Chatham, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Chatham Neighborhoods Since 2000




Chatham, NY 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 a population of 1,696, 633 total housing units (homes and apartments), and a median house value of $219,036, 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 42.69% of the village's housing units. Other types of housing that are prevalent in Chatham include duplexes, homes converted to apartments or other small apartment buildings ( 32.85%), large apartment complexes or high rise apartments ( 18.94%), and a few row houses and other attached homes ( 5.04%).

People in Chatham primarily live in small (one, two or no bedroom) single-family detached homes. Chatham has a mixture of owner-occupied and renter-occupied housing.

The housing in Chatham was primarily built before 1939 ( 73.74%), making the housing stock in Chatham some of the oldest overall in America, although there is a range of ages of homes in Chatham. The next most important housing age is between 1940-1969 ( 16.31%), followed by between 1970-1999 ( 8.27%). There's also some housing in Chatham built between 2000 and later ( 1.68%).

Vacant housing appears to be an issue in Chatham. Fully 24.10% of the housing stock is classified as vacant. Left unchecked, vacant Chatham homes and apartments can be a drag on the real estate market, holding Chatham 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.

Chatham Home Appreciation Rates

Real estate appreciation rates in Chatham's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.09% during the period.

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 2.54%, 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 -0.56%, which equates to an annual appreciation rate of -2.23%.

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

Relative to New York, our data show that Chatham's latest annual appreciation rate is higher than 50% of the other cities and towns in New York.

Average Home Values

 

Median Home Value:
$219,036

Chatham, NY HOME PRICES

Value Range
> $1,052,000 5.1
$789,001 - $1,052,000 4.2
$526,001 - $789,000 5.6
$421,001 - $526,000 5.7
$316,001 - $421,000 15.4
$211,001 - $316,000 26.8
$105,001 - $211,000 24.1
$52,001 - $105,000 4.8
$0 - $52,000 8.3

Average for NY
High for Nation

Value Relative to Nation Value Relative to State
27.8799953123169 41.1896745230079

Number Of Homes And Apartments:
633

Chatham Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
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
64.43% 2.93% 7 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,055 / per month

Homeownership Rate

Homeownership
Owners 46.10
Renters 53.90
Vacant 24.10

Housing Market Details

 

Age of Homes

AGE OF Chatham HOMES
2000 or Newer 1.7
1970 - 1999 8.3
1940 - 1969 16.3
1939 or Older 73.7

Types of Homes

TYPE OF Chatham HOMES
Single-Family 42.7
Townhomes 5.0
Small Apt. Buildings 32.9
Apt. Complexes 18.9
Mobile Homes 0.5
Other 0.0

Home Size

SIZE OF Chatham HOMES
No Bedroom 9.59
1 Bedroom 10.55
2 Bedrooms 36.21
3 Bedrooms 32.37
4 Bedrooms 8.51
5 or more bedrooms 2.76