Metro area index
Home appreciation in the Spokane-Spokane Valley, WA metro area
FHFA HPI® data shows the Spokane-Spokane Valley, WA metro area's all-transactions index changed -0.1% over the year to Q2 2026, versus +1.1% for Washington and +3.0% for the U.S. That ranks 365th of 410 metro areas and divisions FHFA tracks.
- 1-year change
- -0.1%
- 5-year change
- +29.1%
- Since Q1 1995
- +321%
- Metro rank (1 year)
- 365th
U.S. +3.0%
U.S. +41.3%
U.S. +292%
of 410
Spokane-Spokane Valley, WA vs Washington and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- Spokane-Spokane Valley, WA: 421.2
- Washington: 486.5
- United States: 391.6
Appreciation by time window
| Window | Metro | WA | U.S. | Gap vs WA | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | -0.1% | +1.1% | +3.0% | −1.1 pts | −3.1 pts |
| 3 years | +5.8% | +8.2% | +12.9% | −2.4 pts | −7.0 pts |
| 5 years | +29.1% | +29.7% | +41.3% | −0.6 pts | −12.2 pts |
| 10 years | +127% | +105% | +93.3% | +22.0 pts | +33.5 pts |
| Since Q1 1995 | +321% | +387% | +292% | −65.3 pts | +29.6 pts |
3-digit ZIP regions in the Spokane-Spokane Valley, WA area
Regions with at least 10% of their 2010 population inside the metro, largest overlap first. A 3-digit ZIP region can extend beyond the metro boundary.
| 3-digit ZIP region | State | 1 year | 5 years | Since Q1 1995 | Population in metro |
|---|---|---|---|---|---|
| 992 · Spokane, WA area | WA | -0.1% | +28.5% | +327% | 100% |
| 990 · Spokane Valley, WA area | WA | +1.0% | +28.8% | +310% | 97% |
| 991 · Pullman, WA area | WA | +0.7% | +37.3% | +290% | 30% |
Boom, bust, and recovery in Spokane-Spokane Valley, WA area
Spokane-Spokane Valley, WA area's index peaked in Q4 2007, fell 19.6% to its low in Q2 2012, and regained its peak in Q2 2017, about 9.5 years after the top. Today it sits +114% versus that 2000s peak. How every state and ZIP region fared
| Area | 2000s peak | Low point | Peak to low | Back to peak | Today vs peak |
|---|---|---|---|---|---|
| Metro | Q4 2007 | Q2 2012 | -19.6% | Q2 2017 (9.5 yrs) | +114% |
| WA | Q4 2007 | Q2 2012 | -25.2% | Q2 2016 (8.5 yrs) | +106% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, Spokane-Spokane Valley, WA area's index has changed +90.2% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | Metro after inflation | WA after inflation | U.S. after inflation |
|---|---|---|---|---|
| 1 year | +3.9% | -3.8% | -2.7% | -0.8% |
| 3 years | +9.8% | -3.6% | -1.4% | +2.8% |
| 5 years | +24.0% | +4.1% | +4.6% | +13.9% |
| 10 years | +39.1% | +63.1% | +47.3% | +39.0% |
| Since Q1 1995 | +121% | +90.2% | +120% | +76.8% |
If you bought in the Spokane-Spokane Valley, WA area in…
An example $300,000 purchase grown at the metro index rate to Q2 2026.
| Bought in | Index change | $300,000 then, at the metro rate |
|---|---|---|
| Q2 1995 | +313% | $1,240,253 |
| Q2 2000 | +289% | $1,166,193 |
| Q2 2005 | +181% | $844,181 |
| Q2 2010 | +144% | $730,937 |
| Q2 2015 | +142% | $727,360 |
| Q2 2020 | +57.0% | $471,130 |
| Q2 2021 | +29.1% | $387,372 |
| Q2 2023 | +5.8% | $317,464 |
| Q2 2025 | -0.0% | $299,858 |
Frequently asked questions
- How much have home prices risen in the Spokane-Spokane Valley, WA area?
- FHFA HPI® data for the Spokane-Spokane Valley, WA metro area shows changes of -0.1% over one year, +29.1% over five years, and +127% over ten years to Q2 2026, and +321% since Q1 1995.
- Is the Spokane-Spokane Valley, WA area beating the national average?
- Over the past year the metro's index moved −3.1 pts versus the U.S.; over five years the gap is −12.2 pts.
- What area does this metro index cover?
- FHFA computes metro indexes using the counties in each OMB-defined metropolitan statistical area. The index covers the whole area, so individual neighborhoods and homes can differ from it.