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 about Scout's Real Estate Data
With 27,936 people, 11,217 houses or apartments, and a median cost of homes of $493,162, 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 58.36% of the city's housing units. Other types of housing that are prevalent in Winchester include large apartment complexes or high rise apartments ( 22.32%), duplexes, homes converted to apartments or other small apartment buildings ( 10.04%), and a few row houses and other attached homes ( 9.29%).
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 42.20% owning and 57.80% 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 ( 33.35%). A lesser amount of the housing stock also hails from before 1939 ( 19.23%). There's also some housing in Winchester built between 2000 and later ( 12.55%).
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 91.84%, which ranks in the top 50% nationwide. This equates to an annual average Winchester house appreciation rate of 6.73%.
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 12.27%, which is higher than appreciation rates in 74.15% 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 3.10%, which equates to an annual appreciation rate of 12.99%.
Relative to Virginia, our data show that Winchester's latest annual appreciation rate is higher 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.
$493,162
for Virginia
for nation
11,217
$1,792 / per month