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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (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 27,936, 11,217 total housing units (homes and apartments), and a median house value of $454,723, 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%).

Winchester Home Appreciation Rates

Real estate appreciation rates in Winchester's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.95% during the period.

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 4.41%, 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 -0.77%, which equates to an annual appreciation rate of -3.05%.

Notably, Winchester's appreciation rate in the latest quarter is one of the lowest in America.

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

$454,723

Winchester, VA Home Prices
> $1,323,000
$992,001 - $1,323,000
$661,001 - $992,000
$529,001 - $661,000
$397,001 - $529,000
$265,001 - $397,000
$132,001 - $265,000
$66,001 - $132,000
$0 - $66,000
0.6%
0.6%
2.0%
2.0%
11.5%
11.5%
12.2%
12.2%
17.7%
17.7%
29.2%
29.2%
25.7%
25.7%
0.8%
0.8%
0.4%
0.4%
0% 100.0%
% of Homes
High

for Virginia

Very High

for nation

Number of Homes And Apartments:

11,217

Winchester Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,815 / per month

Homeownership Rate

Owners
Renters
42.2%
42.2%
57.8%
57.8%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
9.2%
9.2%
90.8%
90.8%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
12.5%
12.5%
34.9%
34.9%
33.4%
33.4%
19.2%
19.2%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
58.4%
58.4%
9.3%
9.3%
10.0%
10.0%
22.3%
22.3%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.6%
2.6%
13.9%
13.9%
29.8%
29.8%
36.2%
36.2%
12.9%
12.9%
4.6%
4.6%
0% 100.0%
% of Homes