Spokane rents and rental comps

Name: Spokane, WA rental market data
Creator: PropMetrics

The median asking rent across 14 Spokane zip codes is $1,468/month, down 7.3% from a year ago.

Remote workers from Seattle and Portland discovered Spokane during COVID and forgot to leave. Still meaningfully cheaper than both, with real rental demand behind the growth instead of just pandemic noise.

Median Asking Rent

$1,468

Rent Change (YoY)

-7.3%

Avg Days on Market

Active Rental Listings

1,120

Median List Price

$429,450

Median Asking Rent Over Time

Average across 14 zip codes

12 months-2.0%

Median Asking Rent by ZIP Code

Rental Listings by ZIP Code

ZIP	Median Rent	YoY Growth	$/Sqft	Avg DOM	Listings
99203	$2,195/mo	+15.5%	$1.26	16	49
99208	$1,895/mo	-12.5%	$1.36	40	94
99218	$1,695/mo	-5.6%	$1.46	85	58
99205	$1,595/mo	-5.9%	$1.41	32	101
99217	$1,595/mo	0.0%	$1.47	58	39
99224	$1,595/mo	-0.3%	$1.60	41	42
99212	$1,545/mo	+9.4%	$1.42	22	49
99206	$1,495/mo	-9.4%	$1.50	49	97
99223	$1,495/mo	-21.1%	$1.46	39	78
99207	$1,350/mo	-18.2%	$1.45	40	130
99216	$1,350/mo	-10.0%	$1.49	56	76
99202	$1,295/mo	-7.5%	$1.54	51	84
99204	$1,150/mo	-9.8%	$1.57	59	113
99201	$1,050/mo	-27.5%	$1.65	89	110

Comps for any address in Spokane

Type the address, get the comps. No setup.

Median Asking Rent by Bedroom

Unit Size	Median Rent	$/Sqft
Studio	$900/mo	$1.92/sqft
1 Bedroom	$1,050/mo	$1.74/sqft
2 Bedroom	$1,298/mo	$1.44/sqft
3 Bedroom	$1,973/mo	$1.35/sqft
4 Bedroom	$2,450/mo	$1.23/sqft

Aggregated median across all Spokane zip codes with available data.

For-Sale Listings by ZIP Code

ZIP	Median List Price	YoY Change	$/Sqft
99223	$575,000	+7.5%	$225.96
99203	$570,000	-0.9%	$235.27
99218	$510,000	-4.8%	$189.63
99224	$499,900	+2.2%	$254.38
99208	$485,000	-5.8%	$211.01
99216	$450,000	+0.2%	$205.42
99206	$449,000	-0.2%	$210.98
99212	$409,900	-3.8%	$216.35
99204	$399,000	-23.3%	$199.92
99217	$395,000	-8.1%	$230.23
99201	$359,000	-9.1%	$220.79
99205	$340,000	-2.9%	$193.02
99202	$330,000	-2.7%	$223.50
99207	$309,000	-1.9%	$190.88

HUD Fair Market Rents

Unit Size	Fair Market Rent	Median Asking Rent	Difference
Studio	$970/mo	$900/mo	-7%
1 Bedroom	$1,040/mo	$1,050/mo	+1%
2 Bedroom	$1,340/mo	$1,298/mo	-3%
3 Bedroom	$1,830/mo	$1,973/mo	+8%
4 Bedroom	$2,190/mo	$2,450/mo	+12%

HUD publishes Fair Market Rents once a year for the Spokane metro area. Local housing authorities use them to set Section 8 voucher payment standards, usually 90% to 110% of the FMR.

About the Spokane rental market

The median asking rent across Spokane, WA sits at $1,468/month, pulled from active rental listings in 14 zip codes. That's down 7.3% from a year ago.

Rents aren't uniform across the city. ZIP 99203 tops the list at $2,195/month. ZIP 99201 comes in lowest at $1,050/month. That's a 109% spread between the top and bottom zip codes, which is wide. City-wide averages won't tell you much about a specific property here.

A 2-bedroom rents for $1,298/month at the median. 1-bedrooms run about $1,050. 3-bedrooms come in around $1,973.

Listings take longer here. The average is 48 days on market, which gives renters more room to negotiate and means landlords should price carefully.

Rent-to-price math is tight in Spokane. The gross figure sits at about 4.1% ($1,468/month against $429,450 median price). Most investors here are betting on appreciation, not monthly cash flow.

HUD's Fair Market Rent for a 2-bedroom in the Spokane metro is $1,340/month. Asking rents track close to the federal benchmark, within 10%.

Spokane got discovered during the remote work wave. People from Seattle and Portland realized they could live here for a fraction of the cost, and rents went up accordingly. Still more affordable than the west side of the state, but the gap has narrowed. South Hill and the area around Gonzaga are premium. North Spokane and the west side are cheaper. Washington tenant protection laws apply here same as Seattle. Know the rules. The economy runs on healthcare (Providence, MultiCare), education, and remote workers. Smaller market with less liquidity than a major metro, which makes pricing accuracy more important. Fewer renters are searching at any given time.

These numbers are city-wide averages. If you're pricing a specific property in Spokane, pull comps from the same zip code. The spread is usually bigger than people expect.