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  4. /Spokane Valley, WA - 99216

Spokane Valley, WA—99216

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$414,000
0.2% YoY Growth
Household Income
$70,000
56.2% YoY Growth
Days on Market
36
34.0% Longer YoY
Home Price Forecast
-0.5%
Median Rent
$1,340
16.1% YoY Growth
1-Bed Rent
$1,250
12.4% YoY Growth
2-Bed Rent
$1,320
10.3% YoY Growth
3-Bed Rent
$1,950
1.5% YoY Growth

Other Zip Codes in Spokane Valley, WA

99212992069901699037
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Spokane Valley, WA

As of May '26, the median home price in Spokane Valley, WA is $414,000, with a year-over-year change of 0.2%. This indicates that home prices in Spokane Valley, WA are flat. According to Zillow, the 1-year price projection is -0.5%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$414,0000.2%
Single Family $415,0000.2%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$359,0000.6%
    3 Bed
    		$410,0000.2%
    4 Bed
    		$439,0000.0%
    5 Bed $478,6930.0%
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    % of Housing Stock

    Studio
    3.6%
    1 Bedroom
    17.2%
    2 Bedrooms
    26.7%
    3 Bedrooms
    29.9%
    4 Bedrooms
    16.5%
    5+ Bedrooms
    6.1%

    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.

    TypeMedian RentAverage Rent
    Average Rent$1,340$1,510
    Studio Rent N/AN/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
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    % of Rental Stock

    Studio
    3.4%
    1 Bedroom
    30.9%
    2 Bedrooms
    39.4%
    3 Bedrooms
    20.1%
    4 Bedrooms
    4.6%
    5+ Bedrooms
    1.7%

    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 34.0% 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 29.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$450,000-5.0%
    Listing Count
    		68-4.0%
    Listings as % of Homes0.3%-4.0%
    Days on Market
    		3634.0%
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    Demographics — Spokane Valley, WA

    As of the latest ACS Survey released in 2023, Spokane Valley, WA has a population of 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.

    MetricLatest CensusYoY % Change
    Population
    		28,1007.5%
    % Under 18
    		20.8%-6.3%
    % Seniors
    		17.9%4.1%
    % WFH
    		11.7%165.9%
    % w/ College Degree
    		21.8%4.3%
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    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
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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 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 SizeHUD PremiumMarket RentMax 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

    MetricZip Code Average
    Home Price to Income Ratio5.8
    Median Home Price$414,000
    Median Household Income$70,000

    Spokane Valley, WA — ZIP Code Boundary Map

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    Frequently Asked Questions