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 a population of 17,588, 6,811 total housing units (homes and apartments), and a median house value of $471,536, Colchester real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Colchester, accounting for 55.02% of the town's housing units. Other types of housing that are prevalent in Colchester include duplexes, homes converted to apartments or other small apartment buildings ( 15.63%), large apartment complexes or high rise apartments ( 13.56%), and a few row houses and other attached homes ( 8.15%).
Dwellings in Colchester tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 51.06% of the homes in Colchester have two or fewer bedrooms.
There is a lot of housing in Colchester 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 Colchester built between 2000 and later ( 23.89%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.39%). There's also some housing in Colchester built before 1939 ( 12.02%).
Vacant housing appears to be an issue in Colchester. Fully 11.00% of the housing stock is classified as vacant. Left unchecked, vacant Colchester homes and apartments can be a drag on the real estate market, holding Colchester 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.
Real estate appreciation rates in Colchester's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.11% during the period.
Over the last year, Colchester appreciation rates have trailed the rest of the nation. In the last twelve months, Colchester's appreciation rate has been 6.26%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Colchester were at -0.66%, which equates to an annual appreciation rate of -2.60%.
Notably, Colchester's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Vermont, our data show that Colchester's latest annual appreciation rate is lower than 90% of the other cities and towns in Vermont.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Colchester differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Colchester - 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 Colchester real estate investment or home purchase decisions.
$471,536
for Vermont
for nation
6,811
$1,855 / per month