Spanaway, WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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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 Q1 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (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, 10,444 houses or apartments, and a median cost of homes of $280,436, 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 77.01% of the town's housing units. Other types of housing that are prevalent in Spanaway include mobile homes or trailers ( 9.75%), duplexes, homes converted to apartments or other small apartment buildings ( 6.11%), and a few row houses and other attached homes ( 4.25%).

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 69.44% of Spanaway's homes, and 72.58% 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 ( 28.14%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.85%). There's also some housing in Spanaway built before 1939 ( 2.27%).

Spanaway Home Appreciation Rates

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 20.63%, which ranks in the top 40% nationwide. This equates to an annual average Spanaway house appreciation rate of 1.89%.

NeighborhoodScout's data show that during the latest twelve months, Spanaway's appreciation rate, at 4.43%, has been at or slightly above the national average. In the latest quarter, Spanaway's appreciation rate has been -0.23%, which annualizes to a rate of -0.93%.

Relative to Washington, our data show that Spanaway's latest annual appreciation rate is lower than 70% 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:
$280,436

Spanaway, WA HOME PRICES

Value Range
> $1,379,000 0.4
$1,035,001 - $1,379,000 0.0
$690,001 - $1,035,000 1.2
$552,001 - $690,000 1.1
$414,001 - $552,000 8.6
$276,001 - $414,000 40.4
$138,001 - $276,000 35.7
$69,001 - $138,000 3.1
$0 - $69,000 9.4

Average for WA
High for Nation

Value Relative to Nation Value Relative to State
21.7226277372263 57.5971731448763

Number Of Homes And Apartments:
10,444

Spanaway Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
Since 2000:
2000 Q1 - 2019 Q1
96.64% 3.58%
4
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,821 / per month

Homeownership Rate

Homeownership
Owners 69.44
Renters 30.56
Vacant 7.25

Housing Market Details

 

Age of Homes

AGE OF Spanaway HOMES
2000 or Newer 28.1
1970 - 1999 53.7
1940 - 1969 15.9
1939 or Older 2.3

Types of Homes

TYPE OF Spanaway HOMES
Single-Family 77.0
Townhomes 4.3
Small Apt. Buildings 6.1
Apt. Complexes 2.9
Mobile Homes 9.8
Other 0.0

Home Size

SIZE OF Spanaway HOMES
No Bedroom 0.41
1 Bedroom 1.74
2 Bedrooms 20.37
3 Bedrooms 54.28
4 Bedrooms 18.30
5 or more bedrooms 4.89