Chatham, NJ—07928
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Chatham, NJ
As of Oct '25, the median home price in Chatham, NJ is $1,259,000, with a year-over-year change of 5.5%. This indicates that home prices in Chatham, NJ are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,259,000 | 5.5% |
| Single Family | $1,299,000 | 5.7% |
| Condos | $479,000 | 1.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $412,000 | 1.5% |
2 Bed | $580,000 | 1.9% |
3 Bed | $1,070,000 | 7.2% |
4 Bed | $1,485,000 | 7.3% |
| 5 Bed | $2,208,000 | 6.3% |
% of Housing Stock
Rental Trends — Chatham, NJ
As of July '25, Rentcast reports the average rent in Chatham, NJ is $4,170, with a year-over-year rent change of 17.1%. Per bedroom, the median rent as of July '25 in Chatham, NJ is studios: $1,650, 1-bedrooms: $2,380, 2-bedrooms: $2,830, 3-bedrooms: $4,770, 4-bedrooms: $6,760. The most common rental property sizes in Chatham, NJ are 1-bedroom and 2-bedroom, accounting for 45.9% and 27.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,150 | $4,170 |
| Studio Rent | $1,650 | $1,650 |
| 1 Bed Rent | $2,400 | $2,380 |
| 2 Bed Rent | $2,720 | $2,830 |
| 3 Bed Rent | $5,150 | $4,770 |
| 4 Bed Rent | $7,000 | $6,760 |
% of Rental Stock
Property Listings — Chatham, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Chatham, NJ is 26. This is a decrease of -15.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 8.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,800,000 | 54.0% |
Listing Count | 51 | -6.0% |
| Listings as % of Homes | 0.7% | -6.0% |
Days on Market | 26 | -15.0% |
Demographics — Chatham, NJ
As of the latest ACS Survey released in 2023, Chatham, NJ has a population of 19,700, which has increased by 3.8% over the past 5 years. Chatham, NJ is a popular place for families, as children make up 30.5% of the population. The area has a highly educated workforce, with 83.3% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 29.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 19,700 | 3.8% |
% Under 18 | 30.5% | 1.3% |
% Seniors | 14.2% | 7.6% |
% WFH | 29.5% | 383.6% |
% w/ College Degree | 83.3% | 8.2% |
As of the latest ACS Survey released in 2023, Chatham, NJ is a predominantly white area, with 77.8% of the population identifying as white. The white population has shrunk by 3.5% in the last 5 years. The second most common race or ethnicity in Chatham, NJ is asian, making up 11.9% of the population. Foreign-born residents account for 13.7% of the population in Chatham, NJ, and this percentage has decreased by 2.1% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 77.8% | -3.5% |
% Black | 0.5% | -72.2% |
% Hispanic | 5.5% | 1.9% |
% Asian | 11.9% | 12.3% |
% Foreign Born | 13.7% | -2.1% |
Mortgage and Risk — Chatham, NJ
According to HUD data as of 2023, there were 364 mortgage originations in Chatham, NJ, of which 98.0% of loans were conventional mortgages. The average loan-to-value was 52.0%, with 3.0% above 90% LTV (normal). This implies small mortgage risk in Chatham, NJ. Investor activity is low, as 1.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 364 |
% Conventional Loans | 98.0% |
% Government Loans | 2.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Chatham, NJ
As of 2024, the percent of homes in Chatham, NJ under the Section 8 program is 0.5%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Chatham, NJ, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 10 |
Total Units Section 8 | 10 |
% Rentals under Section 8 | 0.5% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $150 | $2,400 | $2,550 |
| 2 Bedroom | $370 | $2,720 | $3,090 |
| 3 Bedroom | -$1,260 | $5,150 | $3,890 |
| 4 Bedroom | -$2,570 | $7,000 | $4,430 |
Affordability — Chatham, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.4 |
| Median Home Price | $1,259,000 |
| Median Household Income | $236,000 |