Is Spokane County, WA good for real estate investing?

Spokane County has an investment score of 44/100, rated as "Avoid". The county ranks #902 nationally among 1000 counties analyzed.

What is the rent-to-price ratio in Spokane?

The rent-to-price ratio in Spokane County is 4.39% annually, which ranks in the 12th percentile nationally. Higher ratios indicate better cash flow potential.

What is the median home price in Spokane?

The median home price in Spokane County is $412,282. This ranks #823 in affordability among all US counties.

Can you cash flow on rental properties in Spokane?

Based on median values with 20% down at current rates, a typical rental in Spokane County would generate negative cash flow of $1,180/month. Individual property performance varies based on purchase price, rent, and operating expenses.

Spokane County

WashingtonPopulation: 538,711

/100

Avoid

#902 of 1,000 counties

#27 in Washington (39 counties)

Market Snapshot

$412,282

Median Home Price

51% above national median

$1,510/mo

Median Rent

1% above national median

4.39%

Rent-to-Price Ratio

Top 88% nationally

-$1,180

Est. Monthly Cash Flow

With 20% down at 6.9% rate

Price History

Trend based on YoY growth rate. Source: Zillow ZHVI/ZORI

Quick Investment Calculator

Down Payment20%

5%50%100%

Purchase

Purchase Price$412,282

Down Payment (20%)$82,456

Loan Amount$329,826

Interest Rate6.85%

Monthly Cash Flow

Gross Rent+$1,510

Monthly P&I-$2,161

Est. Expenses (35%)-$528

Net Cash Flow-$1,180/mo

2.9%

Cap Rate (all cash)

-14.9%

Cash-on-Cash Return

4.39%

Rent-to-Price Ratio

Negative leverage: At 6.85% rates, borrowing costs exceed the 2.9% cap rate. All-cash buyers may see better returns.

* Based on county median values. 35% expenses include taxes, insurance, maintenance, vacancy, and property management. Actual results vary by property.

Run Full Analysis Try House Hack Strategy

Score Breakdown

Overall Investment Score

44/100

Cash Flow(30%)

36/100

Based on 4.39% rent-to-price ratio. Higher ratios indicate stronger cash flow potential.

Appreciation(25%)

50/100

Based on -0.1% YoY price growth. Moderate growth (3-8%) scores highest.

Stability(25%)

50/100

Population data not available.

Affordability(20%)

42/100

Price-to-income ratio of 5.9x. Lower ratios indicate more affordable markets.

Scores are calculated using real Zillow home value and rent data, Census population data, and economic indicators. The weighted average produces the overall investment score. Markets with missing rent data use estimated values based on regional averages.

Investment Outlook

Strengths

+Complete rent data available

Challenges

-Below-average rent-to-price ratio (4.39%)
-Declining home values (-0.1% YoY)
-Negative cash flow at typical financing (-$1,180/mo)
-Negative leverage (cap rate 2.9% < mortgage rate 6.9%)

Economic Indicators

Population

538,711

Median Income

$70,394

vs $62,400 national est.

Unemployment Rate

—

Data pending

Price-to-Income

5.9x

Less affordable

Compare to Nearby Counties

County					Verdict
SkagitWA	45	$570,386	$2,068	4.35%	Hold	View
ClallamWA	45	$486,379	$1,819	4.49%	Hold	View
CurrentSpokaneWA	44	$412,282	$1,510	4.39%	Avoid
CowlitzWA	44	$410,147	$1,468	4.30%	Avoid	View
PierceWA	42	$555,177	$1,957	4.23%	Avoid	View
ClarkWA	42	$537,646	$1,898	4.24%	Avoid	View

The Bottom Line

AvoidSpokane may be challenging for traditional rentals. High prices or low rents make cash flow difficult.

Spokane County in Washington scores 44/100, ranking #902 of 1,000 US counties (top 90%). The 4.39% rent-to-price ratio may require creative strategies or below-market purchases for positive cash flow. Current market conditions make traditional buy-and-hold investing challenging. Consider house hacking, value-add strategies, or all-cash purchases.

Monthly Cash Flow

$-1,180/mo

Cap Rate

2.9%

Cash-on-Cash

-14.9%

Ready to Analyze a Deal in Spokane?

Use our investment calculators to run detailed numbers on specific properties.

Single Family1-4 unit rentals, BRRRR House HackOwner-occupied strategy Multifamily5+ unit properties

Explore Other Markets

Quick Investment Calculator

Down Payment20%

5%50%100%

Purchase

Purchase Price$412,282

Down Payment (20%)$82,456

Loan Amount$329,826

Interest Rate6.85%

Monthly Cash Flow

Gross Rent+$1,510

Monthly P&I-$2,161

Est. Expenses (35%)-$528

Net Cash Flow-$1,180/mo

2.9%

Cap Rate (all cash)

-14.9%

Cash-on-Cash Return

4.39%

Rent-to-Price Ratio

Negative leverage: At 6.85% rates, borrowing costs exceed the 2.9% cap rate. All-cash buyers may see better returns.

* Based on county median values. 35% expenses include taxes, insurance, maintenance, vacancy, and property management. Actual results vary by property.

Run Full Analysis Try House Hack Strategy

Score Breakdown

Overall Investment Score

44/100

Cash Flow(30%)

36/100

Based on 4.39% rent-to-price ratio. Higher ratios indicate stronger cash flow potential.

Appreciation(25%)

50/100

Based on -0.1% YoY price growth. Moderate growth (3-8%) scores highest.

Stability(25%)

50/100

Population data not available.

Affordability(20%)

42/100

Price-to-income ratio of 5.9x. Lower ratios indicate more affordable markets.

County

Verdict

SkagitWA

$570,386

$2,068

4.35%

Hold

View

ClallamWA

$486,379

$1,819

4.49%

Hold

View

CurrentSpokaneWA

$412,282

$1,510

4.39%

Avoid

CowlitzWA

$410,147

$1,468

4.30%

Avoid

View

PierceWA

$555,177

$1,957

4.23%

Avoid

View

ClarkWA

$537,646

$1,898

4.24%

Avoid

View

The Bottom Line

AvoidSpokane may be challenging for traditional rentals. High prices or low rents make cash flow difficult.

Monthly Cash Flow

$-1,180/mo

Cap Rate

2.9%

Cash-on-Cash

-14.9%