Cities with the most expensive homes in Spokane metro area

Written by:
June 21, 2022
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Cities with the most expensive homes in Spokane metro area

Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value. Given the current state of the real estate market, housing affordability plays a determining role for buyers. As of June 17, 2022, the 30-year fixed mortgage rate sits at 6.25%. As a result of higher mortgage rates across the board, home prices have risen significantly. The typical home value in the United States increased over the last year by +20.9% to $334,141.

Although home prices have inflated all across the U.S., there are definitely certain areas that have a higher price tag than others. Location, size, age, and condition are all contributing factors to home value. Whether you choose to hold off your home-buying plans in hopes of the market cooling down or are looking to buy ASAP, it's good to educate yourself on the market in different cities.

Stacker compiled a list of cities with the most expensive homes in Spokane using data from Zillow. Cities are ranked by the Zillow Home Values Index for all homes as of May 2022. Cities with at least three years of historical data were included. The charts in this story were created automatically using Matplotlib.

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#30. Addy, WA

- Typical home value: $339,500
- 1-year price change: +11.4%
- 5-year price change: +45.7%

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#29. Chewelah, WA

- Typical home value: $341,186
- 1-year price change: +10.4%
- 5-year price change: +44.4%

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#28. Ford, WA

- Typical home value: $342,878
- 1-year price change: +17.6%
- 5-year price change: +65.2%

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#27. Rice, WA

- Typical home value: $349,201
- 1-year price change: +13.5%
- 5-year price change: +47.8%

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#26. Cusick, WA

- Typical home value: $360,443
- 1-year price change: +17.3%
- 5-year price change: +53.5%

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#25. Newport, WA

- Typical home value: $361,607
- 1-year price change: +16.4%
- 5-year price change: +60.8%

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#24. Millwood, WA

- Typical home value: $390,640
- 1-year price change: +22.7%
- 5-year price change: +115.4%

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#23. Airway Heights, WA

- Typical home value: $393,862
- 1-year price change: +25.3%
- 5-year price change: +106.9%

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#22. Clayton, WA

- Typical home value: $409,546
- 1-year price change: +15.7%
- 5-year price change: data not available

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#21. Loon Lake, WA

- Typical home value: $417,988
- 1-year price change: +13.9%
- 5-year price change: +46.3%

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#20. Spokane, WA

- Typical home value: $428,920
- 1-year price change: +26.1%
- 5-year price change: +116.0%

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#19. Rockford, WA

- Typical home value: $428,990
- 1-year price change: +24.5%
- 5-year price change: +107.4%

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#18. Spokane Valley, WA

- Typical home value: $443,433
- 1-year price change: +25.5%
- 5-year price change: +111.4%

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#17. Medical Lake, WA

- Typical home value: $444,055
- 1-year price change: +24.2%
- 5-year price change: +104.8%

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#16. Cheney, WA

- Typical home value: $455,904
- 1-year price change: +24.5%
- 5-year price change: +99.7%

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#15. Country Homes, WA

- Typical home value: $488,146
- 1-year price change: +27.6%
- 5-year price change: +114.6%

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#14. Elk, WA

- Typical home value: $488,454
- 1-year price change: +22.8%
- 5-year price change: +98.8%

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#13. Deer Park, WA

- Typical home value: $503,984
- 1-year price change: +24.1%
- 5-year price change: +98.0%

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#12. Otis Orchards-East Farms, WA

- Typical home value: $534,023
- 1-year price change: +28.3%
- 5-year price change: +113.9%

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#11. Fairwood, WA

- Typical home value: $536,164
- 1-year price change: +27.9%
- 5-year price change: +102.4%

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#10. Newman Lake, WA

- Typical home value: $541,414
- 1-year price change: +26.6%
- 5-year price change: +105.5%

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#9. Mead, WA

- Typical home value: $588,893
- 1-year price change: +27.5%
- 5-year price change: +107.1%

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#8. Nine Mile Falls, WA

- Typical home value: $596,960
- 1-year price change: +25.2%
- 5-year price change: +92.1%

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#7. Spangle, WA

- Typical home value: $617,831
- 1-year price change: +25.1%
- 5-year price change: +104.6%

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#6. Chattaroy, WA

- Typical home value: $646,298
- 1-year price change: +26.5%
- 5-year price change: +106.2%

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#5. Liberty Lake, WA

- Typical home value: $648,865
- 1-year price change: +30.7%
- 5-year price change: +102.5%

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#4. Colbert, WA

- Typical home value: $668,797
- 1-year price change: +29.4%
- 5-year price change: +101.9%

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#3. Veradale, WA

- Typical home value: $736,748
- 1-year price change: +27.9%
- 5-year price change: +103.6%

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#2. Mica, WA

- Typical home value: $773,753
- 1-year price change: +29.8%
- 5-year price change: +108.9%

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#1. Valleyford, WA

- Typical home value: $780,829
- 1-year price change: +28.5%
- 5-year price change: +101.5%

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