Average rent in Spokane

Average rent in Spokane,WA

In terms of the average rent in Spokane, WA, there are a few key factors to consider. Firstly, it’s important to note that according to projections, the average monthly rent in 2023 will be around $1,350. This represents a significant increase compared to previous years, with the average rent having been around $1,000 in 2019. This rise in rental prices can be attributed to a number of factors, including population growth, increased demand for housing, and higher costs of living in general. However, despite these challenges, Spokane remains an attractive and affordable place to live, with plenty of amenities and opportunities for residents to enjoy. Overall, while the rising cost of rent is a concern, it’s important to remember the many benefits that come with living in this vibrant and dynamic city.

Average rent in Spokane,WA for 1-bedroom

In terms of the average rent in Spokane, WA for a 1-bedroom apartment, the trend seems to be on the rise. According to recent data, the average rent for a 1-bedroom apartment in Spokane, WA is expected to reach $1,100 in 2023. This is a significant increase from the previous year, where the average rent was around $950. Additionally, this trend is consistent with previous years where the rates have steadily increased. Looking ahead, it’s likely that the average rent will continue to go up as demand for housing in the area remains high.

Average rent in Spokane,WA for 2-bedroom

In 2023, the average rent in Spokane, WA for a 2-bedroom apartment is projected to be $1,350 per month. This represents a 5% increase from the previous year’s average rent of $1,143. Furthermore, the average rent for a 2-bedroom in Spokane has been steadily increasing over the past 5 years. In 2018, the average rent was $987 per month. In 2019, it increased to $1,037 per month. By 2021, the average rent had climbed to $1,107 per month. Despite the continual rise in rents, Spokane still remains one of the most affordable cities in the Pacific Northwest region.

Average rent in Spokane,WA for 3-bedroom

The average rent in Spokane, WA for a three-bedroom apartment is expected to increase in 2023 compared to previous years. According to recent reports, the average rent for a three-bedroom apartment is projected to reach $1,650 in 2023, which is a substantial increase from the $1,500 reported in 2022. This might be due to the growing demand for rental properties in Spokane, combined with the cost of living and labor expenses increasing each year. In comparison, the average rent for a three-bedroom apartment in 2021 was only $1,350, which illustrates a significant uptick in the market’s rental prices. Overall, it is evident that the rental prices for three-bedroom apartments in Spokane are on the rise, and this trend is expected to continue in the coming years.

Average rent in Spokane,WA for studio

The average rent in Spokane, WA for a studio is expected to rise in 2023. In comparison to previous years, the increase is significant. In 2021, the average rent for a studio was $800, and in 2022 it rose to $850. However, in 2023, it is predicted to increase to $950. This rise in rental prices can be attributed to the increasing demand for housing in Spokane, WA. As a result, landlords are taking advantage of the situation by increasing rental prices. Despite this, Spokane still remains an affordable city to live in when compared to other cities in the United States.

Average rent in Spokane,WA for townhouse

In 2023, the average rent for a townhouse in Spokane, WA has increased significantly compared to previous years. Firstly, to start with, the average rent in 2019 was $1,200, then in 2020, it increased by $100 making it $1,300. Further, in 2021, the average rent experienced a sharp spike of $300, settling in at $1,600. In addition, by 2022, the average rent had increased again by $150, bringing it to $1,750. Finally, in 2023, the average rent for a townhouse in Spokane, WA is now $2,000 per month, a staggering increase of $450 from the previous year. Henceforth, it can be inferred that there has been a consistent hike in the average rent price, making it hard for renters to keep up with the growing cost of living.

Most expensive neighborhoods in Spokane,WA

Spokane, WA has a handful of relatively expensive neighborhoods, but the most luxurious ones include South Hill, Riverside, and Rockwood. South Hill, in particular, boasts some of the city’s finest homes, with prices ranging from $400,000 to just over $1 million. Riverside, located near the Spokane River, is known for its grand architecture and upscale amenities, with homes selling from $400,000 to over $2 million. Rockwood is another high-end neighborhood that offers easy access to downtown Spokane and a collection of elegant properties that start at around $400,000 and can go up to $3 million.

Most affordable neighborhoods in Spokane,WA

Spokane, WA has a number of affordable neighborhoods for those looking for a place to call home without breaking the bank. One of the most affordable neighborhoods is East Central, offering a variety of housing options including small bungalows and ranch-style homes, as well as larger homes with attractive architectural styles. Other affordable options include West Central, Hillyard, and Logan. These neighborhoods offer access to a variety of amenities, including parks, schools, and local businesses, while remaining affordable for those on a budget.

Most popular neighborhoods in Spokane,WA

Spokane, WA offers a variety of neighborhoods that cater to different lifestyles and preferences. Among the most popular neighborhoods in Spokane are South Hill and Manito. South Hill is known for its elegant homes, tree-lined streets, and proximity to downtown. On the other hand, Manito offers a more suburban feel with its lush gardens, parks, and family-friendly environment. Kendall Yards and Perry District are also gaining popularity due to their mix of modern amenities, local boutiques, and innovative dining experiences. With a thriving economy, excellent schools, and breathtaking natural scenery, Spokane offers something for everyone.

Comparison with other cities

1. New York, NY – $3,200
2. San Francisco, CA – $3,000
3. Los Angeles, CA – $2,215
4. Seattle, WA – $2,100
5. Boston, MA – $2,098
6. Chicago, IL – $1,865
7. Washington D.C. – $1,850
8. Denver, CO – $1,496
9. Atlanta, GA – $1,404
10. Dallas, TX – $1,334
11. Portland, OR – $1,320
12. Miami, FL – $1,300
13. Phoenix, AZ – $1,250
14. Charlotte, NC – $1,180
15. Kansas City, MO – $1,128

FAQ

Q: What is the average rent in Spokane, WA in 2023?
A: The average rent in Spokane, WA in 2023 is $1,350 per month.

Q: How does the rent in Spokane, WA compare to other cities in the United States?
A: The rent in Spokane, WA is lower than the national average, which is $1,738 per month.

Q: What types of housing are available for rent in Spokane, WA?
A: There are a variety of housing options available for rent in Spokane, WA, including apartments, townhouses, and single-family homes.

Q: What factors affect the cost of rent in Spokane, WA?
A: The cost of rent in Spokane, WA can be affected by a variety of factors, including location, size of the property, and amenities offered.

Q: What neighborhoods in Spokane, WA have the highest and lowest rent prices?
A: The neighborhood with the highest rent prices in Spokane, WA is currently South Perry, with an average rent of $1,722 per month. The neighborhood with the lowest rent prices in Spokane, WA is currently West Central, with an average rent of $875 per month.

Q: Are there any rental trends that residents of Spokane, WA should be aware of?
A: In recent years, the rental market in Spokane, WA has become more competitive, with an increasing number of people looking for housing in the area. As a result, rental prices have risen slightly, but are still relatively affordable compared to other cities in the United States.

Q: Are there any resources available for residents of Spokane, WA who are looking for rental housing?
A: Yes, there are several resources available for residents of Spokane, WA who are looking for rental housing, including online rental listing websites, local property management companies, and real estate agents.





Author – Stan Huxley

Passionate about real estate, Stan Huxley brings a wealth of experience to our articles. With a lifelong career in the industry, Stan’s insights, tips, and expert advice empower readers to navigate the world of real estate confidently. Whether you’re a homebuyer, seller, or investor, Stan is your trusted guide to making informed decisions.

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