The Spokane Real Estate Pulse – Spring 2026
Title: Volume Spikes and Cooling Rents: Navigating the Spokane Spring Market
The Spokane real estate market is shaking off the winter chill with some of the most interesting data we’ve seen in years. Whether you’re a multi-family investor or a duplex owner, the March numbers signal a major shift in activity. Here is what you need to know about the current landscape.
1. Multi-Family & Duplex Sales are Exploding
March 2026 was a pivotal month for local sales volume. We saw a 91% month-over-month growth in multi-family sales, jumping from 11 units in February to 21 in March. This matches the high-performance levels we saw in early 2025 and suggests that investor confidence is returning in a big way.
Duplexes followed suit, with a significant spike to 18 units closed in March a substantial increase over the steady baseline of 7 units seen in January and February.
2. The Rental Market "Cooling" Trend
While sales volume is up, rental prices are showing signs of stabilization and slight cooling. According to the latest Zillow Rental Report:
Average Spokane Rent: Sitting at $1,424, which is down $76 month-over-month.
2026 vs. 2025: Rental rates are currently tracking below last year’s levels, with the bulk of inventory concentrated in the $1,000–$1,800 range.
Regional Comparison: Spokane remains a relative bargain, with rents roughly 21% lower than our neighbors in Coeur d'Alene, ID ($1,806).
3. Legislative Update: SHB 2664 Passed
There is a major administrative win for landlords this month. Washington House Bill 2664 has officially passed, removing the requirement to send certain legal notices via certified mail. This common-sense change simplifies the notification process for rent increases and other required communications, potentially saving owners time and reducing the logistical headache of unclaimed certified letters.
The Bottom Line: With high sales volume and cooling rents, the "Rent vs. Sell" question is more relevant than ever. If you’re curious how your property stacks up in this shifting market, use our calculator or reach out for a custom Rental CMA today.
