Comparing Home Prices In Seattle To Spokane

Comparing Home Prices In Seattle To Spokane

Relocating to Washington or moving within the State?

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    It's that time of year again. The birds are chirping, the sun is out, and the pollen is in the air (sorry fellow allergy sufferers). This is summer, the busiest time of year for real estate. Many buyers and sellers want to wait until their children are out of school, and of course, no one wants to move in snow. With summer just beginning, we are already seeing huge changes in the real estate market. Nationally, home inventory is low, and that is also the case for most of Washington as far as I know, but here in Spokane we are starting to see an increase in the number of listings hitting market each day. This is great news for people looking to buy or sell here in the great city of Spokane. 

    For people out of state, Spokane is often disregarded or completely unknown do to Seattle stealing all of the spotlight. What many people do not know is that Spokane is actually the second largest city in this great state, with a population of half a million. It has a great central location for outdoor enthusiast. It has 4 major ski resorts within a 2 hour drive, most notably Mt. Spokane which is only 30 minutes away. It has 76 regional lakes, great for everything from fishing to recreational activity. For those who are sports fans, we are home to the Gonzaga Bulldogs, and for about a 30 minute flight, you can be at Safeco Field watching the Mariners or Seahawks. The "other" perk Spokane has is its affordability. 

    In comparison to Seattle, Spokane is a much cheaper place to live and buy a home. Let me give a few examples. The average price per square foot of a home in Seattle is $447, while in Spokane it is $140. What does this equate to? If you were to purchase two identical homes, one in Seattle and one in Spokane, both having 3 bedrooms and 2 bathrooms with a total of 2000sqft, you would pay 3.2 times as much for the one in Seattle. Now if that alone is not enough to make you consider Spokane, lets look at the cost of living. Best places to live did a comparison of Seattle to Spokane's cost of living. They used a score of 100 as the national average. Spokane came in below the national average at 94.2, while Seattle came in well over at 176.5. The cost of living in Seattle is almost twice as much. How does this look? To live off a $50,000 a year salary in Spokane, you would have to make $95,000 a year in Seattle to live the exact same life style. That's a lot of money. So if you are considering relocating, please remember to check out Spokane as a very valuable option. 

If you would like more information about the housing market in Spokane, please reach out to me via email: [email protected] or visit my website to view Spokane's active inventory!

Benjamin Baker Headshot
Phone: 509-919-7291
Dated: May 23rd 2017
Views: 453
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Location & Address

Discovery Real Estate Group
1009 N Washington St. Suite B
Spokane, WA