Spokane Rental Market Report 2026: Trends Landlords Should Know

Spokane Rental Market Snapshot – August 2026

The following figures provide a broad view of current Spokane housing and investment conditions:

• Average Spokane rent: Zillow reported $1,430 across all bedroom counts and property types as of August 22, 2026.
• Monthly rent change: The reported average was $20 lower than the previous month.
• Annual rent change: The reported average was $90 lower than the previous year.
• Available rentals: Zillow reported 862 available rentals in Spokane.
• Market temperature: Zillow classified Spokane as a cool rental market based on changes in renter demand relative to the national market.
• Spokane County population: The U.S. Census Bureau estimated 558,344 residents as of July 1, 2025, approximately 3.5% above the April 2020 estimate base.
• Mortgage-rate environment: Freddie Mac reported a 6.65% average 30-year fixed mortgage rate on August 20, 2026. Financing for rental and investment properties can differ from that benchmark.

These figures should not be used as a rental recommendation for an individual property. Zillow’s rent figure combines different bedroom counts and property types, while the number of available rentals can change daily. A single-family home, apartment, duplex, condominium rental and townhome can produce very different results within the same city.

What Current Rent Data Means for Spokane Rental Owners

The current numbers point to a more selective market rather than a uniform decline across every rental category. Broad averages can move as the mix of available apartments and homes changes. A property-specific recommendation should consider location, bedroom count, square footage, configuration, condition, parking, outdoor space, pet policy, utilities, amenities and current competing listings.

Owners should also pay attention to market response after a rental is listed. Inquiry volume, showing activity, applicant interest and comparable listing changes can reveal whether the initial price is aligned with current demand. No pricing strategy can guarantee a particular rent or leasing timeline, but an informed starting price can reduce the risk of preventable vacancy.

The Hornberger Group’s complimentary rental analysis considers the specific property rather than relying solely on a citywide average.

Rental Supply and Pricing Competition

Zillow reported 862 available Spokane rentals as of August 22, 2026. That number is not an official vacancy rate, but it does illustrate that prospective tenants have multiple listings to compare.

In a market with visible competition, rental owners should review more than the highest advertised rent. An overpriced property can remain available while accurately priced alternatives attract inquiries and applications. Condition, photographs, listing accuracy, showing availability and communication can also influence market response.

Professional leasing and tenant placement can help coordinate property-readiness planning, rental analysis, marketing, inquiries, showings, application processing, lease preparation and move-in documentation.

Population Growth Supports Rental Housing, but Does Not Guarantee Performance

The U.S. Census Bureau estimated Spokane County’s population at 558,344 on July 1, 2025, up approximately 3.5% from its April 2020 estimate base. Continued population growth creates an ongoing need for housing across the region.

Spokane also has a diverse employment base that includes healthcare, education, government, logistics, manufacturing and regional services. These sectors support a variety of renter households and property types.

Population growth alone does not guarantee occupancy, rent growth or investment performance. A property’s results still depend on its location, condition, expenses, pricing and the competing rental inventory available when it enters the market.

Spokane Neighborhoods and Submarkets Do Not Perform the Same

Citywide averages can hide significant differences between neighborhoods and property types. Downtown-adjacent apartments, South Hill rental homes, North Spokane properties and rentals in Spokane Valley can appeal to different tenant pools and compete at different price points.

Nearby markets such as Liberty Lake, Airway Heights, Cheney and Medical Lake should also be evaluated separately. Employment access, schools, parking, property size, neighborhood setting and current supply can affect renter interest in each market.

Owners should compare a rental with similar properties in the same relevant market rather than applying one Spokane-wide rent figure to every property.

Financing Remains a Major Investment Variable

Freddie Mac reported an average 30-year fixed mortgage rate of 6.65% on August 20, 2026. That national benchmark applies to qualifying conventional loans and does not represent the rate or terms every rental-property investor will receive.

Higher borrowing costs place more pressure on property-level underwriting. Investors should evaluate expected rent alongside financing, property taxes, insurance, maintenance reserves, vacancy, turnover, improvements and management costs. A strong advertised rent does not automatically produce strong cash flow.

Financing, tax structure and investment returns should be reviewed with qualified lending, accounting, tax and legal professionals.

Property Condition Matters in a More Competitive Market

When renters have multiple options, property condition and presentation become more important. Clean interiors, completed repairs, functional systems, accurate photographs and a clear listing can help a rental compete without relying entirely on price.

Owners should address material maintenance issues before marketing whenever practical. Our maintenance and repair coordination supports property-specific work orders, communication, documentation and owner-approved repairs. When a property needs a broader update, value-add remodeling may help coordinate an appropriate improvement scope based on condition, budget and the property’s intended rental market.

Improvements should be evaluated individually. No renovation automatically produces a particular rent increase, leasing result or investment return.

2026 Rules Spokane Rental Owners Must Consider

Rental strategy in 2026 must account for current state and local requirements as well as market conditions. For residential properties subject to Washington’s Residential Landlord-Tenant Act and not specifically exempt, the Washington State Department of Commerce lists a maximum annual rent increase of 9.683% for January 1 through December 31, 2026. Additional restrictions, notice requirements and exemptions may apply.

The City of Spokane also has local requirements affecting certain rental properties and tenancies. These include its eviction-prevention process for qualifying nonpayment matters and its newly adopted cooling requirements. Owners can review our updates on Spokane eviction-prevention requirements and the Spokane Right to Cooling law.

Requirements can change and their application is fact-specific. The Hornberger Group is not a law firm and does not provide legal advice. Rental owners should review current government guidance and consult qualified legal counsel when legal interpretation is required.

What Spokane Rental Owners Should Do Now

• Review pricing against comparable properties with similar location, size, configuration and condition.
• Evaluate current competing listings instead of relying only on historical rent or citywide averages.
• Complete material repairs and property-readiness work before marketing whenever practical.
• Use clear photographs, accurate listing information and a consistent inquiry and showing process.
• Calculate performance after financing, taxes, insurance, maintenance, vacancy, turnover and management costs.
• Review current Washington and City of Spokane requirements before changing rent, notices, lease documents or compliance procedures.
• Monitor market response after listing and adjust the strategy when the available evidence supports a change.

Spokane Rental Market Outlook for the Remainder of 2026

Current data suggests that Spokane remains an active but more balanced rental market. Population growth and the region’s employment base continue to support housing demand, while softer average rent data and visible listing supply make pricing discipline increasingly important.

The remainder of 2026 is unlikely to affect every property in the same way. Well-positioned rentals may continue to attract meaningful interest, while properties with deferred maintenance, weak presentation or unsupported pricing may face more competition. Owners should base decisions on property-specific evidence rather than broad predictions.

For additional regional data and comparisons with Spokane Valley and North Idaho, review The Hornberger Group’s Spokane and North Idaho Market Report for Q2 2026.

How The Hornberger Group Supports Spokane Rental Owners

The Hornberger Group provides Spokane property management for qualifying long-term residential rentals. Our services may include rental analysis, property-readiness planning, leasing, application processing under written rental criteria, rent collection, maintenance coordination, lease administration and owner reporting.

Professional management cannot guarantee occupancy, rent growth or investment performance. It can provide an organized process for pricing, marketing, documentation, communication and ongoing property operations.

Sources and Data Notes

• Zillow Spokane Rental Market Data: rental figures reviewed August 24, 2026
• U.S. Census Bureau QuickFacts for Spokane County: latest available population estimate reviewed August 24, 2026
• Freddie Mac Primary Mortgage Market Survey: rate published August 20, 2026
• Washington State Department of Commerce Landlord Resource Center: 2026 maximum annual rent increase information
• Spokane Municipal Code Chapter 10.57: local rental-housing requirements

Rental listings, advertised rents, mortgage rates and market conditions can change frequently. These figures provide a dated market snapshot and should not be interpreted as a valuation, rent guarantee, investment recommendation, legal opinion or financial projection for a specific property.

Get a Property-Specific Spokane Rental Analysis

Citywide averages cannot determine the appropriate rent or management strategy for an individual property. If you own a qualifying long-term rental in Spokane or the surrounding area, request a complimentary rental analysis from The Hornberger Group.

We can review the property’s location, configuration, condition, current competition and management requirements. You can also call (509) 565-8659 to discuss your rental.

Comparing management options? Read our guide to choosing a Spokane property management company or browse our complete rental property and market insights.