Real estate analyst site ranks Spokane Valley second best in state for buying over renting

Spokane Valley is the second-best city in Washington in which to buy, rather than rent, a home, according to real estate data analyst company Homearea.com.

The rankings are based on U.S. Census Bureau price to rent/buy ratio for 2017 among cities with populations of more than 60,000. Kennewick ranked highest in the state, acccording to the analysis, while Spokane was fifth.

The price to rent ratio is the median home value divided by the median annual rent and serves as a benchmark for understanding whether it is better to rent or buy in an area, according to Homarea.