Winchester, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Winchester, VA 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 Q3 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (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 27,516, 10,596 total housing units (homes and apartments), and a median house value of $287,497, Winchester real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Winchester, accounting for 53.30% of the city's housing units. Other types of housing that are prevalent in Winchester include large apartment complexes or high rise apartments ( 20.05%), duplexes, homes converted to apartments or other small apartment buildings ( 13.12%), and a few row houses and other attached homes ( 12.84%).

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 43.85% owning and 56.15% renting.

There is a lot of housing in Winchester built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Winchester built between 1940-1969 ( 31.81%). A lesser amount of the housing stock also hails from before 1939 ( 19.93%). There's also some housing in Winchester built between 2000 and later ( 9.29%).

Vacant housing appears to be an issue in Winchester. Fully 11.02% 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

Winchester's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Winchester during the period has been just 0.41%, which is lower than 70% of US communities.

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 3.64%, 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 -2.13%, which equates to an annual appreciation rate of -8.23%.

Notably, Winchester's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Virginia, our data show that Winchester's latest annual appreciation rate is higher than 50% of the other cities and towns in Virginia.

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:
$287,497

Winchester, VA HOME PRICES

Value Range
> $1,220,000 0.2
$915,001 - $1,220,000 0.9
$610,001 - $915,000 6.0
$488,001 - $610,000 4.9
$366,001 - $488,000 10.5
$244,001 - $366,000 24.4
$122,001 - $244,000 42.8
$61,001 - $122,000 6.3
$0 - $61,000 3.9

High for VA
High for Nation

Value Relative to Nation Value Relative to State
20.9343065693431 24.7933884297521

Number Of Homes And Apartments:
10,596

Winchester Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2018 Q2 - 2018 Q3
Last 12 Months:
2017 Q3 - 2018 Q3
Last 2 Years:
2016 Q3 - 2018 Q3
Last 5 Years:
2013 Q3 - 2018 Q3
Last 10 Years:
2008 Q3 - 2018 Q3
Since 2000:
2000 Q1 - 2018 Q3
77.06% 3.09%
8
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,326 / per month

Homeownership Rate

Homeownership
Owners 43.85
Renters 56.15
Vacant 11.02

Housing Market Details

 

Age of Homes

AGE OF Winchester HOMES
2000 or Newer 9.3
1970 - 1999 39.0
1940 - 1969 31.8
1939 or Older 19.9

Types of Homes

TYPE OF Winchester HOMES
Single-Family 53.3
Townhomes 12.8
Small Apt. Buildings 13.1
Apt. Complexes 20.1
Mobile Homes 0.7
Other 0.0

Home Size

SIZE OF Winchester HOMES
No Bedroom 3.74
1 Bedroom 11.71
2 Bedrooms 31.31
3 Bedrooms 34.91
4 Bedrooms 14.28
5 or more bedrooms 4.06