Housing Report for Winchester

Winchester recorded a median home value in 2005 of $207,100, published by the American Community Survey. This median is less than the State of Virginia 2005 median home value of $212,300 and greater than median owner-occupied dwelling value of $167,500 across the nation during that year.

In the State of Virginia, Winchester places 2 of the 9 metro areas by percent in growth of new residential structures. The metropolitan area places 66 of 361, comparing the percentage change in residential real estate in other US MSAs.

In Winchester, the census reported 50,459 homes in 2005. The metro area has experienced a medium-high growth level in the number housing units, adding a total of 4,460 housing units since the year 2001, or 9.7 percent.

Winchester has a relatively high proportion of residential real estate that is high priced. During the year 2005, the American Community Survey reported that 5.4 percent of the areas residential property was valued over $500k.

It can be understood that there is a fair amount of housing that is affordable in Winchester, Virginia. In 2005, 26.3 percent of owner-occupied dwellings were valued under $125k.



Data Source: U.S. Census Bureau

Employment Report for Winchester, VA, Virginia -- Annual 2005 Industry Summary

In Winchester, VA, Manufacturing, Retail Trade, and the Health care and social assistance industries are the largest employment industries. The Manufacturing produces the largest number of jobs in the area accounting for 20.5 percent of the total MSA employment. This totals 9,621 people employed. The Retail Trade and Health care and social assistance sectors provide 16.9 and 14.3 percent of all employment.

Manufacturing has a largest number of employees per establishment in Winchester, VA Metropolitan Area (MSA), averaging 66 jobs per establishment, which is greater than the US industry average of 39 and greater than the State of Virginia establishments size average of 48 for the Manufacturing industry.

A high-wage industry in Winchester, VA is the finance and insurance industry with an average annual wage of $44,285. Throughout the MSA since the year 2001, the industry annual average pay has grown by 19.4 percent or $7,184. The State of Virginia holds a similar economic condition in the finance and insurance industry, falling near the top of industries in term of the average annual pay of 2004.

Educational services has grown in employment, since the year 2001, more than any other industry in Winchester, VA, with an employment growth of 76.6 percent. This is greater than the rate of industry employment change in the United States of 13.8 percent. The State of Virginia went through a industry job change of 21 percent, in the recent period of 2001-2005.

In Winchester, VA, Manufacturing, Educational services and Retail Trade have the highest US LQ in 2005. The Manufacturing sector in the county has a location quotient of 1.6. The percent of employment in the Manufacturing sector is 1.6 times the percent of the national average, This signifies that Winchester, VA may be an exporter of products or services of Manufacturing.

Manufacturing between the years 2001 and 2005, saw the greatest loss in employment in the Winchester, VA MSA. The sector faced a loss of 1,549 employees during the period, or 13.9 percent of jobs in the industry. The losses in this industry made up 99.7 percent of the total loss in employment during the period.





Datasource: U.S. Department of Labor. Bureau of Labor Statistics. Quarterly Census of Employment and Wages (QCEW).