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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (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 a population of 28,078, 10,490 total housing units (homes and apartments), and a median house value of $329,762, 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 56.60% of the city's housing units. Other types of housing that are prevalent in Winchester include large apartment complexes or high rise apartments ( 18.63%), row houses and other attached homes ( 14.16%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 10.11%).

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 42.61% owning and 57.39% 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 ( 28.65%). A lesser amount of the housing stock also hails from before 1939 ( 23.84%). There's also some housing in Winchester built between 2000 and later ( 12.74%).

Vacant housing appears to be an issue in Winchester. Fully 11.99% 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

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 45.13%, which ranks in the top 50% nationwide. This equates to an annual average Winchester house appreciation rate of 3.79%.

Over the last year, Winchester appreciation rates have trailed the rest of the nation. In the last twelve months, Winchester's appreciation rate has been 5.92%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Winchester were at 2.95%, which equates to an annual appreciation rate of 12.33%.

Relative to Virginia, our data show that Winchester's latest annual appreciation rate is lower than 90% 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:
$329,762

Winchester, VA HOME PRICES

> $1,190,000
0.0%
0.0%
$893,001 - $1,190,000
1.7%
1.7%
$595,001 - $893,000
6.4%
6.4%
$476,001 - $595,000
5.6%
5.6%
$357,001 - $476,000
15.5%
15.5%
$238,001 - $357,000
29.1%
29.1%
$119,001 - $238,000
38.3%
38.3%
$59,001 - $119,000
2.4%
2.4%
$0 - $59,000
1.0%
1.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

High for VA

Value Relative To Nation

Number Of Homes And Apartments:
10,490

Winchester Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
95.56% 3.17%
7
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,412 / per month

Homeownership Rate

Owners
42.6%
42.6%
Renters
57.4%
57.4%
Vacant
12.0%
12.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
12.7%
12.7%
1970 - 1999
34.8%
34.8%
1940 - 1969
28.7%
28.7%
1939 or Older
23.8%
23.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
56.6%
56.6%
Townhomes
14.2%
14.2%
Small Apt. Buildings
10.1%
10.1%
Apt. Complexes
18.6%
18.6%
Mobile Homes
0.5%
0.5%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.5%
3.5%
1 Bedroom
11.9%
11.9%
2 Bedrooms
29.9%
29.9%
3 Bedrooms
35.6%
35.6%
4 Bedrooms
14.8%
14.8%
5 or more bedrooms
4.3%
4.3%
0.0% 100.0%
% OF HOMES