Is Spokane a Good Place to Invest in Real Estate?
- Nick Briggs
- 2 days ago
- 4 min read
As a real estate agent in Spokane, I love helping people make smart property decisions. Choosing the right location for a real estate investment is essential to long-term success, and Spokane has increasingly become a hot topic in investment circles. If you are wondering "Is Spokane a Good Place to Invest in Real Estate?" then this article is for you!
Spokane's Growing Popularity
Spokane has quietly transformed into one of the most promising real estate markets in the Pacific Northwest. The city has been experiencing steady growth due to its affordable cost of living, access to outdoor recreation, and a growing job market. More people are discovering Spokane’s charm, making it a city on the rise.
Affordable Real Estate Market
Compared to major West Coast cities like Seattle, Portland, and San Francisco, Spokane offers incredibly affordable real estate prices. This lower barrier to entry attracts first-time investors, retirees, and even out-of-state buyers looking for better ROI.
Economic Development in Spokane
Spokane is not just growing in population — its economy is diversifying as well. Healthcare, education, manufacturing, and tech are all thriving here. The city has seen both government and private investments aimed at infrastructure development and economic stimulation, which contribute to a stable market for investors.
Spokane's Rental Market
With the influx of new residents, Spokane’s rental market has tightened. Vacancy rates are low, and rent prices have been increasing steadily. This high demand creates strong opportunities for investors looking for consistent cash flow and high occupancy rates.
Real Estate Appreciation Trends
Over the past decade, Spokane’s real estate market has shown significant appreciation. Homes that were once priced under $200,000 are now pushing well beyond that, giving early investors healthy returns. Market analysts forecast continued, albeit moderate, growth over the next 5–10 years.
Quality of Life as a Growth Driver
Spokane offers residents a high quality of life. With easy access to rivers, lakes, mountains, and hiking trails, it's perfect for outdoor lovers. The city also boasts strong healthcare services and a vibrant cultural scene—all of which help attract and retain residents.
Neighborhoods to Watch in Spokane
Several neighborhoods in Spokane are gaining traction among investors:
South Hill
Known for its historic homes and friendly atmosphere.
Kendall Yards/West Central
A modern urban neighborhood with restaurants, retail, and new developments.
North Spokane
Offers affordable properties with high rental demand.
Real Estate Investment Types Available
Investors in Spokane can choose from a variety of property types:
Single-Family Homes
Great for long-term appreciation and rental income.
Multi-Family Units
Popular among experienced investors for maximizing cash flow.
Commercial Properties
Opportunities are emerging in retail and office spaces, particularly in growth corridors.
Real Estate Taxes and Regulations
Spokane has a relatively investor-friendly tax environment. Property taxes are moderate compared to coastal markets. The city is also open to short-term rentals, although zoning laws should be reviewed case by case.
Risks to Consider Before Investing
Like any market, Spokane comes with risks. Real estate prices have risen sharply in recent years, and although growth is projected to continue, market corrections are always a possibility. Environmental factors such as wildfire zones and water management also require consideration.
Success Stories from Spokane Investors
One out-of-state investor bought a duplex in North Spokane in 2019. Within three years, the property appreciated by 40%, and rental income covered the mortgage and yielded a profit. Another first-time buyer turned a South Hill fixer-upper into a profitable short-term rental.
Tips for Investing in Spokane Real Estate
To maximize your success, work with a knowledgeable local agent (someone like me!). Research neighborhoods carefully, evaluate property conditions, and consider future development plans in the area.
How Spokane Compares to Other Cities
Spokane outperforms similar-sized cities in terms of appreciation and rental returns:
Spokane vs. Boise
While Boise’s growth has plateaued, Spokane is still climbing steadily.
Spokane vs. Seattle
Spokane offers better affordability and less competition for deals.
Market Outlook for 2025 and Beyond
Population forecasts predict steady growth as more people move inland from coastal cities. Spokane is preparing for this demand with new construction projects, but housing supply remains limited, which could drive property values even higher.
Is Spokane a Good Place to Invest in Real Estate?
The answer is a resounding yes. With strong appreciation, a growing rental market, and ongoing economic development, Spokane presents a solid opportunity for both novice and experienced investors. If you're considering making a move, let’s connect—I’d be happy to help guide you through the process.
FAQs
What is the average home price in Spokane? As of early 2025, the median home price in Spokane is around $427,000, though this varies by neighborhood.
Is Spokane a good market for rental property? Yes. High demand and limited rental inventory make Spokane ideal for rental property investments.
What types of real estate are best for investing in Spokane? Single-family homes and multi-family units offer strong returns, but commercial properties are also gaining traction.
How can I find a good investment property in Spokane? Partnering with a local real estate agent (like me) can help you find deals and evaluate the best neighborhoods.
Is Spokane’s market expected to keep growing? Experts predict steady population and job growth, supporting a healthy real estate market for years to come.
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About Me
My name is Nick Briggs
Being born and raised in Spokane I grew up knowing what a special place this city is, and it was my dream to help others create a life in this wonderful community by guiding them in real estate. I spent many years in the customer service industry, the experience of listening and communication showed me how much I truly loved helping people. I attended Gonzaga University and earned a Bachelor’s Degree in Business Administration to add to my knowledge of guiding, managing, negotiating, and listening to individuals, helping them achieve their real estate goals. Let me help you achieve yours today!
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