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 39,482 people, 15,041 houses or apartments, and a median cost of homes of $407,114, Mechanicsville real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Mechanicsville, accounting for 80.08% of the town's housing units. Other types of housing that are prevalent in Mechanicsville include large apartment complexes or high rise apartments ( 11.91%), row houses and other attached homes ( 6.46%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.45%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Mechanicsville. Owner-occupied housing accounts for 77.25% of Mechanicsville's homes, and 74.00% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Mechanicsville 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 Mechanicsville built between 2000 and later ( 27.35%). A lesser amount of the housing stock also hails from between 1940-1969 ( 17.07%). There's also some housing in Mechanicsville built before 1939 ( 1.31%).
Real estate appreciation rates in Mechanicsville's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.92% during the period.
NeighborhoodScout's data show that during the latest twelve months, Mechanicsville's appreciation rate, at 6.37%, has been at or slightly above the national average. In the latest quarter, Mechanicsville's appreciation rate has been 2.48%, which annualizes to a rate of 10.31%.
Relative to Virginia, our data show that Mechanicsville's latest annual appreciation rate is lower than 50% 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 town. Individual neighborhoods within Mechanicsville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Mechanicsville - 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 Mechanicsville real estate investment or home purchase decisions.
$407,114
for Virginia
for nation
15,041
$3,088 / per month