Cost of Living in Spokane Washington

Cost of Living in Spokane Washington

Perched in eastern Washington, Spokane is known for its beautiful natural surroundings and many urban attractions. New residents and long-time residents can enjoy the city’s cultural museums, outdoor spaces, and easy access to state parks and national wildlife refuges.

Although Spokane’s population is just over 200,000, the city is part of a much larger metropolitan area that includes the entire Spokane Valley and almost reaches the border as far as Coeur d’Alene, in the Idaho. In total, the population of the greater metropolitan area of ​​Spokane is approximately 575,000.

While the metro area has grown steadily over the past few years, the cost of living in Spokane, Washington remains relatively low. In an index where the national average is 100, the cost of living in Spokane sits comfortably at 92.3. Let’s explore what these numbers mean for your budget, and take a look at the most affordable places to live in the Metropolitan Spokane area.

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Cost of Living in Spokane Washington

How much does an apartment cost in Spokane?

To get a better idea of ​​the cost of living in Spokane, it’s helpful to consider the average prices across the state and country. The cost of living in Washington is 118.7, which makes the state much more expensive than the national average. Housing in Washington is particularly expensive, weighing 164.9 against a national average of 100.

When it comes to cost of living, Spokane vs Seattle provides another helpful comparison. Across the state, the cost of living in Seattle is 172.3 and the cost of shelter is 309.

Compared to state averages, living in Spokane is a steal. In addition to the city’s lower cost of living, Spokane also has relatively affordable housing prices. The city’s housing cost is 94.2, which means it has a lot of cheap apartments.

Overall, the vast majority of monthly rent for Spokane properties is between $ 500 and $ 1,300. About 15% of monthly rents are between $ 1,300 and $ 2,000, while less than 10% are over $ 2,000.

The most important factor in determining rental rates is the size of the apartment. Studios are the cheapest, with a median rent of $ 718 per month. One-bedroom apartments cost an average of $ 986 per month, while two-bedroom apartments cost an average of $ 1,187 per month. Three-bedroom apartments cost about $ 1,550 per month, while four-bedroom apartments cost an average of $ 1,762 per month.

While it’s always a good idea to leave room in your budget for future rent increases, some Spokane units have come down in price in recent years. For example, the average studio rent has fallen by 28%, making these units more affordable than ever. In contrast, the monthly rent for one and two bedroom apartments increased by 28% and 18%, respectively.

How to find cheap apartments in Spokane?

Because accommodation is so cheap in Spokane, you have a lot of options for finding cheap apartments, no matter what space you need. Here are some of the best ways to find affordable apartments:

  • Broaden your search to the greater metropolitan area. If you work or spend most of your time in downtown Spokane, you might be willing to pay a bit more to live nearby. If you work from home or don’t care about a commute, searching outside of the city limits could help save you money. The average rent for apartments in the Spokane Valley metropolitan area is slightly lower than city prices.
  • Considering a smaller space. It’s tempting to rent a bigger place to have plenty of space for yourself, your family, and all visitors. However, renting accommodation that is just big enough could be much cheaper. For example, the difference in average rent between two- and three-bedroom units is significant. Going for a two-bedroom over a three-bedroom could be much better for your budget.
  • Move in with a roommate. Sharing the cost of rent with one or two roommates can do wonders for your monthly budget. You might even be able to afford a bigger apartment in a nicer neighborhood without breaking your budget.
  • Find a unit that includes all costs. If your apartment complex has a lot of amenities or services, the costs can add up quickly. Look for an apartment that includes all of these extras in the rental price so you don’t have to pay extra charges each month. You can use a Spokane, Washington cost of living calculator to estimate average charges and other monthly charges.

Browse Spokane apartments for rent

What’s the cheapest rent in Spokane?

While some areas of Spokane can be pricey, there are several affordable areas to choose from. You can usually find the cheapest apartments for rent in areas of Spokane like:

  • Lincoln Heights, where studios cost an average of $ 575 per month
  • Five Mile Prairie, where one bedroom averages $ 765 per month
  • Balboa, where you can find two-bedroom apartments for an average of $ 820 per month
  • West Spokane, which has three-bedroom units for an average of $ 885 per month
  • Thorpe Westwood, where you can rent four-bedroom apartments for an average of $ 940 per month

To save money on rent, you might also want to avoid looking in some of Spokane’s more expensive neighborhoods. For example, Manito and Riverside, which are centrally located, tend to have some of the more expensive apartments in town. Areas like Peaceful Valley, North Indian Trail, and Comstock can also be expensive compared to typical Spokane prices.

Whether you already reside in Spokane or are planning a move to the area, you can find housing options that suit a wide range of budgets. With the cost of living in Spokane being lower than the national average, it’s easy to find affordable housing in the metro area. Start your search for apartments in Spokane today and find the perfect spot that fits your budget.

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