Deepak Malhotra, Investor & Landlord, Cheney WA,  99004

Spokane Valley Rents Up 52%!


According to the Apartment List:

Spokane Valley rents rose 52% since 2/28/20 (#1 in the country)

Boise rents rose 39% (#4 in the country)

Spokane rents rose 35% (#9 in the country)

Portland rents were up 1.1%

Seattle rents were down 1.5%

Note that Seattle requires 60 day notice for rent increases of more than 10%. It seems like this notice was not a big problem recently. https://tenantsunion.org/rights/seattle-laws-faq

I suspect that the Spokane Valley numbers are higher than Spokane partly due to people getting priced out of Coeur d’Alene. People flooded into Coeur d’Alene from all over the country during the pandemic as Idaho had few pandemic-related shutdowns.

Rents were frozen in Washington State until July 1 so I don’t know if they are only counting new rentals.

http://pages.watrust.com/WMAS-Landing-Pages-for-Watrustcom_LP-EconomicPerspectives-CurrentWeek.html