Spokane housing market
Typical home value
$415K
▲ 0.2% 1 yr
Typical rent
$1,512/mo
▲ 3.6% 1 yr
12-month forecast
+0.2%
#451 of 546 metros
Gross rent yield
4.4%
#478 of 546 · U.S. 6.3%
Days to pending
55 days
▲ +9 days 1 yr
Listings with a price cut
30%
▼ −2.3 pts 1 yr
Key takeaways
- 1The typical home is worth $415,045, up 0.2% in a year and up 9% over five years.
- 2Zillow forecasts home values rising 0.2% over the next 12 months (U.S.: +1.1%).
- 3Typical rent is $1,512/mo (+3.6% YoY), a 4.4% gross yield, below the U.S. 6.3%.
- 4At 7.32% with 20% down, the typical home costs $2,281/mo in principal and interest, $769 more than renting.
- 5Homes go under contract in 55 days (+9 days vs last year); 30% of listings have had a price cut.
Market temperature
Strong buyer's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 25/100, #493 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
How fast homes are selling
For saleNew listings
Affordability
To buy (20% down)To rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Spokane compares
| Measure | Spokane | United States | Rank of 546 |
|---|---|---|---|
| Home value, 1-yr change | +0.2% | +1.2% | #431 |
| Home value, 5-yr change | +8.8% | +19.7% | |
| 12-month forecast | +0.2% | +1.1% | #451 |
| Rent, 1-yr change | +3.6% | +2.7% | #244 |
| Gross rent yield | 4.4% | 6.3% | #478 |
| Price-to-rent ratio | 22.9 | 15.8 | |
| Mortgage P&I on typical home | $2,281 | $2,012 | |
| Income needed to buy | $113,479 | $100,902 | |
| Days to pending | 55 | 56 |
Cities in the Spokane metro
3 cities with home value and rent data.
| Spokane | $393K | ▼ 0.3% | $1,483 | ▲ 4.0% | 4.5% |
| Spokane Valley | $408K | ▲ 0.4% | $1,525 | ▲ 1.6% | 4.5% |
| Cheney | $416K | ▼ 0.5% | $1,343 | ▲ 3.5% | 3.9% |
Run the numbers
Rental property calculator
Cash flow on a typical Spokane rental ($415K, $1,512/mo), pre-filled.
Mortgage calculator
Monthly payment on a typical Spokane home.
Rent vs buy
Is it cheaper to rent or buy in Spokane?
Other Washington metros
Seattle, WA
$720K home$2,250 rent3.7% yield
▼ 1.6% 1 yr
Kennewick, WA
$437K home$1,695 rent4.7% yield
▲ 0.4% 1 yr
Olympia, WA
$521K home$2,043 rent4.7% yield
▲ 0.1% 1 yr
Bremerton, WA
$579K home$2,052 rent4.3% yield
▲ 1.1% 1 yr
Yakima, WA
$348K home$1,362 rent4.7% yield
▲ 0.5% 1 yr
Bellingham, WA
$608K home$1,951 rent3.9% yield
▲ 0.3% 1 yr
Mount Vernon, WA
$576K home$2,185 rent4.5% yield
▲ 0.7% 1 yr
Wenatchee, WA
$518K home$1,756 rent4.1% yield
▲ 0.8% 1 yr
Gross yield = 12 × typical rent ÷ typical home value, before expenses. Mortgage estimate: 20% down, 30-year fixed at the current Freddie Mac average, principal and interest only. Forecast: Zillow Home Value Forecast. Data refreshed Oct 26, 2026.