If you’re looking to relocate or buy a property in the state of Washington, Spokane can be your go-to place!
Located on the Western end of Washington, Spokane is a small town well known for its splendid scenic beauty alongside some urban amenities. Since its inception, Spokane has attracted many people to set up their dream homes in this amazing place.
This attraction could be attributed to the magnificent city museums and the majestic outdoor areas. Not only this, but the town also fosters some of the fascinating state and national wildlife parks.
The aggregate population of Spokane is slightly over 200,000, but the small city is a part of a larger metropolitan area that scales the entire length of the Spokane Valley. All points considered, Spokane would be an ideal place to reside.
However, before you make that decision, it is vital to know about the costs of living in the area. As per a national index, living in Spokane is relatively cheaper than most of the towns in Washington.
This article talks about how much an apartment would cost you in Spokane and how you can find budget-friendly residential facilities.
Read more to find out.
Cost of an Apartment in Spokane
According to an index, the national living average in the United States is 100. In contrast, the living costs in Spokane rest at 92.3. Before jumping to any conclusion and hastening your decision, it would be best to consider average prices across the country and the state.
Housing Costs
If you consider living in Washington, you are looking at the living costs of approximately 118.7, which is pretty high than the national average. This hike in living costs is because housing in Washington is exceptionally expensive – 164.9 – compared to the national average of 100.
Comparisons
Another helpful comparison would be that of Seattle and Spokane. On one side of the table, Seattle’s living costs can hike as high as 172.3, and the housing costs can be as high as 309.
On the other side, when contrasted with the statewide average, it is clear that living in Spokane is an excellent deal. Alongside the low costs of living, Spokane also has pretty modest housing prices. The cost of housing in Spokane is 94.2. This figure clearly shows that Spokane has many affordable apartments in the city.
How Much In Real Bucks?
The majority of the monthly rent of residential properties in Spokane lies between $500 – $1300. Less than 10% surpass the monthly rent of $2,000.
The rents significantly depend upon the size of the apartment. Out of all the residential properties, studios are the cheapest, having the median monthly rent of $718.
One-bedroom apartments, two-bedroom apartments, three-bedroom apartments and four-bedroom apartments can cost around $986, $1,187, $1,550, and $1,762 respectively.
It would be wise to have some backup money stored in your residential budget to account for a sudden hike in prices. However, it is noteworthy that, over time, the rents of the apartments in Spokane have decreased.
Where to Find Budget-Friendly Apartments in Spokane?
The housing is relatively cheap in Spokane, so you should face no problem finding an inexpensive apartment. Some of these ways include:
- Consider expanding your search for apartments into metropolitan areas.
- Consider opting to live in a smaller place
- You can try moving in with a roommate and divide the rent
- You can try finding an apartment complex with all the facilities you might need without adding additional costs per month.
Budget-Friendly Locations in Spokane
There might be some places in Spokane that could bore a hole in your budget, but most of them are pretty affordable. Some of these affordable neighborhoods include:
- Five Mile Prairie
- Lincoln Heights
- Thorpe Westwood
- Balboa
- West Spokane
Final Word
The costs of living in Spokane are modest and affordable. Moreover, the Spokane real estate market has some amazing real estate agents you could always approach to get the best deals to buy or rent properties in Spokane.
What’s your budget, and do you think you could live in Spokane? Let us know in the comments!
