Cheney, WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Cheney Neighborhoods Since 2000




Cheney, WA 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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Cheney Housing Market Information

With 11,534 people, 3,827 houses or apartments, and a median cost of homes of $192,766, Cheney real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Cheney, accounting for 40.92% of the city's housing units. Other types of housing that are prevalent in Cheney include large apartment complexes or high rise apartments ( 37.85%), duplexes, homes converted to apartments or other small apartment buildings ( 14.89%), and a few row houses and other attached homes ( 4.05%).

Cheney is dominated by renter-occupied one, two, or no bedrooms apartments. 74.01% of Cheney's dwellings are rentals.

There is a lot of housing in Cheney 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 Cheney built between 2000 and later ( 28.56%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.13%). There's also some housing in Cheney built before 1939 ( 7.84%).

Cheney Home Appreciation Rates

Real estate appreciation rates in Cheney's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.22% during the period.

Appreciation rates are so strong in Cheney that despite a nationwide downturn in the housing market, Cheney real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Cheney appreciation rates continue to be some of the highest in America, at 8.33%, which is higher than appreciation rates in 88.23% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Cheney. Cheney appreciation rates in the latest quarter were at 0.21%, which equates to an annual appreciation rate of 0.83%.

Relative to Washington, our data show that Cheney's latest annual appreciation rate is lower than 60% of the other cities and towns in Washington.

Average Home Values

 

Median Home Value:
$192,766

Cheney, WA HOME PRICES

Value Range
> $1,162,000 0.0
$872,001 - $1,162,000 0.0
$581,001 - $872,000 0.2
$465,001 - $581,000 1.3
$348,001 - $465,000 3.2
$232,001 - $348,000 28.2
$116,001 - $232,000 61.8
$58,001 - $116,000 2.9
$0 - $58,000 2.4

Low for WA
High for Nation

Value Relative to Nation Value Relative to State
34.0618774170866 75.177304964539

Number Of Homes And Apartments:
3,827

Cheney Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
55.75% 2.60% 2 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$869 / per month

Homeownership Rate

Homeownership
Owners 25.99
Renters 74.01
Vacant 8.84

Housing Market Details

 

Age of Homes

AGE OF Cheney HOMES
2000 or Newer 28.6
1970 - 1999 48.5
1940 - 1969 15.1
1939 or Older 7.8

Types of Homes

TYPE OF Cheney HOMES
Single-Family 40.9
Townhomes 4.0
Small Apt. Buildings 14.9
Apt. Complexes 37.9
Mobile Homes 2.3
Other 0.0

Home Size

SIZE OF Cheney HOMES
No Bedroom 2.24
1 Bedroom 18.91
2 Bedrooms 33.42
3 Bedrooms 23.06
4 Bedrooms 15.63
5 or more bedrooms 6.74