Cost of Living in Fairwood CDP (Spokane County), WA

With a cost of living index of 107, Fairwood CDP (Spokane County), WA is somewhat more expensive than average. Living here is 7% more expensive than the national average and 12% below the Washington state average of 119. Fairwood CDP (Spokane County) is a smaller community of 10,439 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Fairwood CDP (Spokane County)'s cost of living. The median monthly rent is $1,191 (10% below the US median of $1,319), and the median home value sits at $435,200 (43% above the national median of $304,900). At current prices, the median home costs roughly 5.1x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Fairwood CDP (Spokane County) is $84,911, which is 13% higher than the national median of $75,149. Residents spend roughly 17% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Fairwood CDP (Spokane County). The area sees an average annual temperature of 49.8°F, with summers averaging 68°F and winters around 33°F. Annual rainfall totals 17.4 inches spread over roughly 119 days.

Everyday prices in the Spokane-Spokane Valley, WA (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 5 are priced higher than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.