Best Spokane Neighborhoods for Home Price Appreciation
- Nick Briggs
- Oct 27
- 4 min read
Updated: 1 day ago
Spokane’s Home Appreciation Trends: What the Latest Data Shows
Spokane’s housing market continues to hold strong, even as national markets fluctuate. According to the most recent local data, the average median sold price across Spokane and Spokane Valley in the last year is $425,000, marking a 3.2% year-over-year increase and a 174.2% rise over the past 15 years average yearly median sold prices.
These numbers confirm what many already know—Spokane remains one of the most resilient and steadily appreciating markets in the Pacific Northwest. I’m sharing this breakdown because, as a Spokane real estate agent, I work daily with buyers and sellers navigating these market shifts, helping them identify the best Spokane neighborhoods for appreciation. The following is not financial advice, it's just a collection of data that I wanted to provide.
🚀 Short-Term Investment Hotspots (High 1-Year Growth)
If you’re looking for neighborhoods showing rapid short-term appreciation, these areas are leading the charge—ideal for near-term equity growth or strategic flips.
1. Riverside (Downtown Spokane)
Median Home Price: $459,000
1-Year Appreciation: +25.8%
15-Year Appreciation: +108.6%
Downtown Spokane has surged back to life. From condo conversions and boutique hotels to a growing restaurant and arts scene, demand for downtown living is skyrocketing this year. While its long-term growth is more modest, the current surge points to a rebound phase that could deliver outsized short-term gains.
2. Chief Garry Park
Median Home Price: $332,000
1-Year Appreciation: +14.5%
15-Year Appreciation: +268.9%
Chief Garry Park has evolved from overlooked to in-demand. Its proximity to downtown and improving infrastructure make it a top contender for both first-time buyers and value investors. With home prices still below the city median, there’s room for additional appreciation.
3. West Valley (Spokane Valley)
Median Home Price: $395,000
1-Year Appreciation: +12.9%
15-Year Appreciation: +206.2%
Spokane Valley’s steady and spacious appeal keeps this market strong. Homes with larger lots attract long-term residents, leading to consistent appreciation over time.
4. North Indian Trail
Median Home Price: $510,000
1-Year Appreciation: +10.9%
15-Year Appreciation: +139.4%
A suburban area with limited supply, North Indian Trail continues to outperform. Expect steady value growth driven by newer construction and tight inventory.
5. Whitworth / Country Homes
Median Home Price: $528,000
1-Year Appreciation: +10.2%
15-Year Appreciation: +136.8%
With spacious lots and established neighborhoods near north Spokane’s amenities, Whitworth and Country Homes continue to attract long-term homeowners. Its stable appreciation rate makes it a balanced bet for investors and move-up buyers alike.
🏗️ Long-Term Value Builders (Strong 15-Year Appreciation)
These areas have created significant equity for homeowners and are expected to keep doing so over the next decade.
1. Hillyard
Median Home Price: $300,000
1-Year Appreciation: +7.9%
15-Year Appreciation: +435.7%
Hillyard’s transformation has been remarkable. Once one of Spokane’s most affordable neighborhoods, it’s now a revitalization success story. Ongoing redevelopment and its lower price point make it a favorite for investors seeking long-term equity.
2. Chief Garry Park
Already mentioned for short-term gains, this neighborhood also ranks second for long-term appreciation—proof of its balanced strength.
3. Emerson / Garfield
Median Home Price: $313,000
1-Year Appreciation: +0.9%
15-Year Appreciation: +247.8%
Located just north of downtown, Emerson/Garfield combines accessibility with affordability. The recent plateau may signal a temporary pause before another growth cycle, making this a smart entry point for buyers.
4. Bemiss
Median Home Price: $295,000
1-Year Appreciation: +7.3%
15-Year Appreciation: +243%
Steady and affordable, Bemiss has delivered reliable growth over time. Continued buyer demand for entry-level housing supports its long-term stability.
5. Nevada / Lidgerwood
Median Home Price: $291,000
1-Year Appreciation: +2.1%
15-Year Appreciation: +242.4%
A long-time centrally located favorite, this area remains undervalued relative to the city median. Expect slow but consistent appreciation, ideal for buy-and-hold investors.
⚠️ Neighborhoods to Watch (Potential Rebounds)
Some neighborhoods have cooled recently, but their strong fundamentals suggest recovery opportunities ahead.
💡 Key Takeaways: Where to Invest in Spokane Real Estate
Best short-term opportunities: Riverside, Chief Garry Park, West Valley
Strongest long-term equity builders: Hillyard, Emerson/Garfield, Bemiss, Nevada/Lidgerwood
Likely rebound areas: Cliff-Cannon, West Central
Plateaued or luxury-stable: Liberty Lake, Rockwood, Latah/Hangman
FAQ: Best Spokane Neighborhoods for Appreciation
Which Spokane neighborhoods are appreciating the fastest? Based on the most recent data, Riverside (Downtown) and Chief Garry Park have seen the highest year-over-year appreciation, driven by downtown revitalization and affordability.
What are the best Spokane neighborhoods for long-term value? Hillyard, Emerson/Garfield, Bemiss, and Nevada/Lidgerwood have all outperformed Spokane’s citywide average over the past 15 years.
Are there Spokane neighborhoods currently undervalued? Yes. Areas like Cliff-Cannon and West Central are temporarily cooling but remain strong bets for investors who understand Spokane’s long-term growth patterns.
Should I invest in Spokane now or wait for lower rates? Timing depends on your goals. Even with current rates, Spokane’s affordability compared to larger metros offers significant appreciation potential. (This is not financial advice—consult a licensed mortgage or financial professional before making investment decisions.)
Work With a Local Expert
Understanding which neighborhoods are rising—and why—takes local insight and data. As a Spokane real estate agent, I help buyers and investors identify where appreciation trends align with their goals. Whether you’re looking for a high-growth flip or a long-term equity play, I can help you find the right opportunity in Spokane’s evolving market.
📌 Related Blog: Spokane Housing Market Forecast
About Me
My name is Nick Briggs
Being born and raised in Spokane I grew up knowing what a special place this city is, and it was my dream to help others create a life in this wonderful community by guiding them in real estate. I spent many years in the customer service industry, the experience of listening and communication showed me how much I truly loved helping people. I attended Gonzaga University and earned a Bachelor’s Degree in Business Administration to add to my knowledge of guiding, managing, negotiating, and listening to individuals, helping them achieve their real estate goals.
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