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 19,531 people, 6,996 houses or apartments, and a median cost of homes of $725,622, West Chester house prices are not only among the most expensive in Pennsylvania, West Chester real estate also is some of the most expensive in all of America.
Large apartment complexes or high rise apartments are the single most common housing type in West Chester, accounting for 35.97% of the borough's housing units. Other types of housing that are prevalent in West Chester include row houses and other attached homes ( 32.20%), single-family detached homes ( 16.00%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 15.67%). Boroughs that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of boroughs are often walkable and compact, and often have a lively downtown.
West Chester is dominated by renter-occupied one, two, or no bedrooms apartments. 74.60% of West Chester's dwellings are rentals.
The housing in West Chester was primarily built before 1939 ( 41.37%), making the housing stock in West Chester some of the oldest overall in America, although there is a range of ages of homes in West Chester. The next most important housing age is between 1970-1999 ( 24.16%), followed by between 1940-1969 ( 20.52%). There's also some housing in West Chester built between 2000 and later ( 13.95%).
Appreciation rates for homes in West Chester have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 91.24%, which ranks in the top 50% nationwide. This equates to an annual average West Chester house appreciation rate of 6.70%.
Appreciation rates are so strong in West Chester that despite a nationwide downturn in the housing market, West Chester real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, West Chester appreciation rates continue to be some of the highest in America, at 8.04%, which is higher than appreciation rates in 70.58% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in West Chester. West Chester appreciation rates in the latest quarter were at 1.44%, which equates to an annual appreciation rate of 5.90%.
Relative to Pennsylvania, our data show that West Chester's latest annual appreciation rate is higher than 70% of the other cities and towns in Pennsylvania.
One very important thing to keep in mind is that these are average appreciation rates for the borough. Individual neighborhoods within West Chester differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in West Chester - 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 West Chester real estate investment or home purchase decisions.
$725,622
for Pennsylvania
for nation
6,996
$2,465 / per month