West Chester, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating West Chester Neighborhoods Since 2000




West Chester, PA 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

West Chester Housing Market Information

With 19,842 people, 6,639 houses or apartments, and a median cost of homes of $316,218, West Chester house prices are not only among the most expensive in Pennsylvania, West Chester real estate also is some of the most expensive in all of America.

Large apartment complexes or high rise apartments are the single most common housing type in West Chester, accounting for 34.10% of the borough's housing units. Other types of housing that are prevalent in West Chester include row houses and other attached homes ( 28.13%), single-family detached homes ( 20.49%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 17.15%). Boroughs that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of boroughs are often walkable and compact, and often have a lively downtown.

West Chester is dominated by renter-occupied one, two, or no bedrooms apartments. 69.75% of West Chester's dwellings are rentals.

The housing in West Chester was primarily built before 1939 ( 50.16%), making the housing stock in West Chester some of the oldest overall in America, although there is a range of ages of homes in West Chester. The next most important housing age is between 1940-1969 ( 25.32%), followed by between 1970-1999 ( 20.39%). There's also some housing in West Chester built between 2000 and later ( 4.13%).

West Chester Home Appreciation Rates

Appreciation rates for homes in West Chester have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 7.51%, which ranks in the top 40% nationwide. This equates to an annual average West Chester house appreciation rate of 0.73%.

NeighborhoodScout's data show that during the latest twelve months, West Chester's appreciation rate, at 3.56%, has been at or slightly above the national average. In the latest quarter, West Chester's appreciation rate has been 0.08%, which annualizes to a rate of 0.32%.

Relative to Pennsylvania, our data show that West Chester's latest annual appreciation rate is higher than 70% of the other cities and towns in Pennsylvania.

One very important thing to keep in mind is that these are average appreciation rates for the borough. Individual neighborhoods within West Chester differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in West Chester - 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 West Chester real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$316,218

West Chester, PA HOME PRICES

Value Range
> $1,108,000 0.7
$831,001 - $1,108,000 1.8
$554,001 - $831,000 8.9
$443,001 - $554,000 12.4
$332,001 - $443,000 26.8
$222,001 - $332,000 27.6
$111,001 - $222,000 16.3
$56,001 - $111,000 2.7
$0 - $56,000 2.8

Very High for PA
Very High for Nation

Value Relative to Nation Value Relative to State
14.9361303175905 6.3768115942029

Number Of Homes And Apartments:
6,639

West Chester Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
PA*
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
96.88% 4.01% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,472 / per month

Homeownership Rate

Homeownership
Owners 30.25
Renters 69.75
Vacant 5.68

Housing Market Details

 

Age of Homes

AGE OF West Chester HOMES
2000 or Newer 4.1
1970 - 1999 20.4
1940 - 1969 25.3
1939 or Older 50.2

Types of Homes

TYPE OF West Chester HOMES
Single-Family 20.5
Townhomes 28.1
Small Apt. Buildings 17.1
Apt. Complexes 34.1
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF West Chester HOMES
No Bedroom 3.96
1 Bedroom 24.45
2 Bedrooms 26.51
3 Bedrooms 27.23
4 Bedrooms 11.37
5 or more bedrooms 6.48