Spokane Rental/Multi Family Sales Price Per Unit Drops $50,000 in 2024
According to Costar, Spokane rentals have seen a significant decrease in average sales price per unit, dropping from $173,923 in 2023 to $123,906 in 2024. This marks the largest year-over-year change (29%) in average sales price since 2013.
This drop comes after three consecutive years of significant per-unit growth. In fact, 2020 is the only other down year since 2014.
Sources: 2025 Real Estate Market Forum (https://www.skrerc.com) Costar/NAI Black
However, this data point doesn’t tell the whole story for the Spokane rental market. When reviewing overall sales volume for Spokane rental sales year over year, we saw a significant increase in total sales volume in 2024, reaching $181,498,000, compared to $106,262,000 in 2023.
This surge is largely due to two notable Spokane apartment sales, which accounted for $70 million—nearly 40% of the total volume sold in 2024.
If you’re a rental owner in Spokane, WA, and need guidance on navigating the market, contact us today. Let’s discuss how we can help you succeed in the evolving rental landscape.
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