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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Winchester, VA Real Estate Market

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 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Winchester, VA Housing Market Trends

With 27,936 people, 11,018 houses or apartments, and a median cost of homes of $416,182, 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 59.34% of the city's housing units. Other types of housing that are prevalent in Winchester include large apartment complexes or high rise apartments ( 22.06%), row houses and other attached homes ( 9.56%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.66%).

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 43.62% owning and 56.38% 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 ( 33.36%). A lesser amount of the housing stock also hails from before 1939 ( 19.55%). There's also some housing in Winchester built between 2000 and later ( 12.59%).

Vacant housing appears to be an issue in Winchester. Fully 10.19% 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

Real estate appreciation rates in Winchester's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.97% during the period.

NeighborhoodScout's data show that during the latest twelve months, Winchester's appreciation rate, at 4.80%, has been at or slightly above the national average. In the latest quarter, Winchester's appreciation rate has been 5.15%, which annualizes to a rate of 22.26%.

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 lower than 70% 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

$416,182

Winchester, VA Home Prices
> $1,426,000
$1,069,001 - $1,426,000
$713,001 - $1,069,000
$570,001 - $713,000
$428,001 - $570,000
$285,001 - $428,000
$143,001 - $285,000
$71,001 - $143,000
$0 - $71,000
0.0%
0.0%
0.8%
0.8%
8.1%
8.1%
8.7%
8.7%
18.4%
18.4%
27.6%
27.6%
34.9%
34.9%
1.3%
1.3%
0.3%
0.3%
0% 100.0%
% of Homes
High

for Virginia

High

for nation

Number of Homes And Apartments:

11,018

Winchester Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,904 / per month

Homeownership Rate

Owners
Renters
Vacant
43.6%
43.6%
56.4%
56.4%
10.2%
10.2%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
12.6%
12.6%
34.5%
34.5%
33.4%
33.4%
19.5%
19.5%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
59.3%
59.3%
9.6%
9.6%
8.7%
8.7%
22.1%
22.1%
0.4%
0.4%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.7%
2.7%
12.7%
12.7%
30.6%
30.6%
35.2%
35.2%
14.3%
14.3%
4.5%
4.5%
0% 100.0%
% of Homes