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 4,412 people, 1,719 houses or apartments, and a median cost of homes of $901,950, Chelan house prices are not only among the most expensive in Washington, Chelan real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Chelan, accounting for 57.28% of the city's housing units. Other types of housing that are prevalent in Chelan include large apartment complexes or high rise apartments ( 26.57%), duplexes, homes converted to apartments or other small apartment buildings ( 9.70%), and a few row houses and other attached homes ( 3.29%).
The most prevalent building size and type in Chelan are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 52.07% owning and 47.93% renting.
There is a lot of housing in Chelan 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 Chelan built between 2000 and later ( 28.84%). A lesser amount of the housing stock also hails from between 1940-1969 ( 19.77%). There's also some housing in Chelan built before 1939 ( 12.04%).
Vacant housing appears to be an issue in Chelan. Fully 37.08% of the housing stock is classified as vacant. Left unchecked, vacant Chelan homes and apartments can be a drag on the real estate market, holding Chelan 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.
In the last 10 years, Chelan has experienced some of the highest home appreciation rates of any community in the nation. Chelan real estate appreciated 168.49% over the last ten years, which is an average annual home appreciation rate of 10.38%, putting Chelan in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Chelan definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Chelan that despite a nationwide downturn in the housing market, Chelan real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Chelan appreciation rates continue to be some of the highest in America, at 16.36%, which is higher than appreciation rates in 98.96% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Chelan. Chelan appreciation rates in the latest quarter were at 8.04%, which equates to an annual appreciation rate of 36.26%.
Importantly, this makes Chelan one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Washington, our data show that Chelan's latest annual appreciation rate is higher than 90% of the other cities and towns in Washington.
$901,950
for Washington
for nation
1,719
$2,610 / per month