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 1,584 people, 807 houses or apartments, and a median cost of homes of $449,536, 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 51.33% 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 ( 36.98%), large apartment complexes or high rise apartments ( 10.10%), and a few row houses and other attached homes ( 1.59%).
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 ( 72.69%), 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 ( 17.75%), followed by between 1970-1999 ( 9.14%).
Vacant housing appears to be an issue in Chatham. Fully 14.24% 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.
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 6.18% 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 5.02%, 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 -2.87%, which equates to an annual appreciation rate of -11.00%.
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 lower than 70% of the other cities and towns in New York.
$449,536
for New york
for nation
807
$1,589 / per month