M
MortgageMath
Free mortgage calculators for every state

Mortgage Calculator &
Closing Costs: Spokane, WA

Mortgage payment estimates, closing cost breakdowns, and homebuying data for Spokane, Washington.

Median Home Price
$365K
Population
229K
Avg Monthly Rent
$1,350
Property Tax Rate
0.98%
Spokane vs Washington Median
The median home price in Spokane is $365,000, which is 37% below the Washington state median of $580,000.

Mortgage Calculator — Spokane, WA

Pre-filled with Spokane median home price and Washington tax/insurance rates. Adjust for your property.

$
$73,000
%
%
years
WA avg
%
$
Monthly Payment (PITI)
$2,277
Principal + Interest + Tax + Insurance + PMI
Principal & Interest
$1,846
per month
Taxes & Insurance
$431
per month
Total Interest Paid
$372K
over 30 years
Total Loan Cost
$664K
all payments
Payment Breakdown
Loan Amount$292,000
Principal & Interest$1,846
Property Taxes$298
Homeowners Insurance$133
Total Monthly PITI$2,277

Closing Costs — Spokane, WA

Estimated closing costs based on Washington rates and fees applied to Spokane prices.

$
%
Washington: Avg closing costs 1.4% of price. Transfer tax: 1.78%.
Estimated Closing Costs
$17,358
4.8% of purchase price
Lender Fees
$3,053
origination, underwriting
Third-Party
$3,275
appraisal, title, inspection
Government Fees
$6,497
transfer taxes, recording
Prepaids + Escrow
$4,533
taxes, insurance, interest
Itemized Costs
Loan Origination (0.8%)$2,628
Underwriting Fee$350
Credit Report$75
Appraisal$550
Home Inspection$450
Title Search + Insurance$2,125
Recording Fee$150
Transfer Tax$6,497
Prepaid Taxes (3 mo)$894
Prepaid Insurance (12 mo)$1,600
Prepaid Interest (15 days)$878
Escrow Reserves$1,161
Total Closing Costs$17,358

Buying a Home in Spokane, Washington

The median home price in Spokane is $365,000, 37% below the Washington state median of $580,000. With a population of 228,989, Spokane is a mid-size city where home prices tend to be more accessible than in many parts of Washington.

Property taxes in Washington average 0.98% annually. This moderate property tax rate means a $365,000 home in Spokane would carry roughly $298/month in property taxes. Homeowners insurance in Washington runs approximately $1,600 per year. This is within the normal range nationally.

Average rent in Spokane is $1,350/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.

Spokane presents moderate affordability. The $365K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.

Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Spokane.
Rent vs Buy Calculator →
Explore all of Washington: Washington Mortgage Calculator & Closing Costs →

Related Guides

The First-Time Buyer Playbook
Free weekly guide: mortgage tips, market updates, and money-saving strategies. No spam.