The typical owner-occupied home in Spokane is worth about $220,200, 4% below the Missouri median of $230,300 and 34% below the national median of $332,700. Owners pay a median $1,662 a year in property taxes, about 0.75% of their home's value, lower than the Missouri rate of 0.85%. The median household earns $113,750 a year, so the median home costs 1.9 times the median income (3.3 times for Missouri). 100% of occupied homes here are lived in by their owners, and 79% of those owners still have a mortgage.
Spokane at a glance
| Spokane | Missouri | U.S. | |
|---|---|---|---|
| Median home value | $220,200 | $230,300 | $332,700 |
| Median property tax paid per year | $1,662 | $1,948 | $3,119 |
| Property tax as a share of value | 0.75% | 0.85% | 0.94% |
| Median household income | $113,750 | $70,702 | $80,734 |
| Homes lived in by their owners | 100% | 68% | 65% |
| Owner homes with a mortgage | 79% | 60% | 61% |
| Median monthly costs, owners with a mortgage | $1,463 | $1,524 | $1,963 |
| Those costs as a share of the owners' income | 16.9% | 19.0% | 21.0% |
| Median rent | – | $1,033 | $1,413 |
| Median year homes were built | 2004 | 1978 | 1980 |
| Vacant homes | 0.0% | 11.2% | 10.1% |
| Population | 319 | 6,191,814 | 334,922,499 |
What a typical home costs per month in Spokane
At this week's average 30-year rate of 7.11%, buying the median Spokane home of $220,200 with 20% down costs about $1,414 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,781, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $60,618 for the 20%-down payment. That payment is 15% of the median Spokane household income of $113,750; at that income and 20% down, the 28% guideline points to a home of about $413,000.
| Down payment | $44,040 |
|---|---|
| Loan amount | $176,160 |
| Principal and interest | $1,185 |
| Property taxes (0.75% a year) | $138 |
| Homeowners insurance (our estimate, 0.5% a year) | $92 |
| PMI | $0 |
| Total per month | $1,414 |
Change the numbers in the calculator
| Down payment | $7,707 |
|---|---|
| Loan amount | $216,212 |
| Principal and interest | $1,454 |
| Property taxes (0.75% a year) | $138 |
| Homeowners insurance (our estimate, 0.5% a year) | $92 |
| FHA mortgage insurance | $97 |
| Total per month | $1,781 |
Change the numbers in the calculator
Questions about home buying in Spokane
What is the median home value in Spokane?
About $220,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Spokane?
Homeowners pay a median $1,662 a year, which is about 0.75% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Spokane?
For the median home with 20% down at 7.11%, the payment is about $1,414 a month. Keeping that under 28% of gross income takes about $60,618 a year.
More about Spokane
- Mortgage Refinance in Spokane
- Debt Relief in Spokane
- Home Equity Loans in Spokane
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data