Rent, population, and median household income are important factors to consider for a 1031 exchange in Spokane due to their correlations with market demand, and conversely, vacancy rate.
Surrounding metropolitan Area
Spokane, Washington is a part of the Spokane-Spokane Valley, WA metropolitan area, and contains 28 zip codes, including: 99204, 99216, 99260, 99252, 99206, and 99224.
Spokane Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Spokane, WA metropolitan area was $834, which is 19.14% lower than 2014 average rent. This represents a compounded annual growth rate of 3.57%. 2019 vacancy in Spokane, WA was 4.30%.
The total population of the city of Spokane, WA has grown 4.92% since 2010. As of 2018, the population was 219,190. The median household income of the Spokane was $47,822, which is 20.68% lower than the national average.
- metropolitan area Spokane-Spokane Valley, WA
- avg rent $834
- rent growth 19.14%
- vacancy 4.30%
- median income $47,822
- population (2018) 219,190
- population growth 4.92%
- vs. nat'l avg 20.68%
- zip codes 99201 99202 99203 99204 99205 99206 99207 99208 99209 99210 99211 99212 99213 99214 99215 99216 99217 99218 99219 99220 99223 99224 99228 99251 99252 99256 99258 99260
