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Market Intelligence

Spokane, WA

Updated quarterly · Data sourced from Zillow ZHVI/ZORI, Census ACS, and FHFA. · Washington overview

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Home Value

$415k-0.2%

Median Rent

$1,620+3.2%

Per month average

Gross Yield

4.68%

Annual rent / value

Rent / Price

0.390%

1% rule benchmark

HH Income

$72,000

Median household

Owner-Occ

64.0%

Renter-Occ

36.0%

Tenant demand share

Population

580k

Metro area census

Market Analysis

The Spokane, WA real estate market currently sits at a median home value of $415k with median rents around $1,620/month, producing a gross yield of 4.68%. That puts Spokane in the category of compressed gross yield, primarily an appreciation play. Over the past year, home values are down 0.2%, while rents rose 3.2%, the gap between those two trends is what determines whether yield compresses or expands over time for buy-and-hold investors in Washington. Spokane is an owner-occupier market (64% owner-occupied) where investor competition is generally lighter, with median household income of $72,000 setting the affordability ceiling on future rent growth.

Frequently asked questions

What is the average rent in Spokane, WA?
As of late 2025, the median rent in Spokane is approximately $1,620 per month, with rent growth of 3.2% year over year.
Is Spokane a good market for rental property investing?
Spokane produces a gross rental yield of about 4.68%. That is below the 7% LTR benchmark, so investors in Spokane typically combine modest cash flow with appreciation upside. Run your specific numbers in a calculator before committing capital.
What is the median home price in Spokane?
The median home value in Spokane, WA is approximately $415,000, down 0.2% from a year ago.
How have home prices changed in Spokane over the past year?
Home values in Spokane have moved -0.2% year over year, while rents have changed by 3.2%. This price-to-rent gap is the single biggest driver of long-term rental investor returns in the Washington market.
What is the rent-to-price ratio in Spokane?
Spokane has a rent-to-price ratio of 0.390%, meaning monthly rent is about 0.390% of the home's price. The "1% rule" used by buy-and-hold investors looks for 1.0%+; this market falls short of that bar, which is typical for most large US metros today.

Nearby Washington markets

Seattle, WA

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