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The commute to dowtown Spokane from Liberty Lake is about 25 minutes if you take the freeway all the way into town.
As far as housing prices go, you can search on Realtor.com for current listings. Liberty Lake is a fairly "new" community so most of the housing is either brand new or fairly new. There are also some condo options there too. Depending on how fancy you want, you can get a nice home for around $200,000. Greenacres is on the north side of the freeway and is a nice little area too with a lot of newer construction.
Just a piece of info: Liberty Lake is a nice area but you need to be prepared for awful wind. I used to have to go to Liberty Lake several times a week for work and 90% of the time, the wind was crazy.
We love it here - the area really is affordable and offers so much to do. Hope that helps some.
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