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 a population of 1,210, 577 total housing units (homes and apartments), and a median house value of $202,180, house prices in Chatham are solidly below the national average.
Single-family detached homes are the single most common housing type in Chatham, accounting for 84.41% of the town's housing units. Other types of housing that are prevalent in Chatham include large apartment complexes or high rise apartments ( 8.35%), duplexes, homes converted to apartments or other small apartment buildings ( 4.72%), and a few row houses and other attached homes ( 1.89%).
The most prevalent building size and type in Chatham are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 53.79% owning and 46.21% renting.
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 42.83% of the town's housing hails from this era. Other housing ages represented in Chatham include homes built before 1939 ( 29.92%) and housing constructed between 1970-1999 ( 19.06%). There's also some housing in Chatham built between 2000 and later ( 8.19%).
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 51.12%, which is annualized rate of 4.22%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
NeighborhoodScout's data show that during the latest twelve months, Chatham's appreciation rate, at 7.58%, has been at or slightly above the national average. In the latest quarter, Chatham's appreciation rate has been 2.32%, which annualizes to a rate of 9.62%.
Relative to Virginia, our data show that Chatham's latest annual appreciation rate is higher than 80% of the other cities and towns in Virginia.
$202,180
for Virginia
for nation
577
$1,512 / per month