Spokane Real Estate: Why This Underrated Market Is Turning Heads in 2025
Spokane Real Estate: Why This Underrated Market Is Turning Heads in 2025
Blog Article
If you haven’t been paying attention to Spokane real estate, it’s time to take a closer look. Tucked away in eastern Washington, Spokane has quietly become one of the most exciting real estate markets in the Pacific Northwest. With affordable home prices, a growing economy, and a lifestyle that blends outdoor adventure with urban culture, Spokane offers a rare mix of opportunity and charm.
In this in-depth guide, we’ll explore what makes Spokane real estate so appealing, whether you’re a first-time buyer, a savvy investor, or someone looking to relocate to a city that still has room to grow.
What Makes Spokane So Special?
Spokane isn’t your typical real estate hotspot. It doesn’t have the name recognition of Seattle or Portland—but that’s exactly the point. This city of about 230,000 residents offers a high quality of life, without the sky-high price tags you’ll find elsewhere in the region.
Here’s what sets Spokane apart:
Affordable housing compared to most West Coast cities
Booming tech and healthcare sectors driving job growth
Abundant green space with access to lakes, mountains, and trails
Strong sense of community and low traffic congestion
Highly rated schools and family-friendly neighborhoods
As people flee overcrowded urban centers in search of space, affordability, and flexibility, Spokane has emerged as a top alternative.
Spokane Real Estate Market in 2025: What You Need to Know
The Spokane real estate market has experienced a remarkable transformation over the past decade. What was once a quiet, overlooked city is now seeing robust demand from both locals and out-of-state buyers—especially remote workers and investors looking for high returns.
Market Snapshot (2025):
Median home price: $395,000
Year-over-year price increase: ~8%
Average days on market: 10–15
Rental vacancy rate: Under 3%
Top buyers: Young professionals, families, and investors from California, Oregon, and Seattle
Even with rising prices, Spokane remains one of the most affordable housing markets in Washington—making it a strategic location for real estate investment.
The Best Neighborhoods in Spokane for Homebuyers & Investors
South Hill
A classic Spokane favorite. This tree-lined neighborhood offers historic charm, top-rated schools, and proximity to downtown. Think Craftsman homes, quiet streets, and a tight-knit community.
Kendall Yards
Trendy and walkable, Kendall Yards is Spokane’s answer to modern urban living. With stunning views of the Spokane River, upscale eateries, and new housing options, it’s a magnet for young professionals.
Spokane Valley
If you want more space for your money, head east to Spokane Valley. This suburban area is great for families and boasts newer developments, shopping centers, and quick freeway access.
North Spokane
Affordable, accessible, and full of potential. This area is a favorite for first-time homebuyers and offers solid returns for landlords.
Liberty Lake
Upscale, peaceful, and popular with families and retirees alike. Homes here tend to be newer, with larger lots and access to recreation.
Spokane Real Estate for Investors: High Yields, Low Risk?
From single-family rentals to short-term vacation homes, Spokane offers a wide range of investment opportunities. With rental demand surging and vacancy rates at historic lows, the returns can be impressive.
Top Investment Strategies:
Buy-and-hold rentals in high-demand neighborhoods like South Hill or Spokane Valley
Duplexes and triplexes for cash flow and appreciation
Short-term rentals (Airbnb/VRBO) near downtown or Gonzaga University
Fix-and-flip projects in up-and-coming areas like West Central
Thanks to Spokane’s landlord-friendly regulations and growing population, investors are increasingly turning to this market as a safer, more sustainable alternative to over-saturated cities.
What to Know Before Buying in Spokane
If you're entering the Spokane real estate market for the first time, here are a few smart tips to keep in mind:
Get pre-approved before you shop—homes move fast here.
Hire a local real estate agent who knows the Spokane micro-markets.
Look beyond the listing—many of the best deals are off-market or word-of-mouth.
Pay attention to zoning laws if you're investing in multi-family properties.
Keep an eye on seasonal trends—spring and summer are the hottest buying months.
The Future of Spokane Real Estate
The outlook for Spokane real estate remains strong. As Washington’s west coast cities become increasingly unaffordable, more people are discovering Spokane’s winning combination of value, beauty, and lifestyle.
City infrastructure is improving, more businesses are relocating to the area, and new residential developments are underway. And with remote work here to stay, Spokane’s appeal as a “lifestyle city” will only continue to rise.
Whether you're looking to plant roots, build a real estate portfolio, or simply escape the chaos of bigger metros, Spokane might just be your perfect match.
In a world where housing prices are soaring and urban stress is rising, Spokane real estate offers a refreshing change of pace. It’s affordable, dynamic, and full of untapped potential.
Don’t wait until the rest of the country catches on. Spokane is growing—and getting in now could be one of the smartest moves you make in 2025.