Are you thinking of investing in Spokane?
Located in Washington, Spokane is the second largest city in the state. Residents love Spokane for its vibrant green spaces and bountiful nature, including lakes, the Spokane river and mountains. They also enjoy this city for its restaurants, bars, breweries and specialty shops.
Spokane offers a good quality of life. It exudes a natural tranquility that creates relaxing vibes for people living here. What's more, the community is tight knit and welcoming. So finding the best neighborhood for you is important.
In terms of arts and culture, the Spokane area has a rich art sector. 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 neighborhoods are affordable and priced lower than the average household income. The same goes for the cost of living, such as the cost for food, utilities and 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. Perfect for a walk along Riverfront park!
To get around the diverse neighborhoods in Spokane, Spokane 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 in the city.
If you're looking to invest in Spokane, keep on reading! We are going to list the best WA areas in Spokane that'll be great to check out:
1. Browne's Addition
Median Home Value: $450K
Rental Prices: $1,000+
Browne's Addition is the best spokane neighborhood as 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!
This Spokane neighborhood, where median household income is higher, combines modernity and traditional architecture well as being one of Spokane's oldest neighborhoods and one of the best neighborhoods in Spokane. You'll also find apartments and condominiums in the area. The town's diversity provides a sense of vibrancy and energy to the area.
The town is also highly pedestrian friendly with alot of economic development, providing bicycle routes to its residents.
Amenities:
- Elk Public House
- Cannon Coffee
- Café Marron
- Italia Trattoria
- Coeur d'Alene Park
2. The South Hill
Median Home Value: $300K
Rental Prices: $1,000+
South Hill is one of Spokane's best neighborhoods. It embraces all types of architecture from Victorian homes to mansions and cottages. Most were built in the early twentieth century. The area has tree lined streets giving relaxing vibes to the area.
People 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 as a family oriented neighborhood and a tight knit area where the median household income is higher.
What makes this Spokanes best neighborhood is the amenities:
- Historic Manito Park
- Cannon Hill Park
- Rocket Bakery Coffee Shop
- Scoop ice cream shop
- Manito Boulevard
3. Emerson/Garfield
Median Home Values: $175K to 400K
Rental Prices: $650+
In Emerson/Garfield neighborhood, you'll find plenty of single and multi-family homes. The real estate 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 a quiet neighborhood that is highly pedestrian friendly.
The people in this historic commercial district are diverse. Young professionals, students, families and longtime residents populate the neighborhood. This area is attractive for having several schools in its vicinity, easy access to downtown Spokane and amenities. There are also plenty of local businesses in the neighborhood.
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 Courthouse is found in the center of this northwest 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. 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
5. Peaceful Valley
Housing Prices: $225K
Rental Prices: $1K
Considered a "cool" neighborhood, Peaceful valley is an established neighborhood mainly due to its location. Its proximity to the downtown Spokane area, surrounding lush nature, mature trees, community garden and quiet atmosphere is very appealing. Many artists and commercial businesses 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, elementary school and the public library. You'll also enjoy the views of the Spokane river waterfront and the sight of beautiful wildlife.
Amenities:
- Glover Field
- Roosevelt School
- Sacajawea Middle School
- Lewis & Clark High School
- Atticus Coffee & Gifts
- Wild Sage Bistro
Bottom Line: Top Spokane Neighborhoods
Although there are many citites in Washington to invest in such as Cheney and Liberty Lake, the city of Spokane has a lot to offer. If you're thinking of investing in Spokane, WA, there are many suburban areas and also downtown Spokane that you can choose from.
Here are our best neighborhoods to invest in:
- Browne's Addition
- The South Hills
- Emerson/Garfield
- West Central/Kendall Yards
- Peaceful Valley
For more information on the all the neighborhoods or others like the Mead School District, Centennial Trail or Five Mile Prairie, or Spokane real estate, please contact Windermere Property Management.