How much is a home worth in ZIP code 99016?

The typical home in 99016 is worth $501,407, based on the Zillow Home Value Index.

Are home values rising in 99016?

Home values in 99016 are up 0.1% over the past year, and up 3.5% a year over five years.

What is the typical rent in 99016?

A typical home in 99016 rents for about $1,682 a month, a gross rental yield of 4.0%.

What is the property tax rate in 99016?

The effective property tax rate in 99016 is 0.8% — roughly $3,829 a year on a typical home.

ZIP code 99016 has a population of 21,615 and a median household income of $103,472.

HousingHandbookReference data

…

U.S. ZIP Code · WA99016

Spokane County · Spokane-Spokane Valley, WA

Typical home value

$501,407^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +0.1%
5-year / yr: +3.5%
10-year / yr: +7.6%

Relative price

vs U.S.: +76.5%
vs metro: +18.1%
vs state: ≈ state median

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 99016 is worth $501,407 — 18.1% above the Spokane-Spokane Valley, WA median. Over the past year, values have risen 0.1%. Homes here rent for a typical $1,682 a month — a 4.0% gross rental yield. The effective property tax rate is 0.8%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $1,682^[2]
Gross yield: 4.0%^[2]
Cap rate: 2.4%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 0.8%^[3]
Typical annual tax: $3,829^[3]

#Climate risk

FEMA National Risk Index ratings for Spokane County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively Moderate^[4]
Riverine flood: Relatively Moderate
Coastal flood: Not Applicable
Wildfire: Relatively Moderate
Drought: Very Low
Heat wave: Relatively Moderate
Hurricane: Not Applicable
Tornado: Relatively Low
Earthquake: Relatively Low
Winter weather: Relatively High

#Who lives here

Population: 21,615^[3]
Median household income: $103,472^[3]

#Migration

Household moves in and out of Spokane County over a year, from IRS tax-return data.

Net migration: +581^[5]
Moved in: 12,260
Moved out: 11,679

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 6
Elementary: 4
Middle: 2
High: 0

Greenacres Elementary
Elementary · Grades K–5 · Central Valley School District
614 students
Riverbend Elementary School
Elementary · Grades K–5 · Central Valley School District
602 students
Selkirk Middle School
Middle · Grades 6–8 · Central Valley School District
566 students
Greenacres Middle School
Middle · Grades 6–8 · Central Valley School District
502 students
Central Valley Virtual Learning
Elementary · Grades K–8 · Central Valley School District
99 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield4.0%

Net yield (after ~40% expenses)2.4%

Annual rent$20,182

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$2,535

Loan principal$401,125

Down payment$100,281

Total interest paid$511,613

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.94

Monthly cost to own$3,271

Monthly rent$1,682

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 20th percentile^[1]
Rental yield: 26th percentile^[2]
Property tax: 59th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 99016?: The typical home in 99016 is worth $501,407, based on the Zillow Home Value Index.
Are home values rising in 99016?: Home values in 99016 are up 0.1% over the past year, and up 3.5% a year over five years.
What is the typical rent in 99016?: A typical home in 99016 rents for about $1,682 a month, a gross rental yield of 4.0%.
What is the property tax rate in 99016?: The effective property tax rate in 99016 is 0.8% — roughly $3,829 a year on a typical home.
Who lives in 99016?: ZIP code 99016 has a population of 21,615 and a median household income of $103,472.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

99027 vs 99016 →
Otis Orchards-East Farms CDP, WA
Typical home
$501,346
Gross yield
—
99223 vs 99016 →
Spokane, WA
Typical home
$500,270
Gross yield
3.9%
99025
Otis Orchards-East Farms CDP, WA
Typical home
$496,014
Gross yield
—
99203
Spokane, WA
Typical home
$491,800
Gross yield
4.9%
99009
WA
Typical home
$490,392
Gross yield
—
99037
Spokane Valley, WA
Typical home
$488,525
Gross yield
3.8%

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#Jump to section

U.S. ZIP Code · WA99016

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