Winchester, KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Winchester, KY Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Winchester Housing Market Information

With a population of 18,446, 7,765 total housing units (homes and apartments), and a median house value of $127,719, house prices in Winchester are solidly below the national average.

Single-family detached homes are the single most common housing type in Winchester, accounting for 58.76% of the city's housing units. Other types of housing that are prevalent in Winchester include duplexes, homes converted to apartments or other small apartment buildings ( 15.65%), large apartment complexes or high rise apartments ( 15.48%), and a few row houses and other attached homes ( 7.52%).

The most prevalent building size and type in Winchester are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 48.82% owning and 51.18% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Winchester's housing was primarily built during this period, from the '40s through the '60s. A full 34.25% of the city's housing hails from this era. Other housing ages represented in Winchester include homes built between 1970-1999 ( 32.68%) and housing constructed before 1939 ( 18.22%). There's also some housing in Winchester built between 2000 and later ( 14.85%).

Vacant housing appears to be an issue in Winchester. Fully 10.90% of the housing stock is classified as vacant. Left unchecked, vacant Winchester homes and apartments can be a drag on the real estate market, holding Winchester real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Winchester Home Appreciation Rates

Appreciation rates for homes in Winchester have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 0.69%, which ranks in the top 50% nationwide. This equates to an annual average Winchester house appreciation rate of 0.07%.

Over the last year, Winchester appreciation rates have trailed the rest of the nation. In the last twelve months, Winchester's appreciation rate has been 2.48%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Winchester were at -0.11%, which equates to an annual appreciation rate of -0.45%.

Relative to Kentucky, our data show that Winchester's latest annual appreciation rate is lower than 60% of the other cities and towns in Kentucky.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Winchester differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Winchester - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Winchester real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$127,719

Winchester, KY HOME PRICES

Value Range
> $1,062,000 0.5
$797,001 - $1,062,000 0.0
$531,001 - $797,000 0.7
$425,001 - $531,000 0.4
$318,001 - $425,000 4.4
$213,001 - $318,000 7.8
$106,001 - $213,000 51.2
$53,001 - $106,000 25.6
$0 - $53,000 9.3

High for KY
Low for Nation

Value Relative to Nation Value Relative to State
61.0717215516231 33.3333333333333

Number Of Homes And Apartments:
7,765

Winchester Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KY*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
27.11% 1.40% 3 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$830 / per month

Homeownership Rate

Homeownership
Owners 48.82
Renters 51.18
Vacant 10.90

Housing Market Details

 

Age of Homes

AGE OF Winchester HOMES
2000 or Newer 14.8
1970 - 1999 32.7
1940 - 1969 34.3
1939 or Older 18.2

Types of Homes

TYPE OF Winchester HOMES
Single-Family 58.8
Townhomes 7.5
Small Apt. Buildings 15.7
Apt. Complexes 15.5
Mobile Homes 2.6
Other 0.0

Home Size

SIZE OF Winchester HOMES
No Bedroom 3.99
1 Bedroom 10.65
2 Bedrooms 30.02
3 Bedrooms 39.56
4 Bedrooms 12.64
5 or more bedrooms 3.13