Hi there, i'm curious for anyone who is a Spokane local- which neighborhoods do you recommend as B & C class neighborhoods with solid growth?
Spokane Valley is setting very solid appreciation. Same with the north side of spokane.
I would agree with Joshua, the valley has seen a lot of growth over the last 10 years. I think Airway Heights (far west Spokane) would be growing just as fast, if not faster. Both fit into the B & C class ranges with a lot of job growth and expansion. Some of the upper south hill has great neighborhoods in the B to even A range with a slower but steady growth.
I'm heading to Spokane this week to look around the region, see some property, and network with some local RE pros. Not a native, but I can share any insights here afterward.
You're getting around 10% appreciation YOY across the board (11.7% median home price increase YOY in July according to the Spokane Association of Realtors).
So, 'where's the best neighborhood' comes down to your personal preference and the factors you want in a property. @Joshua Norwood is absolutely right about the Valley, it's a great community out there.
If you're pretty open to location I'd look for the best schools, lowest crime, proximity to economic centers like hospitals and the universities, the Air Force Base, etc and you won't go too far wrong in Spokane. There are areas you should avoid though so link up with a local pro for street by street/property specific advice.
The South Perry Distract and along Garland are areas that seem to be experiencing appreciation. I personally love the area along Wellesley between Driscoll and Division as well as further to the Northwest. Not as much appreciation but very comfortable neighborhoods with stable renters.
Thanks all! That's very helpful. @Chris Williams it would be great to hear your findings. I'm originally from WA but out of the country for now, so it's challenging to get the lay of the land.
The valley seems to be a good value still, and with a lower crime rate than metro Spokane. Although, sounds like there's some great pockets in and around the metro area if you know where to look.
I also looked at Cheney but it seems like that could be risky right now because it's reliant on EWU. Is that a fair assumption?
I work and live in Cheney. I am a major optimist post pandemic. I think commercial real estate in the area is going to be moving backwards for awhile but starting 12 months from now I'd love to own multifamily or single family in Cheney.
I'm from Spokane but hadn't been home for years until I went back two weeks ago with the plan to find the best areas in which to invest. I can tell you that it has a lot of areas that are easy picks, like Cliff/Cannon, Kendall Yards, etc. I drove a lot of the city and noticed there were quite a few small areas where a portion of the neighborhood had been fixed up and the other half was pretty run down but the neighborhood was heading in the right direction. I really think you need feet on the ground to pick these neighborhoods but I saw A LOT of potential.
I've been in working with @Phil Wells , and he is such a great local resource. He has been so helpful in my search, he would be worth reaching out to touch base with.
As promised, I've returned from Spokane!
Nice neighborhoods we saw there:
- Cliff-Cannon. Small neighborhood south of Downtown. Gorgeous older homes here. A few need work, but most are well-kept.
- South Hill area (South Perry, Lincoln Heights, etc.). Tons of housing out this way, most of it in great condition with nicely-spaced neighborhoods. Lots of new construction going on in the southeast region too.
- Far North area (Country Homes, Nevada-Lidgerwood). A little more relaxed of a region, with a wide variety of homes old & new.
I was not enamored with the Emerson Garfield district. It has a few well-maintained homes, though some of the neighborhoods look fairly run down. I didn't feel unsafe there, but it's not exactly sparkling clean. You pays your money and you takes your chances.
One encouraging thing I did see: Spokane's not only building new homes. It's building new schools and libraries!
And as a final note, I 100% agree with Rebecca... @Phil Wells is indeed an excellent local resource, and a solid agent. Knows his stuff and he knows this area.