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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 28,108 people, 10,554 houses or apartments, and a median cost of homes of $325,976, 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 57.15% of the city's housing units. Other types of housing that are prevalent in Winchester include large apartment complexes or high rise apartments ( 17.43%), row houses and other attached homes ( 14.26%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 10.79%).
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 45.18% owning and 54.82% 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 ( 30.85%). A lesser amount of the housing stock also hails from before 1939 ( 24.50%). There's also some housing in Winchester built between 2000 and later ( 10.65%).
Vacant housing appears to be an issue in Winchester. Fully 11.28% 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.
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 33.15%, which ranks in the top 50% nationwide. This equates to an annual average Winchester house appreciation rate of 2.90%.
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 2.41%, 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 0.47%, which equates to an annual appreciation rate of 1.88%.
Relative to Virginia, our data show that Winchester's latest annual appreciation rate is lower than 80% 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.
|$878,001 - $1,172,000||1.3|
|$586,001 - $878,000||6.8|
|$469,001 - $586,000||6.2|
|$351,001 - $469,000||11.9|
|$234,001 - $351,000||29.1|
|$117,001 - $234,000||40.0|
|$58,001 - $117,000||2.4|
|$0 - $58,000||2.3|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
2000 Q1 - 2020 Q2
|* 10 is highest|
|AGE OF Winchester HOMES|
|2000 or Newer||10.7|
|1970 - 1999||34.0|
|1940 - 1969||30.9|
|1939 or Older||24.5|
|TYPE OF Winchester HOMES|
|Small Apt. Buildings||10.8|
|SIZE OF Winchester HOMES|
|5 or more bedrooms||4.65|