How much is a home worth in ZIP code 99223?

The typical home in 99223 is worth $500,270, based on the Zillow Home Value Index.

Are home values rising in 99223?

Home values in 99223 are up 0.6% over the past year, and up 3.8% a year over five years.

What is the typical rent in 99223?

A typical home in 99223 rents for about $1,643 a month, a gross rental yield of 3.9%.

What is the property tax rate in 99223?

The effective property tax rate in 99223 is 0.8% — roughly $4,050 a year on a typical home.

ZIP code 99223 has a population of 36,094 and a median household income of $94,279.

HousingHandbookReference data

…

U.S. ZIP Code · WA99223

Spokane County · Spokane-Spokane Valley, WA

Typical home value

$500,270^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +0.6%
5-year / yr: +3.8%
10-year / yr: +7.7%

Relative price

vs U.S.: +76.1%
vs metro: +17.8%
vs state: ≈ state median

Price history

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

The typical home in 99223 is worth $500,270 — 17.8% above the Spokane-Spokane Valley, WA median. Over the past year, values have risen 0.6%. Homes here rent for a typical $1,643 a month — a 3.9% 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: $1,643^[2]
Gross yield: 3.9%^[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: $4,050^[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: 36,094^[3]
Median household income: $94,279^[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: 8
Elementary: 5
Middle: 2
High: 1

Ferris High School
High · Grades 9–12 · Spokane School District
1,674 students
Chase Middle School
Middle · Grades 6–8 · Spokane School District
810 students
Mullan Road Elementary
Elementary · Grades PK–6 · Spokane School District
485 students
Carla Peperzak Middle School
Middle · Grades 6–8 · Spokane School District
484 students
Moran Prairie Elementary
Elementary · Grades PK–6 · Spokane School District
442 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 yield3.9%

Net yield (after ~40% expenses)2.4%

Annual rent$19,719

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$2,530

Loan principal$400,216

Down payment$100,054

Total interest paid$510,453

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 ratio2.00

Monthly cost to own$3,284

Monthly rent$1,643

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: 43rd percentile^[1]
Rental yield: 21st percentile^[2]
Property tax: 77th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 99223?: The typical home in 99223 is worth $500,270, based on the Zillow Home Value Index.
Are home values rising in 99223?: Home values in 99223 are up 0.6% over the past year, and up 3.8% a year over five years.
What is the typical rent in 99223?: A typical home in 99223 rents for about $1,643 a month, a gross rental yield of 3.9%.
What is the property tax rate in 99223?: The effective property tax rate in 99223 is 0.8% — roughly $4,050 a year on a typical home.
Who lives in 99223?: ZIP code 99223 has a population of 36,094 and a median household income of $94,279.

#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 99223 →
Otis Orchards-East Farms CDP, WA
Typical home
$501,346
Gross yield
—
99016 vs 99223 →
Spokane Valley, WA
Typical home
$501,407
Gross yield
4.0%
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%

Want similar ZIPs from outside this metro? Browse nationally similar ZIPs →

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Pit ZIP 99223 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · WA99223

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