Total monthly cost of ownership
Cost to Own a Home in Spokane, Washington
A $326,000 home here costs
$2,424per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,676. The real number is $748 higher every month — 45% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Spokane against Spokane County and Washington
| Measure | Spokane | Spokane County |
|---|---|---|
| Median home value | $326,200 | $370,500 |
| Median property tax | $2,705 | $3,196 |
| Effective tax rate | 0.829% | 0.863% |
| Median gross rent | $1,141 | $1,200 |
| Population | 229,228 | 544,323 |
The weather behind that power bill
Spokane sits in Spokane County, which averages a high of 87.1°F in its hottest month and a low of 25.7°F in its coldest, with 17.36" of precipitation a year and 36% of it in a single three-month stretch. That climate drives 507 cooling and 6,019 heating degree days, which is what sets the $134 electricity line above.
See the full climate breakdown for Spokane County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Spokane County
Full Spokane County cost breakdown · Every county in Washington
Common questions
How much does it cost to own a home in Spokane?
A $326,000 home in Spokane, Washington costs approximately $2,424 per month with 20% down at 6.66%. That is $1,676 principal and interest, $225 property tax, $48 homeowners insurance, $202 utilities and $272 set aside for maintenance.
What is the property tax rate in Spokane?
Spokane has an effective property tax rate of 0.829%, based on a median home value of $326,200 and median real estate taxes of $2,705. That is lower than the Spokane County average of 0.863%.
What is the average home price in Spokane?
The median owner-occupied home value in Spokane, Washington is $326,200, against $370,500 across Spokane County.
Is it cheaper to rent or buy in Spokane?
Median gross rent in Spokane is $1,141 a month, against $2,424 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Spokane — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Washington.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.