Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 28,601, 10,220 total housing units (homes and apartments), and a median house value of $286,122, Spanaway real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Spanaway, accounting for 76.67% of the town's housing units. Other types of housing that are prevalent in Spanaway include mobile homes or trailers ( 11.07%), duplexes, homes converted to apartments or other small apartment buildings ( 6.27%), and a few row houses and other attached homes ( 4.05%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Spanaway. Owner-occupied housing accounts for 70.66% of Spanaway's homes, and 75.57% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Spanaway built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Spanaway built between 2000 and later ( 24.82%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.72%). There's also some housing in Spanaway built before 1939 ( 1.97%).
Appreciation rates for homes in Spanaway have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 18.71%, which ranks in the top 40% nationwide. This equates to an annual average Spanaway house appreciation rate of 1.73%.
Appreciation rates are so strong in Spanaway that despite a nationwide downturn in the housing market, Spanaway real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Spanaway appreciation rates continue to be some of the highest in America, at 11.49%, which is higher than appreciation rates in 96.63% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Spanaway. Spanaway appreciation rates in the latest quarter were at 5.12%, which equates to an annual appreciation rate of 22.13%.
Importantly, NeighborhoodScout’s exclusive research found that Spanaway's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.
Relative to Washington, our data show that Spanaway's latest annual appreciation rate is higher than 60% of the other cities and towns in Washington.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Spanaway differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Spanaway - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Spanaway real estate investment or home purchase decisions.
|$1,135,001 - $1,513,000||0.0|
|$757,001 - $1,135,000||1.2|
|$605,001 - $757,000||1.8|
|$454,001 - $605,000||5.5|
|$302,001 - $454,000||32.8|
|$151,001 - $302,000||47.2|
|$76,001 - $151,000||3.4|
|$0 - $76,000||7.6|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2018 Q2 - 2018 Q3
Last 12 Months:
2017 Q3 - 2018 Q3
Last 2 Years:
2016 Q3 - 2018 Q3
Last 5 Years:
2013 Q3 - 2018 Q3
Last 10 Years:
2008 Q3 - 2018 Q3
2000 Q1 - 2018 Q3
|* 10 is highest|
|AGE OF Spanaway HOMES|
|2000 or Newer||24.8|
|1970 - 1999||59.5|
|1940 - 1969||13.7|
|1939 or Older||2.0|
|TYPE OF Spanaway HOMES|
|Small Apt. Buildings||6.3|
|SIZE OF Spanaway HOMES|
|5 or more bedrooms||3.31|