West Chester, OH 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 2020. 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

West Chester, OH Housing Market Trends

With a population of 53,624, 1,845 total housing units (homes and apartments), and a median house value of $96,990, house prices in West Chester are some of the most affordable in Ohio as well as the nation.

West Chester is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in West Chester than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in West Chester. Owner-occupied housing accounts for 81.92% of West Chester's homes, and 73.17% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in West Chester 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 West Chester built between 2000 and later ( 18.13%). A lesser amount of the housing stock also hails from between 1940-1969 ( 11.01%). There's also some housing in West Chester built before 1939 ( 1.96%).

West Chester Home Appreciation Rates

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 48.90%, which ranks in the top 30% nationwide. This equates to an annual average West Chester house appreciation rate of 4.06%.

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 7.53%, which is higher than appreciation rates in 92.82% 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 3.01%, which equates to an annual appreciation rate of 12.59%.

Importantly, this makes West Chester one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to Ohio, our data show that West Chester's latest annual appreciation rate is higher than 90% of the other cities and towns in Ohio.

One very important thing to keep in mind is that these are average appreciation rates for the town. 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.

Average Home Values

 

Median Home Value:
$96,990

West Chester, OH HOME PRICES

> $1,231,000
0.0%
0.0%
$924,001 - $1,231,000
0.0%
0.0%
$616,001 - $924,000
1.5%
1.5%
$493,001 - $616,000
0.0%
0.0%
$370,001 - $493,000
1.3%
1.3%
$246,001 - $370,000
2.3%
2.3%
$123,001 - $246,000
22.9%
22.9%
$62,001 - $123,000
44.3%
44.3%
$0 - $62,000
27.4%
27.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Very Low for OH

Value Relative To Nation

Number Of Homes And Apartments:
1,845

West Chester Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
81.29% 2.87%
10
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$733 / per month

Homeownership Rate

Owners
81.9%
81.9%
Renters
18.1%
18.1%
Vacant
3.3%
3.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
18.1%
18.1%
1970 - 1999
68.9%
68.9%
1940 - 1969
11.0%
11.0%
1939 or Older
2.0%
2.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
76.3%
76.3%
Townhomes
4.4%
4.4%
Small Apt. Buildings
4.3%
4.3%
Apt. Complexes
14.5%
14.5%
Mobile Homes
0.4%
0.4%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.3%
0.3%
1 Bedroom
3.3%
3.3%
2 Bedrooms
15.3%
15.3%
3 Bedrooms
29.5%
29.5%
4 Bedrooms
43.7%
43.7%
5 or more bedrooms
7.8%
7.8%
0.0% 100.0%
% OF HOMES