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 $335,798, 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 37.69%, which ranks in the top 30% nationwide. This equates to an annual average Winchester house appreciation rate of 3.25%.
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 7.44%, which is higher than appreciation rates in 96.72% 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 2.00%, which equates to an annual appreciation rate of 8.26%.
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.
|$908,001 - $1,211,000||1.3|
|$606,001 - $908,000||6.8|
|$484,001 - $606,000||6.2|
|$363,001 - $484,000||11.9|
|$242,001 - $363,000||29.1|
|$121,001 - $242,000||40.0|
|$61,001 - $121,000||2.4|
|$0 - $61,000||2.3|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2019 Q3 - 2019 Q4
Last 12 Months:
2018 Q4 - 2019 Q4
Last 2 Years:
2017 Q4 - 2019 Q4
Last 5 Years:
2014 Q4 - 2019 Q4
Last 10 Years:
2009 Q4 - 2019 Q4
2000 Q1 - 2019 Q4
|* 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|