Chatham, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Chatham, NJ Real Estate Data


Chatham Housing Market Information

With a population of 8,993, 2,885 total housing units (homes and apartments), and a median house value of $930,742, Chatham house prices are not only among the most expensive in New Jersey, Chatham 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 Chatham, accounting for 79.55% of the borough's housing units. Other types of housing that are prevalent in Chatham include duplexes, homes converted to apartments or other small apartment buildings ( 10.70%), large apartment complexes or high rise apartments ( 8.37%), and a few row houses and other attached homes ( 1.38%).

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 78.41% of Chatham's homes, and 70.40% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Chatham's housing was primarily built during this period, from the '40s through the '60s. A full 47.29% of the borough's housing hails from this era. Other housing ages represented in Chatham include homes built before 1939 ( 41.35%) and housing constructed between 1970-1999 ( 10.34%). There's also some housing in Chatham built between 2000 and later ( 1.02%).

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 12.12%, which ranks in the top 30% nationwide. This equates to an annual average Chatham house appreciation rate of 1.15%.

NeighborhoodScout's data show that during the latest twelve months, Chatham's appreciation rate, at 3.74%, has been at or slightly above the national average. In the latest quarter, Chatham's appreciation rate has been 0.82%, which annualizes to a rate of 3.34%.

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

Average Home Values

 

Median Home Value:
$930,742

Chatham, NJ HOME PRICES

Value Range
> $1,124,000 11.8
$843,001 - $1,124,000 22.8
$562,001 - $843,000 43.1
$449,001 - $562,000 8.1
$337,001 - $449,000 5.5
$225,001 - $337,000 1.2
$112,001 - $225,000 0.0
$56,001 - $112,000 0.0
$0 - $56,000 1.2

Very High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
1.21879760928161 3.04878048780488

Number Of Homes And Apartments:
2,885

Rent & Ownership

 

Average Market Rent:
$2,276 / per month

Homeownership Rate

Homeownership
Owners 78.41
Renters 21.59
Vacant 5.32

Housing Market Details

 

Age of Homes

AGE OF Chatham HOMES
2000 or Newer 1.0
1970 - 1999 10.3
1940 - 1969 47.3
1939 or Older 41.4

Types of Homes

TYPE OF Chatham HOMES
Single-Family 79.6
Townhomes 1.4
Small Apt. Buildings 10.7
Apt. Complexes 8.4
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Chatham HOMES
No Bedroom 0.26
1 Bedroom 9.58
2 Bedrooms 13.69
3 Bedrooms 38.17
4 Bedrooms 32.23
5 or more bedrooms 6.07

Chatham Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
86.83% 3.69% 9 9
* 10 is highest