Quick facts: Spokane valley, WA

Quick Facts

115.1
Cost of Living
above US average
107,325
Population
44.26
Crime Rate per 1000
above US average
$66,483
Median Income
below US average
$489,900
Median House Price
above US average
$1036924.64
Average Rent
above US average
10%
Poverty Rate
below US average
4.1%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $66,483.

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Income Needed to Buy

βœ— Stretch
$154k/year
Based on $489,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $154k vs median $66,483
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Income Needed to Rent

⚠ Stretch
$44440k/year
Based on $1036924.64/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $44440k vs median $66,483
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Spokane valley, WA

Spokane Valley, located in Washington State, is a vibrant suburb of Spokane, situated in the eastern part of the state. Known for its beautiful landscapes and outdoor recreational opportunities, this area boasts a population of around 100,000 residents. The Spokane River runs through the city, offering picturesque views and access to various parks and trails. Spokane Valley features a mix of residential neighborhoods, shopping centers, and dining options, making it a convenient place for families and individuals alike. The valley is home to several parks, including the expansive Spokane Valley Park and Mirabeau Point Park, providing ample space for activities like hiking, picnicking, and wildlife observation. Education is prioritized in the community, with access to quality schools and institutions. The local economy is diverse, with healthcare, retail, and manufacturing sectors significantly contributing to its growth. Spokane Valley's location also allows for easy access to the larger Spokane city, where residents can enjoy a wider array of cultural events, entertainment, and dining experiences. Overall, Spokane Valley blends urban amenities with the beauty of the Pacific Northwest, making it a desirable place to live or visit.

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