Millwood, WA housing market
The typical Millwood home is worth about $362,000, up 1.2% in a year, 39% below the Washington typical home.
Home values, sales, trends and how Millwood compares with the towns next door — updated as new data is published.
Millwood at a glance
Only 4 sales in April 2026: in a market this size, monthly medians swing a lot, so the typical value above is the steadier guide.
Typical home value, 2016–2026
Show as a table
| January | Millwood | Washington |
|---|---|---|
| 2017 | $171,000 | $326,000 |
| 2018 | $185,000 | $362,000 |
| 2019 | $203,000 | $390,000 |
| 2020 | $232,000 | $413,000 |
| 2021 | $271,000 | $471,000 |
| 2022 | $330,000 | $554,000 |
| 2023 | $352,000 | $572,000 |
| 2024 | $349,000 | $582,000 |
| 2025 | $358,000 | $605,000 |
| 2026 | $368,000 | $601,000 |
| August 2026 | $362,000 | $592,000 |
No new homes permitted in 2025
No permits for new homes were issued in Millwood in 2025. The last year with any was 2024 (1 new home).
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Millwood gained 95 residents while 10 new homes were permitted: about 9.5 new residents per new home. Population grew faster than building, so existing homes filled up: a sign of tight supply. Across Washington: 2.7 new residents per new home.
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 1 | 1 | 0 | $30,000 |
| 2025 | 0 | 0 | 0 | — |
| 2024 | 1 | 1 | 0 | $30,000 |
| 2023 | 0 | 0 | 0 | — |
| 2022 | 1 | 1 | 0 | $250,000 |
| 2021 | 1 | 1 | 0 | $250,000 |
| 2020 | 9 | 2 | 7 | $1.5 million |
| 2019 | 3 | 3 | 0 | $525,000 |
| 2018 | 5 | 5 | 0 | $804,000 |
| 2017 | 0 | 0 | 0 | — |
| 2016 | 0 | 0 | 0 | — |
| 2015 | 0 | 0 | 0 | — |
| 2014 | 2 | 2 | 0 | $532,000 |
| 2013 | 0 | 0 | 0 | — |
| 2012 | 0 | 0 | 0 | — |
| 2011 | 0 | 0 | 0 | — |
| 2010 | 0 | 0 | 0 | — |
| 2009 | 0 | 0 | 0 | — |
| 2008 | 3 | 1 | 2 | $384,000 |
| 2007 | 3 | 3 | 0 | $212,000 |
| 2006 | 0 | 0 | 0 | — |
| 2005 | 9 | 3 | 6 | $789,000 |
| 2004 | 0 | 0 | 0 | — |
| 2003 | 1 | 1 | 0 | $109,000 |
| 2002 | 1 | 1 | 0 | $109,000 |
| 2001 | 3 | 3 | 0 | $260,000 |
| 2000 | 0 | 0 | 0 | — |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Millwood and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Millwood | $362K | +1.2% | $1,450 | 0 | $83,068 |
| Spokane Valley | $411K | +0.4% | $1,570 | 855 | $74,042 |
4.4 years of income
The typical Millwood home costs about 4.4 years of the town's median household income, less than across Washington (6 years).
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,450
HUD's Fair Market Rent for a two-bedroom in Millwood is $1,450 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Millwood pay a median of $1,134, so moving in tends to cost more than staying put. A two-bedroom takes about 21% of the town's median household income.
Studio $1,050 · 4 bedrooms $2,380
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (99206, 99212; Spokane, WA HUD Metro FMR Area), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, April 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.