Spokane Rent Report: October 2024

Welcome to the Apartment List October 2024 Rent Report for Spokane, WA. Currently, the overall median rent in the city stands at $1,168, after falling 1.0% last month. Prices are now down 1.4% year-over-year. Read on to learn more about what’s been happening in the Spokane rental market and how it compares to trends throughout the nation as a whole.

Spokane rents are down 1.0% month-over-month and down 1.4% year-over-year

The median rent in Spokane fell by 1.0% over the course of September, and has now decreased by a total of 1.4% over the past 12 months. Spokane’s rent growth over the past year has has fallen behind the state average (1.0%) and is similar to the national average (-0.7%).

Spokane rent growth in 2024 pacing below last year

Nine months into the year, rents in Spokane have risen 1.0%. This is a slower rate of growth compared to what the city was experiencing at this point last year: from January to September 2023 rents had increased 4.0%.

September rent growth in Spokane ranked #85 among large U.S. cities

Spokane rents went down 1.0% in the past month, compared to the national rate of -0.5%. Among the nation's 100 largest cities, this ranks #85. Similar monthly rent growth took place in Austin, TX (-1.0%) and Minneapolis, MN (-1.1%).

Spokane is the #82 most expensive large city in the U.S., with a median rent of $1,168

Citywide, the median rent currently stands at $930 for a 1-bedroom apartment and $1,235 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $1,168. That ranks #82 in the nation, among the country's 100 largest cities.

For comparison, the median rent across the nation as a whole is $1,234 for a 1-bedroom, $1,390 for a 2-bedroom, and $1,405 overall. The median rent in Spokane is 16.9% lower than the national, and is similar to the prices you would find in Lexington, KY ($1,185) and Winston-Salem, NC ($1,150).

Methodology

Apartment List is committed to the accuracy and transparency of our rent estimates. We begin with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, capturing apartment transactions over time to provide an accurate picture of rent growth in cities across the country. Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. For more details, please see the Apartment List Rent Estimate Methodology.

Data Access

Apartment List publishes monthly rent reports and underlying data for hundreds of cities across the nation, as well as data aggregated for counties, metros, and states. These data are intended to be a source of reliable information that help renters and policymakers make sound decisions. Insights from our data are covered regularly by journalists across the country. To access the data yourself, please visit our Data Downloads Page.