in 2023, Latah Valley, Spokane, WA has a population of 23,600, which has increased by 11.1% over the past 5 years. Latah Valley, Spokane, WA is a moderately popular place for families, as children make up 20.9% of the population. The area has a moderately educated workforce, with 41.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,600 | 11.1% |
% Under 18 | 20.9% | -2.3% |
% Seniors | 17.0% | 15.6% |
% WFH | 12.5% | 140.4% |
% w/ College Degree | 41.3% | 10.1% |
As of the latest ACS Survey released in 2023, Latah Valley, Spokane, WA is a predominantly white area, with 83.6% of the population identifying as white. The white population has shrunk by 0.5% in the last 5 years. The second most common race or ethnicity in Latah Valley, Spokane, WA is hispanic, making up 5.2% of the population. Foreign-born residents account for 6.6% of the population in Latah Valley, Spokane, WA, and this percentage has increased by 6.5% 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 | 83.6% | -0.5% |
% Black | 1.7% | -22.7% |
% Hispanic | 5.2% | -16.1% |
% Asian | 2.6% | -3.7% |
% Foreign Born | 6.6% | 6.5% |
Mortgage and Risk — Latah Valley, Spokane, WA
According to HUD data as of 2023, there were 470 mortgage originations in Latah Valley, Spokane, WA, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Latah Valley, Spokane, WA. Investor activity is low, as 1.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 470 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Latah Valley, Spokane, WA
As of 2024, the percent of homes in Latah Valley, Spokane, WA under the Section 8 program is 5.3%. 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. In Latah Valley, Spokane, 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 | 250 |
Total Units Section 8 | 250 |
% Rentals under Section 8 | 5.3% |
% Occupied Section 8 | 86.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$80 | $1,220 | $1,140 |
| 2 Bedroom | -$100 | $1,560 | $1,460 |
| 3 Bedroom | -$680 | $2,700 | $2,020 |
| 4 Bedroom | -$240 | $2,600 | $2,360 |
Affordability — Latah Valley, Spokane, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.7 |
| Median Home Price | $516,000 |
| Median Household Income | $76,800 |