Perched on the eastern edge of Washington, Spokane is known for its stunning natural surroundings and its many urban attractions. New and longtime residents alike can appreciate the city’s cultural museums, outdoor areas, and easy access to state parks and national wildlife refuges.
Although the population of Spokane is just over 200,000 residents, the city is part of a much larger metropolitan area that includes the entire Spokane Valley and almost reaches across the border to Coeur d’Alene, Idaho. Altogether, the population of the greater Spokane metro area includes about 575,000 residents.
While the metro area has grown steadily over the past few years, the Spokane, Washington, cost of living remains relatively low. In an index where the national average is 100, the cost of living in Spokane sits comfortably at 92.3. Let’s explore what these numbers mean for your budget and take a look at the most affordable places to live in the Spokane metro area.
How expensive is an apartment in Spokane?
To get a better picture of the cost of living in Spokane, it’s helpful to consider average prices across the state and country. The cost of living across Washington is 118.7, making the state much more expensive than the national average. In Washington, housing is particularly expensive, weighing in at 164.9 compared to the national average of 100.
When it comes to the cost of living, Spokane vs. Seattle provides another helpful comparison. On the opposite side of the state, Seattle’s cost of living is 172.3 and the cost of housing is 309.
Compared to statewide averages, living in Spokane is a great deal. In addition to the city’s lower cost of living, Spokane also has comparably affordable housing prices. The city’s cost of housing is 94.2, which means it has plenty of inexpensive apartments.
Overall, the vast majority of monthly rent for Spokane properties is between $500 and $1,300. About 15% of monthly rents are between $1,300 and $2,000, while less than 10% are above $2,000.
The biggest factor for determining rental rates is the size of the apartment. Studios are the cheapest, with a median rent of $718 per month. One-bedroom apartments cost an average of $986 per month, while two-bedroom units average $1,187 per month. Three-bedroom apartments cost about $1,550 per month, while four-bedroom units average $1,762 per month.
Although it’s always a good idea to leave room in your budget for future rent increases, some units in Spokane have decreased in price in recent years. For example, the average rent for studios has decreased by 28%, making these units more affordable than ever. In contrast, monthly rent for one- and two-bedroom apartments has increased by 28% and 18%, respectively.
How do I find cheap apartments in Spokane?
Because housing is so inexpensive in Spokane, you have a lot of options for finding cheap apartments, no matter how much space you need. Some of the best ways to locate affordable apartments include:
- Expanding your search to the greater metro area. If you work or spend most of your time in downtown Spokane, then you might be willing to pay a little extra to live somewhere nearby. If you work from home or if you don’t mind a commute, however, searching outside the city limits could help you save money. The average rent for apartments in the Spokane Valley metro area is slightly cheaper than city prices.
- Considering a smaller space. It’s tempting to rent a larger place so you have plenty of space for yourself, your family, and any visitors. However, renting a place that’s just big enough could be a lot cheaper. For example, the average rent difference between two- and three-bedroom units is significant. Opting for a two-bedroom over a three-bedroom could be much better for your budget.
- Moving in with a roommate. Splitting the cost of rent with a roommate or two can do wonders for your monthly budget. You might even be able to afford a larger apartment in a nicer neighborhood without breaking your budget.
- Finding a unit that includes all fees. If your apartment complex has a lot of amenities or services, the fees can add up quickly. Seek out an apartment that includes all these extras in the rental price so you don’t have to pay additional fees every month. You can use a Spokane, Washington, cost of living calculator to estimate average utilities and other monthly fees.
What is the cheapest rent in Spokane?
While some Spokane neighborhoods can be pricey, you have several affordable areas to choose from. You can typically find the cheapest apartments for rent in Spokane neighborhoods like:
- Lincoln Heights, where studios cost an average of $575 per month
- Five Mile Prairie, where one-bedrooms average $765 per month
- Balboa, where you can find two-bedroom apartments for an average of $820 per month
- West Spokane, which has three-bedroom units for an average of $885 per month
- Thorpe Westwood, where you can rent four-bedroom apartments for an average of $940 per month
To save money on rent, you might also want to avoid looking in some of Spokane’s most expensive neighborhoods. For example, centrally located Manito and Riverside tend to have some of the priciest apartments in town. Areas like Peaceful Valley, North Indian Trail, and Comstock can also be expensive compared to typical Spokane prices.
Whether you already reside in Spokane or you’re planning a move to the area, you can find housing options that fit a wide range of budgets. Because the Spokane cost of living is lower than national averages, it’s easy to find an affordable place to live in the metro area. Start your Spokane apartment search today and find the perfect place that fits your budget.
Contenu associé
