Chatham, Chicago, IL—60619
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Chatham, Chicago, IL
As of Oct '25, the median home price in Chatham, Chicago, IL is $161,000, with a year-over-year change of -0.9%. This indicates that home prices in Chatham, Chicago, IL are flat. According to Zillow, the 1-year price projection is 0.7%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $161,000 | -0.9% |
| Single Family | $166,000 | -0.6% |
| Condos | $93,000 | -1.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $117,000 | 0.0% |
3 Bed | $165,000 | -1.2% |
4 Bed | $213,000 | 1.4% |
| 5 Bed | $248,000 | 2.1% |
% of Housing Stock
Rental Trends — Chatham, Chicago, IL
As of July '25, Rentcast reports the average rent in Chatham, Chicago, IL is $1,520, with a year-over-year rent change of 15.2%. Per bedroom, the median rent as of July '25 in Chatham, Chicago, IL is studios: $1,310, 1-bedrooms: $1,100, 2-bedrooms: $1,440, 3-bedrooms: $1,740, 4-bedrooms: $2,080. The most common rental property sizes in Chatham, Chicago, IL are 2-bedroom and 1-bedroom, accounting for 40.4% and 30.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,520 |
| Studio Rent | $850 | $1,310 |
| 1 Bed Rent | $1,020 | $1,100 |
| 2 Bed Rent | $1,400 | $1,440 |
| 3 Bed Rent | $1,700 | $1,740 |
| 4 Bed Rent | $1,900 | $2,080 |
% of Rental Stock
Property Listings — Chatham, Chicago, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Chatham, Chicago, IL is 39. This is a increase of 8.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $232,000 | -4.0% |
Listing Count | 207 | -3.0% |
| Listings as % of Homes | 0.8% | -3.0% |
Days on Market | 39 | 8.0% |
Demographics — Chatham, Chicago, IL
As of the latest ACS Survey released in 2023, Chatham, Chicago, IL has a population of 59,900, which has decreased by -2.2% over the past 5 years. Chatham, Chicago, IL is a moderately popular place for families, as children make up 20.5% of the population. The area has a moderately educated workforce, with 27.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 59,900 | -2.2% |
% Under 18 | 20.5% | -3.3% |
% Seniors | 19.3% | 13.5% |
% WFH | 12.8% | 137.0% |
% w/ College Degree | 27.5% | 20.6% |
As of the latest ACS Survey released in 2023, Chatham, Chicago, IL is a predominantly black area, with 92.3% of the population identifying as black. The black population has shrunk by 4.0% in the last 5 years. The second most common race or ethnicity in Chatham, Chicago, IL is hispanic, making up 2.9% of the population. Foreign-born residents account for 3.7% of the population in Chatham, Chicago, IL, and this percentage has increased by 94.7% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 1.6% | 14.3% |
% Black | 92.3% | -4.0% |
% Hispanic | 2.9% | 107.1% |
% Asian | 0.5% | 66.7% |
% Foreign Born | 3.7% | 94.7% |
Mortgage and Risk — Chatham, Chicago, IL
According to HUD data as of 2023, there were 568 mortgage originations in Chatham, Chicago, IL, of which 50.0% of loans were conventional mortgages. The average loan-to-value was 78.0%, with 56.0% above 90% LTV (very high). This implies large mortgage risk in Chatham, Chicago, IL. Investor activity is low, as 6.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 568 |
% Conventional Loans | 50.0% |
% Government Loans | 50.0% |
% Investor Loans | 6.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Chatham, Chicago, IL
As of 2024, the percent of homes in Chatham, Chicago, IL under the Section 8 program is 24.0%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Chatham, Chicago, IL, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 4,018 |
Total Units Section 8 | 3,815 |
% Rentals under Section 8 | 24.0% |
% Occupied Section 8 | 86.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $250 | $1,020 | $1,270 |
| 2 Bedroom | $30 | $1,400 | $1,430 |
| 3 Bedroom | $140 | $1,700 | $1,840 |
| 4 Bedroom | $260 | $1,900 | $2,160 |
Affordability — Chatham, Chicago, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $161,000 |
| Median Household Income | $43,400 |