Apartments in North Indian Trail Spokane

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Spokane:
September Rent Report

Welcome to the September 2024 Spokane Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the September 2024 key findings and figures for the Spokane rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Spokane and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Spokane average rent prices in the chart below.

Monthly Rent Report

$1,550
$1,160
$780
$390
$0
Oct. 2023
Nov. 2023
Dec. 2023
Jan. 2024
Feb. 2024
Mar. 2024
Apr. 2024
May. 2024
Jun. 2024
Jul. 2024
Aug. 2024
Sep. 2024
1 BR       2 BR

Spokane Rent Prices Increase From August to September

Spokane rent prices increased over the last month. From August to September, the city experienced a 0.55% increase for the price of a one-bedroom apartment. The rent price for a Spokane one-bedroom apartments currently stands at $1,102.0.

When we take a look at the two-bedroom comparison from August to September, Spokane experienced a -0.22% decrease for the price of a two-bedroom apartment. The rent price for a Spokane two-bedroom apartments currently stands at $1,379.0.

September Prices: Spokane vs. Surrounding Areas

Airway Heights, WA
Medical Lake, WA
Spokane Valley, WA
Spokane, WA
Cheney, WA
$1,369
$1,266
$1,259
$1,096
$891
$0
$450
$900
$1,350
$1,800
Median 1 BR Rent

Rent Prices in Spokane and Surrounding Areas

Rent prices have increased in Spokane over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 2 of the Spokane suburbs increased last month. On the other hand, 2 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

  • Rent increased in Cheney, WA, Medical Lake, WA .

  • Rent decreased in Spokane Valley, WA, Airway Heights, WA.

  • 3 suburbs are currently priced higher than the city of Spokane.

  • 1 suburb is currently priced lower than the city of Spokane.

September 2024 Pricing Trends: Spokane vs. National Comparisons

New York, NY
San Francisco, CA
Washington, DC
Los Angeles, CA
Chicago, IL
Columbus, OH
Minneapolis, MN
Pittsburgh, PA
Spokane, WA
$4,195
$3,010
$2,365
$2,344
$1,862
$1,378
$1,226
$1,145
$1,096
$0
$1,400
$2,800
$4,200
$5,600
Median Rent

Spokane Rent Prices More Affordable Than Major Cities

Rent growth in Spokane over the past year has been on the rise. When compared to major cities nearby, along with some of the most expensive cities in the country, Spokane average rent prices appear to be relatively affordable for local residents.

The price for a Spokane one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

For more information about Spokane and surrounding area rent prices, take a look at the complete data set below.

Data set for Spokane and suburbs

1 BR September 1 BR M/M % Change 2 BR September 2 BR M/M % Change
Spokane, WA $1,096.0 -0.18% $1,382.0 -0.79%
Spokane Valley, WA $1,259.0 -1.95% $1,440.0 0.70%
Cheney, WA $891.0 2.65% $1,169.0 -3.23%
Airway Heights, WA $1,369.0 -1.08% $1,453.0 -4.47%
Medical Lake, WA $1,266.0 1.93% $1,431.0 -6.16%

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.