Best Neighborhoods in Spokane to Invest In

Are you thinking of investing in Spokane?

Spokane is the second largest city in Washington. Residents love Spokane for its vibrant green spaces and bountiful nature, including lakes, rivers and mountains. They also enjoy this city for its lively downtown area filled with restaurants, bars, breweries and specialty shops.

Spokane exudes a natural tranquility that creates relaxing vibes for people living here. What's more, the community is tight knit and welcoming.

In terms of arts and culture, Spokane has a rich art community. Residents are regularly exposed to street art and musical performances. You can also visit the Northwest Museum of Arts and Culture to learn more about Spokane's history.

Homes in Spokane are affordable and priced lower than the national average. The same goes for the food, utilities and cost of transportation. The median home value is $230k+ and the average market rent is $1,200+.

Spokane has 4 seasons so you can participate in a great number of activities. You can ski during the colder months and go swimming in the warmer months. The temperatures can reach as low as 30 degrees Fahrenheit in winter and as high as 67.1 degrees Fahrenheit in summer.

To get around, residents can ride buses with several routes linking different communities or take the Amtrak train station which is great for heading outside the town. In Spokane, traffic is rarely an issue.

If you're looking to invest in Spokane, keep on reading! We are going to list the top neighborhoods that'll be great to check out:

investing in real estate

1. Browne's Addition

Housing Prices: $450K

Rental Prices: $1,000+

Browne's Addition lends a heritage appeal since the neighborhood is filled with charming stately mansions echoing the historic eras. If you want to invest near the city center and appreciate diversity, this is a good place to do so!

Browne's Addition combines modernity and traditional architecture well. You'll also find apartments and condominiums in the area. The town's diversity provides a sense of vibrancy and energy to the community.

The town is also highly pedestrian friendly, providing bicycle routes to its residents.

Amenities:

  • Elk Public House
  • Cannon Coffee
  • CafĂ© Marron
  • Italia Trattoria
  • Coeur d'Alene Park

2. The South Hill

Housing Prices: $300K

Rental Prices: $1,000+

South Hill embraces all types of architecture from Victorian homes to mansions and cottages. Most were built in the early twentieth century. The streets are lined with mature trees giving relaxing vibes to the area.

property-homes-neighborhood

Residents love the proximity to schools and parks, such as Manito Park, in the area. It's also pedestrian friendly. People can be seen walking around and interacting with neighbors. The neighborhood definitely provides a sense of safety and a tight knit community.

Amenities:

  • Historic Manito Park
  • Cannon Hill Park
  • Rocket Bakery Coffee Shop
  • Scoop ice cream shop
  • Manito Boulevard

3. Emerson/Garfield

Housing Prices: $175K to 400K

Rental Prices: $650+

In Emerson/Garfield neighborhood, you'll find plenty of single and multi-family homes. The properties are also predicted to grow in value. It's branded as a historic commercial district. An attractive component of Emerson/Garfield is its connecting streets, square blocks and detached sidewalks with canopies of trees. The area is also considered highly pedestrian friendly.

The residents in Emerson/Garfield are diverse. Young professionals, students, families and longtime residents populate the neighborhood. This area is attractive for having several schools in its vicinity, easy downtown access and amenities. There are also plenty of local businesses serving the needs of the residents.

downtown-neighborhood-area

Amenities:

  • Corbin and Emerson Parks
  • Trinity Catholic School
  • Emerson Garfield Farmer's Market
  • Kalico Kitchen
  • Aloha Island Grill

4. West Central/Kendall Yards

Housing Prices: $150K to 650K

Rental Prices: $700 to $2K

The property values of West Central/Kendall Yards are rising due to its continual improvement. The Spokane County Court House is found in the center of this neighborhood. You can find both old and modern homes in this area. Streets are interconnected and you can walk around to shop, exercise and engage in commercial activities.

Most recently, young professionals and families are purchasing properties here. West Central is a light industrial district with several local businesses. Kendall Yards is attractive to plenty of new residents with its mixed-use property. People living here foster a warm sense of community.

Amenities:

  • A.M. Cannon Park
  • Maxwell House Restaurant
  • The Tiny Tiki
  • The Yards Bruncheon
  • Central Food

owning-rental-property

5. Peaceful Valley

Housing Prices: $225K

Rental Prices: $1K

Considered a "cool" neighborhood, Peaceful valley is distinct for its location. Its proximity to the downtown area, surrounding lush nature and quiet atmosphere is very appealing. Many artists live in this neighborhood. The community has a tolerant vibe in creative expression and espouses genuine friendliness. Uniqueness is also valued here as people are respected for their artistry.

In Peaceful Valley, you'll find simple homes and a neighborhood park. The area has a high walkability score where you can just stroll to nearby shops, dining places and the public library. You'll also enjoy the views of the river waterfront and the sight of beautiful wildlife.

Amenities:

  • Glover Field
  • Roosevelt Elementary School
  • Sacajawea Middle School
  • Lewis & Clark High School
  • Atticus Coffee & Gifts
  • Wild Sage Bistro

is spokane a good place to live

Bottom Line

Although there are many citites in Washington to invest in such as Cheney and Liberty Valley, the city of Spokane has a lot to offer. If you're thinking of investing in Spokane, WA, there are many neighborhood you can choose from.

Here are our top neighborhoods to invest in:

  • Browne's Addition
  • The South Hill
  • Emerson/Garfield
  • West Central/Kendall Yards
  • Peaceful Valley

For more information, please contact Windermere Property Management.

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