Mortgage Rates in Spokane Valley, Washington — March 2026
Updated March 2026 | Based on Spokane Valley market data and regional lending conditions
Spokane Valley is a growing city in Washington with a population of 103,597. The current 30-year fixed mortgage rate in Spokane Valley is 6.75%, which is 0.1% above the national average. With a median home price of $586,000 and a 20% down payment of $117,200, homebuyers can expect a monthly principal and interest payment of approximately $3,041.
Current Mortgage Rates in Spokane Valley, WA
Below are the current average mortgage rates available in the Spokane Valley area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.75% | 6.65% | +0.1% |
| 15-Year Fixed | 5.99% | 5.89% | +0.1% |
| 5/1 ARM | 6.25% | 6.15% | +0.1% |
| FHA | 6.5% | 6.25% | +0.25% |
| VA | 6.25% | 6.05% | +0.2% |
| Jumbo | 7% | 6.85% | +0.15% |
Spokane Valley Housing Market Overview
The Spokane Valley housing market is competitive with prices well above the national median. The median household income in Spokane Valley is $76,100, and the cost of living index is 123.1 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $150,000 to comfortably afford the median-priced home in Spokane Valley, which exceeds the current median household income.
Monthly Payment Breakdown for Spokane Valley
Based on the median home price of $586,000 with 20% down ($117,200), here is what you can expect to pay monthly in Spokane Valley:
15-Year vs. 30-Year Mortgage in Spokane Valley
Choosing a 15-year mortgage in Spokane Valley at 5.99% instead of a 30-year at 6.75% would save you $383,220 in total interest over the life of the loan. However, your monthly payment would be $3,953 instead of $3,041 — an increase of $912 per month.
Calculate Your Spokane Valley Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Spokane Valley
What are the current mortgage rates in Spokane Valley, WA?
As of March 2026, the average 30-year fixed mortgage rate in Spokane Valley, Washington is 6.75%, while the 15-year fixed rate is 5.99%. FHA loans average 6.5% and VA loans 6.25%. These rates are 0.1% above the national average of 6.65%.
How much is a monthly mortgage payment in Spokane Valley?
Based on the median home price of $586,000 with 20% down, the estimated monthly mortgage payment in Spokane Valley is $3,041 for principal and interest. Including property taxes of $459/month, the total monthly housing cost is approximately $3,500.
What income do I need to buy a home in Spokane Valley?
Using the 28% rule, you would need an annual income of approximately $150,000 to afford the median-priced home in Spokane Valley at $586,000. The median household income in Spokane Valley is $76,100. This means most households would need to either earn above the median or consider homes below $586,000.
Is Spokane Valley a good place to buy a home in 2026?
Spokane Valley has a higher cost of living than average with a cost of living index of 123.1 (national average = 100). The property tax rate in Washington is 0.94%, which is near the national average. Spokane Valley has a population of 103,597 and offers a balanced lifestyle.
Mortgage Rates in Other Washington Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Spokane Valley, Washington area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.