Spanaway, WA

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Spanaway, WA Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Spanaway Housing Market Information

With 28,601 people, 10,220 houses or apartments, and a median cost of homes of $271,613, 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%).

Spanaway Home Appreciation Rates

Real estate appreciation rates in Spanaway's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.81% during the period.

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 8.47%, which is higher than appreciation rates in 89.85% 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 3.10%, which equates to an annual appreciation rate of 12.99%.

Importantly, this makes Spanaway one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to Washington, our data show that Spanaway's latest annual appreciation rate is higher than 50% 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.

Average Home Values


Median Home Value:


Value Range
> $1,437,000 0.5
$1,077,001 - $1,437,000 0.0
$718,001 - $1,077,000 1.2
$575,001 - $718,000 1.8
$431,001 - $575,000 5.5
$287,001 - $431,000 32.8
$143,001 - $287,000 47.2
$72,001 - $143,000 3.4
$0 - $72,000 7.6

Average for WA
High for Nation

Value Relative to Nation Value Relative to State
22.1839416058394 55.4770318021201

Number Of Homes And Apartments:

Spanaway Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
Latest Quarter:
2018 Q1 - 2018 Q2
Last 12 Months:
2017 Q2 - 2018 Q2
Last 2 Years:
2016 Q2 - 2018 Q2
Last 5 Years:
2013 Q2 - 2018 Q2
Last 10 Years:
2008 Q2 - 2018 Q2
Since 2000:
2000 Q1 - 2018 Q2
88.28% 3.48%
* 10 is highest

Rent & Ownership


Average Market Rent:
$2,129 / per month

Homeownership Rate

Owners 70.66
Renters 29.34
Vacant 7.33

Housing Market Details


Age of Homes

2000 or Newer 24.8
1970 - 1999 59.5
1940 - 1969 13.7
1939 or Older 2.0

Types of Homes

Single-Family 76.7
Townhomes 4.1
Small Apt. Buildings 6.3
Apt. Complexes 1.9
Mobile Homes 11.1
Other 0.0

Home Size

No Bedroom 0.48
1 Bedroom 1.66
2 Bedrooms 18.98
3 Bedrooms 57.52
4 Bedrooms 18.05
5 or more bedrooms 3.31