Cities with the fastest growing home prices in Spokane metro area

Written by:
January 19, 2023
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Cities with the fastest growing home prices in Spokane metro area

It goes without saying that the coronavirus pandemic has sparked a wave of uncertainty across myriad industries, and no other market has quite felt its impact like that of real estate.

The pandemic has become a driving force behind the continued real estate boom, with high demand for vacation homes and a limited supply of housing that has prompted buyers and investors to bid up prices for affordable properties, causing home prices to skyrocket. The ability to work remotely played a role in the vacation home demand in mid-2020, as affluent Americans opted to ride out the pandemic with more amenities and space outside dense urban areas.

Stacker compiled a list of cities with the fastest-growing home prices in Spokane-Spokane Valley, WA metro area using data from Zillow. Cities are ranked by 1-year price change as of December 2022. The typical home value in the United States increased over the last year by +8.4%% to $356,819. Data was available for 37 cities and towns in Spokane.

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Stacker

#30. Chewelah, WA

- 1-year price change: +$16,169 (+4.7%)
- 5-year price change: +$97,829 (+37.1%)
- Typical home value: $361,671 (#27 most expensive city in metro)
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Stacker

#29. Colville, WA

- 1-year price change: +$16,447 (+5.1%)
- 5-year price change: +$96,901 (+39.9%)
- Typical home value: $340,001 (#29 most expensive city in metro)
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#28. Spokane, WA

- 1-year price change: +$17,487 (+4.6%)
- 5-year price change: +$194,911 (+95.9%)
- Typical home value: $398,126 (#20 most expensive city in metro)
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#27. Cheney, WA

- 1-year price change: +$17,727 (+4.3%)
- 5-year price change: +$192,578 (+82.1%)
- Typical home value: $427,158 (#15 most expensive city in metro)
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#26. Addy, WA

- 1-year price change: +$19,204 (+5.6%)
- 5-year price change: +$107,453 (+42.0%)
- Typical home value: $363,367 (#26 most expensive city in metro)

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#25. Tumtum, WA

- 1-year price change: +$19,473 (+6.6%)
- 5-year price change: +$108,201 (+53.0%)
- Typical home value: $312,306 (#30 most expensive city in metro)
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#24. Rice, WA

- 1-year price change: +$19,650 (+5.4%)
- 5-year price change: +$115,768 (+43.7%)
- Typical home value: $380,983 (#21 most expensive city in metro)
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#23. Airway Heights, WA

- 1-year price change: +$20,287 (+5.8%)
- 5-year price change: +$176,731 (+92.0%)
- Typical home value: $368,791 (#24 most expensive city in metro)
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#22. Elk, WA

- 1-year price change: +$20,654 (+4.6%)
- 5-year price change: +$214,527 (+82.9%)
- Typical home value: $473,340 (#13 most expensive city in metro)
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#21. Ford, WA

- 1-year price change: +$21,128 (+6.2%)
- 5-year price change: +$138,315 (+62.2%)
- Typical home value: $360,517 (#28 most expensive city in metro)

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#20. Latah, WA

- 1-year price change: +$21,613 (+7.5%)
- 5-year price change: +$138,315 (data not available)
- Typical home value: $308,777 (#31 most expensive city in metro)
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#19. Spokane Valley, WA

- 1-year price change: +$21,817 (+5.5%)
- 5-year price change: +$201,585 (+93.3%)
- Typical home value: $417,666 (#17 most expensive city in metro)
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#18. Clayton, WA

- 1-year price change: +$22,107 (+5.5%)
- 5-year price change: +$154,172 (+57.2%)
- Typical home value: $423,569 (#16 most expensive city in metro)
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#17. Fairfield, WA

- 1-year price change: +$22,285 (+7.8%)
- 5-year price change: +$164,122 (+114.0%)
- Typical home value: $308,146 (#32 most expensive city in metro)
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Stacker

#16. Mead, WA

- 1-year price change: +$22,786 (+4.3%)
- 5-year price change: +$262,670 (+89.9%)
- Typical home value: $554,856 (#9 most expensive city in metro)

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#15. Otis Orchards-East Farms, WA

- 1-year price change: +$23,285 (+5.0%)
- 5-year price change: +$234,763 (+93.7%)
- Typical home value: $485,242 (#11 most expensive city in metro)
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#14. Loon Lake, WA

- 1-year price change: +$23,310 (+5.5%)
- 5-year price change: +$134,198 (+43.0%)
- Typical home value: $446,401 (#14 most expensive city in metro)
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#13. Northport, WA

- 1-year price change: +$24,114 (+9.0%)
- 5-year price change: +$88,119 (+43.4%)
- Typical home value: $291,285 (#34 most expensive city in metro)
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#12. Newman Lake, WA

- 1-year price change: +$24,260 (+5.0%)
- 5-year price change: +$238,525 (+88.6%)
- Typical home value: $507,696 (#10 most expensive city in metro)
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Stacker

#11. Gifford, WA

- 1-year price change: +$25,293 (+7.1%)
- 5-year price change: +$238,525 (data not available)
- Typical home value: $380,085 (#22 most expensive city in metro)

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#10. Deer Park, WA

- 1-year price change: +$27,727 (+6.2%)
- 5-year price change: +$218,911 (+84.4%)
- Typical home value: $478,295 (#12 most expensive city in metro)
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#9. Rockford, WA

- 1-year price change: +$30,287 (+8.0%)
- 5-year price change: +$202,729 (+99.4%)
- Typical home value: $406,603 (#19 most expensive city in metro)
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Stacker

#8. Colbert, WA

- 1-year price change: +$34,016 (+5.6%)
- 5-year price change: +$292,122 (+83.8%)
- Typical home value: $640,651 (#4 most expensive city in metro)
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#7. Liberty Lake, WA

- 1-year price change: +$38,628 (+6.7%)
- 5-year price change: +$284,099 (+86.5%)
- Typical home value: $612,557 (#6 most expensive city in metro)
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#6. Nine Mile Falls, WA

- 1-year price change: +$41,295 (+7.6%)
- 5-year price change: +$260,293 (+80.6%)
- Typical home value: $583,238 (#8 most expensive city in metro)

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Stacker

#5. Veradale, WA

- 1-year price change: +$41,904 (+6.3%)
- 5-year price change: +$339,521 (+92.5%)
- Typical home value: $706,768 (#3 most expensive city in metro)
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#4. Spangle, WA

- 1-year price change: +$43,637 (+7.7%)
- 5-year price change: +$288,710 (+90.0%)
- Typical home value: $609,353 (#7 most expensive city in metro)
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#3. Chattaroy, WA

- 1-year price change: +$48,032 (+8.1%)
- 5-year price change: +$310,329 (+94.7%)
- Typical home value: $638,042 (#5 most expensive city in metro)
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Stacker

#2. Valleyford, WA

- 1-year price change: +$55,654 (+7.9%)
- 5-year price change: +$358,258 (+89.8%)
- Typical home value: $757,117 (#1 most expensive city in metro)
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Stacker

#1. Mica, WA

- 1-year price change: +$62,740 (+9.2%)
- 5-year price change: +$368,829 (+97.2%)
- Typical home value: $748,150 (#2 most expensive city in metro)

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