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 a population of 27,516, 10,596 total housing units (homes and apartments), and a median house value of $291,501, 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'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 -0.02%, which is lower than 70% of US communities.
Appreciation rates are so strong in Winchester that despite a nationwide downturn in the housing market, Winchester real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Winchester appreciation rates continue to be some of the highest in America, at 6.81%, which is higher than appreciation rates in 74.51% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Winchester. Winchester appreciation rates in the latest quarter were at 2.30%, which equates to an annual appreciation rate of 9.51%.
Importantly, this makes Winchester one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Virginia, our data show that Winchester's latest annual appreciation rate is higher than 90% 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.
|$928,001 - $1,237,000||0.9|
|$619,001 - $928,000||6.0|
|$495,001 - $619,000||4.9|
|$371,001 - $495,000||10.5|
|$247,001 - $371,000||24.4|
|$124,001 - $247,000||42.8|
|$62,001 - $124,000||6.3|
|$0 - $62,000||3.9|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2018 Q1 - 2018 Q2
Last 12 Months:
2017 Q2 - 2018 Q2
Last 2 Years:
2016 Q2 - 2018 Q2
Last 5 Years:
2013 Q2 - 2018 Q2
Last 10 Years:
2008 Q2 - 2018 Q2
2000 Q1 - 2018 Q2
|* 10 is highest|
|AGE OF Winchester HOMES|
|2000 or Newer||9.3|
|1970 - 1999||39.0|
|1940 - 1969||31.8|
|1939 or Older||19.9|
|TYPE OF Winchester HOMES|
|Small Apt. Buildings||13.1|
|SIZE OF Winchester HOMES|
|5 or more bedrooms||4.06|