Spokane Real Estate
Affordable alternative to Seattle with growing tech sector, excellent healthcare, and vibrant downtown. Strong value proposition.
Market Analysis
Market Forecast
Strong growth expected with expanding tech sector and affordability attracting buyers from higher-cost markets.
What Drives Property Values
Affordability
Significantly more affordable than Seattle, attracting buyers seeking value and quality of life.
Growing Tech Sector
Expanding technology industry provides employment and attracts young professionals.
Healthcare and Education
Strong healthcare and education sectors provide stable employment base.
Revitalized Downtown
Downtown revitalization projects enhance property values and attract investment.
Outdoor Recreation Access
Proximity to parks, trails, and recreational facilities increases property appeal.
Sought-After Amenities & ROI Impact
interior Amenities
Historic Homes with Modern Updates
high demandUpdated Interiors
high demandexterior Amenities
Garage and Storage
medium demandlocation Amenities
Proximity to Parks
high demandCultural Venue Access
medium demandtechnology Amenities
Energy-Efficient Upgrades
medium demandLocation Factors
Economy
Major Employers
- •Providence Sacred Heart Medical Center
- •MultiCare Health System
- •Spokane Public Schools
- •Gonzaga University
- •Eastern Washington University
- •Spokane International Airport
Industries
Economic Stability: Diversified economy with strong healthcare and education sectors. Growing tech industry adds stability and growth potential.
Commute & Transportation
Average Commute Time
15-20 minutes
Transportation Options
- •Spokane Transit Authority (STA)
- •Spokane International Airport
- •Highway access (I-90, US-395)
- •Walkable downtown
Proximity: 4 hours to Seattle, 5 hours to Portland
Schools
District Rating
B+ ratingNotable Schools
- •Lewis and Clark High School
- •Ferris High School
- •Mead High School
- •Central Valley High School
Higher Education
- •Gonzaga University
- •Eastern Washington University
- •Washington State University Spokane
- •Spokane Community College
Demographics
Population
230,000+
Median Age
36 years
Lifestyle
Diverse community with urban amenities, outdoor recreation, and growing arts scene
Neighborhood Insights
South Hill
Historic area with charming homes, excellent schools, and vibrant community.
Characteristics
- •Historic charm
- •Top-rated schools
- •Vibrant community
- •Established area
- •Good value
Price Range
$400,000 - $700,000
Lifestyle: Ideal for families seeking historic charm and quality schools
Kendall Yards
Modern urban development with river views, walkability, and contemporary amenities.
Characteristics
- •Modern development
- •River views
- •Walkable
- •Urban amenities
- •Contemporary design
Price Range
$450,000 - $900,000
Lifestyle: Urban living with modern amenities and river access
Downtown Spokane
Revitalized downtown with historic buildings, cultural attractions, and growing residential options.
Characteristics
- •Historic buildings
- •Cultural attractions
- •Walkable
- •Growing residential
- •Urban living
Price Range
$300,000 - $600,000
Lifestyle: Urban living with cultural amenities and convenience
Investment Opportunities
Rental Market
Average Rent
$1,300 - $1,900/month
Rental Yield
4.5-5.5%
Demand
high demandAppreciation Potential
Potential
high potentialHistorical Rate
7% annually
Strong appreciation expected with tech sector growth and affordability attracting buyers
Equity Statistics
High Equity Homes
62%
Homes with over 50% equity
Fully Paid Off
25,000 properties
Good equity position with growing appreciation and affordable entry point
Investment Strategy
Strong investment potential with affordability and growth. Focus on properties near universities and medical centers for rental demand. Historic homes offer renovation opportunities.
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