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Perry District (South Perry)

Spokane, WA

Neighborhood Market Analysis

Q3 2025 Report
$395,495 (Feb 2025, +11.4% YoY)
Median Home Price
74 (Very walkable for Spokane)
Walkability Score
Generally above average for Spokane; Grant Elementary is highly regarded for community involvement.
School Rating

Location Overview

Neighborhood Boundaries

Roughly bounded by E 8th Ave (north), S Perry St (main corridor), E 14th Ave (south), S Sherman St (west), and S Crestline St (east)

Zip Codes

99202

Market Data Summary

Price Range$325,000–$525,000 (typical range for single-family homes)
Price per Sq Ft$268.75–$321 (2025)
Inventory Levels11 active listings (July 2025), up from previous months, but still tight relative to demand.

Property Characteristics

Home Types & Architecture

Home Types

Single-family homesCraftsman bungalowsCottagesTownhomes (limited)

Architectural Styles

CraftsmanBungalowVictorianContemporary infill

Property Details

Typical Lot Sizes0.10–0.20 acres (urban lots, some larger on side streets)
Home Age Range1900s–1940s (historic core), some new infill (2010s–2020s)
Construction QualityGenerally solid; many homes have been renovated, but some require updates. Historic charm is a selling point.

Community Profile

Demographics & Lifestyle

Demographics

Diverse mix: young professionals, families with children, retirees. Increasing number of remote workers and creatives.

Community Vibe

Trendy, eclectic, and tight-knit. Known for neighborhood pride, block parties, and a strong local identity.

Typical Residents

  • Young professionals
  • Families
  • Retirees
  • Remote workers
  • Artists/creatives

Family Friendly

Highly rated for families due to parks, walkability, and community events.

Amenities & Lifestyle

Parks & Recreation

  • • Grant Park (playground, sports courts)
  • • Liberty Park (nearby)

Dining Options

  • • Wisconsinburger
  • • South Perry Pizza
  • • The Grain Shed
  • • Luna

Shopping Centers

  • • Local boutiques and markets along Perry St; no major malls in district

Local Businesses

  • • The Shop (coffee)
  • • Perry Street Brewing
  • • Title Nine (boutique)
  • • Lorien Herbs & Natural Foods

Education & Schools

Generally above average for Spokane; Grant Elementary is highly regarded for community involvement.
Overall School Rating

Elementary Schools

  • • Grant Elementary

Middle Schools

  • • Sacajawea Middle School (zoned, but some students attend other nearby schools)

High Schools

  • • Lewis & Clark High School

Private Schools

  • • St. Augustine Catholic School (nearby)

Transportation & Accessibility

Transit & Roads

Public Transit

  • • Spokane Transit Authority (STA) bus routes 45, 94

Major Roads

  • • S Perry St
  • • E 8th Ave
  • • E 14th Ave

Commute & Walkability

Commute Times10–15 minutes to downtown Spokane by car; 20–30 minutes by bus.
WalkabilityHigh for Spokane; most errands can be accomplished on foot within the district.
ParkingStreet parking is generally available but can be tight during events or weekends.

Marketing Intelligence

Target Buyer Types

  • Young professionals
  • Families with children
  • Remote workers
  • Investors (long-term rental)

Key Selling Points

  • Historic architecture
  • Vibrant local scene
  • Walkability
  • Strong appreciation

Pricing Considerations

Price competitively if home needs updates; premium for renovated, move-in-ready properties.

Common Objections & Response Strategies

Objection: Older homes may need repairs or updates.

Response Strategy:

Highlight recent renovations, inspection reports, and available renovation loans.

Objection: Higher prices compared to other Spokane neighborhoods.

Response Strategy:

Emphasize appreciation, walkability, and unique lifestyle value.

Objection: Limited parking during events.

Response Strategy:

Point out alternative transit options and typical parking availability outside event times.

Investment Insights

Investment Potential

Appreciation Potential

Strong; 11.4% YoY price growth in 2025, with continued demand for historic homes and walkable neighborhoods.

Rental Demand

High, especially for renovated homes and units near Perry St. corridor.

Buyer Competition

Moderate to high; multiple offers on well-priced homes, but longer DOM for homes needing updates.

Best For

  • Owner-occupants seeking community
  • Investors targeting long-term appreciation
  • Buyers seeking walkability and lifestyle

Potential Concerns

  • Affordability for first-time buyers
  • Older homes may require renovation
  • Limited inventory

Professional Recommendations

1

Leverage neighborhood events and local business partnerships for marketing.

2

Educate buyers on renovation financing and historic home maintenance.

3

Price homes strategically based on condition and proximity to Perry St. amenities.

4

Highlight community involvement and lifestyle in all marketing materials.

5

Prepare for longer days on market for homes needing updates; set seller expectations accordingly.

Competitive Analysis

Comparable Markets

  • Browne's Addition
  • Kendall Yards
  • Manito/Cannon Hill

Market Positioning

Trendy, lifestyle-focused neighborhood with strong community identity.

Competitive Advantages

  • Superior walkability
  • Unique historic character
  • Active local business scene

Price Comparison

Priced higher per square foot than most Spokane neighborhoods except Kendall Yards and Manito.

Investment Metrics

4.5%–5.5% for single-family rentals (2025)
Cap Rates
5%–6% gross yield for updated homes
Rental Yields
18–20 (higher than Spokane average, reflecting lifestyle premium)
Price-to-Rent
Positive for well-priced, updated properties; tighter for high-end or unrenovated homes.
Cash Flow
Continued above-average appreciation expected, but pace may moderate as market stabilizes.
Appreciation

Buyer Journey Insights

First-Time Buyers

Challenging due to price point, but possible with renovation loans or smaller homes. Emphasize community and walkability.

Move-Up Buyers

Strong appeal for families seeking larger historic homes or proximity to amenities.

Downsizers

Attractive for those seeking walkability and low-maintenance living, but limited single-level options.

Investors

Good long-term prospects, especially for renovated rentals or ADU potential.

Relocators

Popular with out-of-state buyers seeking lifestyle, community, and affordability relative to West Coast metros.

This neighborhood analysis was generated using hyperlocal data and AI intelligence.

Neighborhood conditions change - consult with local real estate professionals for the most current information.

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