Chatham, IL 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 Q3 2021. 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

Chatham, IL Housing Market Trends

With a population of 14,377, 4,849 total housing units (homes and apartments), and a median house value of $230,014, Chatham real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Chatham, accounting for 80.89% of the village's housing units. Other types of housing that are prevalent in Chatham include row houses and other attached homes ( 6.59%), large apartment complexes or high rise apartments ( 6.18%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.05%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Chatham. Owner-occupied housing accounts for 79.27% of Chatham's homes, and 75.28% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Chatham 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 Chatham built between 2000 and later ( 35.32%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.04%). There's also some housing in Chatham built before 1939 ( 3.26%).

Chatham Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Chatham, where house values have increased just 22.86%, which is annualized rate of 2.08%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Over the last year, Chatham appreciation rates have trailed the rest of the nation. In the last twelve months, Chatham's appreciation rate has been 8.17%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Chatham were at 3.70%, which equates to an annual appreciation rate of 15.65%.

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

Relative to Illinois, our data show that Chatham's latest annual appreciation rate is lower than 80% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$230,014

Chatham, IL HOME PRICES

> $1,123,000
0.0%
0.0%
$842,001 - $1,123,000
0.3%
0.3%
$561,001 - $842,000
1.5%
1.5%
$449,001 - $561,000
1.3%
1.3%
$337,001 - $449,000
9.1%
9.1%
$225,001 - $337,000
32.8%
32.8%
$112,001 - $225,000
47.4%
47.4%
$56,001 - $112,000
6.7%
6.7%
$0 - $56,000
0.9%
0.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

High for IL

Value Relative To Nation

Number Of Homes And Apartments:
4,849

Chatham Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2021 Q2 - 2021 Q3
Last 12 Months:
2020 Q3 - 2021 Q3
Last 2 Years:
2019 Q3 - 2021 Q3
Last 5 Years:
2016 Q3 - 2021 Q3
Last 10 Years:
2011 Q3 - 2021 Q3
Since 2000:
2000 Q1 - 2021 Q3
50.43% 1.90%
6
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,204 / per month

Homeownership Rate

Owners
79.3%
79.3%
Renters
20.7%
20.7%
Vacant
4.3%
4.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
35.3%
35.3%
1970 - 1999
46.4%
46.4%
1940 - 1969
15.0%
15.0%
1939 or Older
3.3%
3.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
80.9%
80.9%
Townhomes
6.6%
6.6%
Small Apt. Buildings
5.1%
5.1%
Apt. Complexes
6.2%
6.2%
Mobile Homes
1.3%
1.3%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.2%
0.2%
1 Bedroom
3.0%
3.0%
2 Bedrooms
16.7%
16.7%
3 Bedrooms
49.3%
49.3%
4 Bedrooms
26.0%
26.0%
5 or more bedrooms
4.7%
4.7%
0.0% 100.0%
% OF HOMES