Market Overview

Spokane and the surrounding area is designated by several sources as being in the top 10 "post COVID" cities to purchase in, live in and/or invest in. Our market has been red hot for most of the past 4 years. Inventory is very low with less than a 3 week supply of homes and rental vacancy rates are less then 1%. We recently were rated as the #1 city in the US for rental rate increases. The eviction mortarium has affected our market but it has also caused a good number of single family rentals to sold. The sales of these rental properties makes the single family home rental market even tighter. The rural feel and lifestyle we experience in the Spokane area makes it desirable for folks fleeing the major coastal cities; especially when they discovered they can live almost anywhere that offers reliable internet service. The motto of Spokane is "Near Nature, Near Perfect". We have lakes, mountains, rivers, deserts and everything in between within a 30-60 minute drive. I believe we do "social distancing" better than almost anywhere.

Investment Price Points

Entry level SFR homes start just under $200,000 but may require some improvements. The average price of single family homes has just surpassed the $400,000 mark. Starting price for a duplex rental is in the $350,000 range Triplexes and Fourplexes are typically $500,000 and above. Monthly rental rates: 1 bedroom are in the $1000/mo range | 2 bedroom are $1200-$1500/month | 3+ bedroom is almost a "name your price" scenario.