Market Overview
Home Prices in Cheney, WA
The median home value in Cheney, WA is $423,645 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 0.5% compared to a year ago and up 0% from two years prior.
Compared to the U.S. national median of $410,000, homes in Cheney are priced3% above average. Cheney is part of the Spokane-Spokane Valley, WA metro area.
Over the past five years, Cheney home values have risen by approximately13.3%, reflecting steady appreciation in this market.
Price History
Cheney Home Price Trend
City Comparison
Cheney vs. National Median
At $423,645, homes in Cheney cost 3% above the national median of $410,000. Buyers in Cheney should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Cheney?
20% Down Payment
$84,729
on $423,645
Monthly P&I
$2,209/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,805/mo
incl. taxes & insurance
Income Needed
$112,200
gross annual (30% rule)
10% Down Option
$42,365
+ PMI applies
Loan Amount (20% dn)
$338,916
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Cheney, WA?
The median home value in Cheney is $423,645 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 0.5% year-over-year.
How much have home prices changed in Cheney?
Over the past year, home values in Cheney have decreased by 0.5%. Over five years, prices have risen approximately 13.3%.
How much do I need to earn to buy a home in Cheney?
To comfortably afford the median home price of $423,645 with a 20% down payment ($84,729) at today's rates (6.8%), you'd need a gross annual income of approximately $112,200. This assumes keeping total housing costs at or below 30% of gross income.
How does Cheney compare to the national average home price?
The national median home value is approximately $410,000. At $423,645, homes in Cheney are 3% above the national average.
What metro area is Cheney part of?
Cheney is part of the Spokane-Spokane Valley, WA metropolitan area. Home prices and market conditions can vary across the broader metro region.