Chatham, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Chatham, IL Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Chatham Housing Market Information

With 12,351 people, 4,546 houses or apartments, and a median cost of homes of $197,198, Chatham real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Chatham, accounting for 78.16% of the village's housing units. Other types of housing that are prevalent in Chatham include large apartment complexes or high rise apartments ( 8.68%), row houses and other attached homes ( 5.81%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.50%).

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 81.56% of Chatham's homes, and 70.25% 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 ( 34.05%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.70%). There's also some housing in Chatham built before 1939 ( 1.70%).

Chatham Home Appreciation Rates

Appreciation rates for homes in Chatham have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 14.55%, which ranks in the top 30% nationwide. This equates to an annual average Chatham house appreciation rate of 1.37%.

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 2.20%, 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 -0.16%, which equates to an annual appreciation rate of -0.66%.

Relative to Illinois, our data show that Chatham's latest annual appreciation rate is lower than 60% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$197,198

Chatham, IL HOME PRICES

Value Range
> $1,070,000 0.0
$802,001 - $1,070,000 0.1
$535,001 - $802,000 1.0
$428,001 - $535,000 2.1
$321,001 - $428,000 8.8
$214,001 - $321,000 28.9
$107,001 - $214,000 49.3
$53,001 - $107,000 6.7
$0 - $53,000 3.1

High for IL
High for Nation

Value Relative to Nation Value Relative to State
32.9426930739482 25.9493670886076

Number Of Homes And Apartments:
4,546

Chatham Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
35.09% 1.76% 8 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,238 / per month

Homeownership Rate

Homeownership
Owners 81.56
Renters 18.44
Vacant 4.64

Housing Market Details

 

Age of Homes

AGE OF Chatham HOMES
2000 or Newer 34.0
1970 - 1999 50.6
1940 - 1969 13.7
1939 or Older 1.7

Types of Homes

TYPE OF Chatham HOMES
Single-Family 78.2
Townhomes 5.8
Small Apt. Buildings 5.5
Apt. Complexes 8.7
Mobile Homes 1.8
Other 0.0

Home Size

SIZE OF Chatham HOMES
No Bedroom 0.00
1 Bedroom 2.24
2 Bedrooms 19.76
3 Bedrooms 46.70
4 Bedrooms 23.56
5 or more bedrooms 7.74