Spokane Valley, WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Spokane Valley, 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

Spokane Valley Housing Market Information

With 96,340 people, 38,241 houses or apartments, and a median cost of homes of $228,718, Spokane Valley real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Spokane Valley, accounting for 60.31% of the city's housing units. Other types of housing that are prevalent in Spokane Valley include large apartment complexes or high rise apartments ( 22.70%), mobile homes or trailers ( 6.27%), and a few row houses and other attached homes ( 6.20%).

The most prevalent building size and type in Spokane Valley are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.05% owning and 40.95% renting.

There is a lot of housing in Spokane Valley 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 Spokane Valley built between 1940-1969 ( 26.05%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.79%). There's also some housing in Spokane Valley built before 1939 ( 5.88%).

Spokane Valley Home Appreciation Rates

Appreciation rates for homes in Spokane Valley have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 10.55%, which ranks in the top 50% nationwide. This equates to an annual average Spokane Valley house appreciation rate of 1.01%.

Appreciation rates are so strong in Spokane Valley that despite a nationwide downturn in the housing market, Spokane Valley real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Spokane Valley appreciation rates continue to be some of the highest in America, at 7.08%, which is higher than appreciation rates in 77.46% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Spokane Valley. Spokane Valley appreciation rates in the latest quarter were at 3.73%, which equates to an annual appreciation rate of 15.79%.

Importantly, NeighborhoodScout’s exclusive research found that Spokane Valley'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 Spokane Valley's latest annual appreciation rate is lower 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 city. Individual neighborhoods within Spokane Valley differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Spokane Valley - 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 Spokane Valley real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$228,718

Spokane Valley, WA HOME PRICES

Value Range
> $1,305,000 0.6
$978,001 - $1,305,000 0.4
$652,001 - $978,000 0.8
$522,001 - $652,000 1.9
$392,001 - $522,000 5.9
$261,001 - $392,000 23.9
$131,001 - $261,000 53.8
$65,001 - $131,000 6.7
$0 - $65,000 6.0

Low for WA
High for Nation

Value Relative to Nation Value Relative to State
29.2350364963504 65.3710247349823

Number Of Homes And Apartments:
38,241

Spokane Valley Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
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
85.43% 3.39%
5
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,167 / per month

Homeownership Rate

Homeownership
Owners 59.05
Renters 40.95
Vacant 5.43

Housing Market Details

 

Age of Homes

AGE OF Spokane Valley HOMES
2000 or Newer 16.8
1970 - 1999 51.3
1940 - 1969 26.0
1939 or Older 5.9

Types of Homes

TYPE OF Spokane Valley HOMES
Single-Family 60.3
Townhomes 6.2
Small Apt. Buildings 4.5
Apt. Complexes 22.7
Mobile Homes 6.3
Other 0.0

Home Size

SIZE OF Spokane Valley HOMES
No Bedroom 1.17
1 Bedroom 10.07
2 Bedrooms 29.88
3 Bedrooms 33.53
4 Bedrooms 18.27
5 or more bedrooms 7.09