MORE HOUSING…NOW!

because everyone needs a home.

SPOKANE

is facing an unprecedented shortage of homes. By our estimates, we are 25% under-built. For over 10-years, strict housing policies have forced many builders to focus construction in places other than the City of Spokane. This lack of supply has driven prices to record levels, making housing opportunities less affordable, and double-digit rent escalation.

but there are

SOLUTIONS.

SPOKANE BY THE NUMBERS

Home construction challenges:

  • percentage of newly constructed homes in Spokane/Coeur d’Alene Market:
    • 2013: 84%
    • 2023: 7%
  • available homes for sale 10-year decline:
    • July 2013: 2,758 homes for sale
    • July 2023: 994 homes for sale
  • affordable housing impacts:
    • 2019 number of homes under $200k: 52%
    • 2023 number of homes under $200k: 5% 
  • median home price Spokane County:
    • July 2018: $235,000
    • July 2023: $420,000
      • 80% increase in 5 years

Home prices:

  • median home price in Spokane County: $420,000
  • salary needed to buy the average home: $120,000
    • Percentage of Spokane families that cannot afford the average home: 80%