Chatham, IL 62629 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Chatham, IL—62629

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$290,000

7.2% YoY Growth

Household Income

$106,000

21.2% YoY Growth

Days on Market

50.0% Shorter YoY

Home Price Forecast

1.0%

Median Rent

$1,750

7.0% YoY Growth

1-Bed Rent

$810

N/A

2-Bed Rent

$1,200

10.8% YoY Growth

3-Bed Rent

$1,850

4.1% YoY Growth

Home Price Trends — Chatham, IL

As of Dec '25, the median home price in Chatham, IL is $290,000, with a year-over-year change of 7.2%. This indicates that home prices in Chatham, IL are increasing. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$290,000	7.2%
Single Family	$295,000	7.7%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Chatham, IL

As of July '25, Rentcast reports the average rent in Chatham, IL is $1,730, with a year-over-year rent change of -7.0%. Per bedroom, the median rent as of July '25 in Chatham, IL is 1-bedrooms: $921, 2-bedrooms: $1,230, 3-bedrooms: $2,020, 4-bedrooms: $2,600. The most common rental property sizes in Chatham, IL are 2-bedroom and 1-bedroom, accounting for 44.6% and 25.4% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,750	$1,730
Studio Rent	N/A	N/A
1 Bed Rent	$810	$921
2 Bed Rent	$1,200	$1,230
3 Bed Rent	$1,850	$2,020
4 Bed Rent	$2,500	$2,600

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% of Rental Stock

Studio

2.9%

1 Bedroom

25.4%

2 Bedrooms

44.6%

3 Bedrooms

21.8%

4 Bedrooms

1.4%

5+ Bedrooms

3.9%

Property Listings — Chatham, IL

As of Dec '25, Realtor.com reports that the median days on market for a home in Chatham, IL is 45. This is a decrease of -42.0% 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 11.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$341,000	-16.0%
Listing Count	29	-12.0%
Listings as % of Homes	0.6%	-12.0%
Days on Market	36	-50.0%

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Demographics — Chatham, IL

As of the latest ACS Survey released in 2023, Chatham, IL has a population of 15,400, which has increased by 11.9% over the past 5 years. Chatham, IL is a popular place for families, as children make up 30.0% of the population. The area has a highly educated workforce, with 50.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.9% reporting working from home.

Metric	Latest Census	YoY % Change
Population	15,400	11.9%
% Under 18	30.0%	10.7%
% Seniors	12.0%	4.3%
% WFH	13.9%	135.6%
% w/ College Degree	50.3%	3.1%

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As of the latest ACS Survey released in 2023, Chatham, IL is a predominantly white area, with 89.8% of the population identifying as white. The white population has shrunk by 4.2% in the last 5 years. The second most common race or ethnicity in Chatham, IL is hispanic, making up 3.1% of the population. Foreign-born residents account for 3.2% of the population in Chatham, IL, and this percentage has increased by 23.1% 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	89.8%	-4.2%
% Black	2.2%	100.0%
% Hispanic	3.1%	63.2%
% Asian	2.4%	60.0%
% Foreign Born	3.2%	23.1%

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Mortgage and Risk — Chatham, IL

According to HUD data as of 2023, there were 311 mortgage originations in Chatham, IL, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 23.0% above 90% LTV (very high). This implies large mortgage risk in Chatham, IL. Investor activity is low, as 2.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	311
% Conventional Loans	87.0%
% Government Loans	13.0%
% Investor Loans	2.0%
% Second Loans	0.0%
% Cash Out Refinance	6.0%

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Rentals and Section 8 — Chatham, IL

As of 2024, the percent of homes in Chatham, IL under the Section 8 program is 4.1%. 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 and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Chatham, IL, because HUD payments exceed market rent, while 4-bedroom units do not.

Section 8 Market Size

Total Units under HUD	48
Total Units Section 8	48
% Rentals under Section 8	4.1%
% Occupied Section 8	78.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$310	$810	$1,120
2 Bedroom	$180	$1,200	$1,380
3 Bedroom	$10	$1,850	$1,860
4 Bedroom	-$590	$2,500	$1,910

Chatham, IL—62629

Key Metrics at a Glance

Home Price Trends — Chatham, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Chatham, IL

% of Rental Stock

Property Listings — Chatham, IL

Demographics — Chatham, IL

Race and Ethnicity

Mortgage and Risk — Chatham, IL

Mortgages

Rentals and Section 8 — Chatham, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Chatham, IL

Home Price to Income Ratio

Chatham, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Glenarm, IL

Springfield, IL

Auburn, IL

Leland Grove, IL

Loami, IL

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.3
Median Home Price	$290,000
Median Household Income	$106,000

Chatham, IL—62629

Key Metrics at a Glance

Home Price Trends — Chatham, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Chatham, IL

% of Rental Stock

Property Listings — Chatham, IL

Demographics — Chatham, IL

Race and Ethnicity

Mortgage and Risk — Chatham, IL

Mortgages

Rentals and Section 8 — Chatham, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Chatham, IL

Home Price to Income Ratio

Chatham, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Glenarm, IL

Springfield, IL

Auburn, IL

Leland Grove, IL

Loami, IL

Frequently Asked Questions

What is the average home price in Chatham, IL 62629?

How have home prices in Chatham, IL 62629 changed over the past year?

What is the home price projection for Chatham, IL 62629?

What are the demographics of Chatham, IL 62629?

How long does it take homes to sell in Chatham, IL 62629?

What is the average rent price in Chatham, IL 62629?