Chatham, VA—24531
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Chatham, VA
As of Oct '25, the median home price in Chatham, VA is $165,000, with a year-over-year change of -1.5%. This indicates that home prices in Chatham, VA are decreasing. According to Zillow, the 1-year price projection is 2.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $165,000 | -1.5% |
| Single Family | $165,000 | -1.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $133,000 | -1.5% |
3 Bed | $203,000 | 1.5% |
4 Bed | $246,000 | 2.9% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Chatham, VA
As of July '25, Rentcast reports the average rent in Chatham, VA is $1,120, with a year-over-year rent change of -2.6%. Per bedroom, the median rent as of July '25 in Chatham, VA is 1-bedrooms: $1,080, 2-bedrooms: $1,160. The most common rental property sizes in Chatham, VA are 2-bedroom and 3-bedroom, accounting for 42.2% and 31.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,100 | $1,120 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,100 | $1,080 |
| 2 Bed Rent | $1,220 | $1,160 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Chatham, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Chatham, VA is 77. This is a increase of 23.0% 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 17.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $192,000 | 84.0% |
Listing Count | 23 | 29.0% |
| Listings as % of Homes | 0.4% | 29.0% |
Days on Market | 77 | 23.0% |
Demographics — Chatham, VA
As of the latest ACS Survey released in 2023, Chatham, VA has a population of 9,110, which has increased by 9.1% over the past 5 years. Chatham, VA is a moderately popular place for families, as children make up 16.4% of the population. The area has a poorly educated workforce, with 16.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 1.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 9,110 | 9.1% |
% Under 18 | 16.4% | 10.1% |
% Seniors | 23.1% | 9.0% |
% WFH | 1.3% | -55.2% |
% w/ College Degree | 16.2% | 14.9% |
As of the latest ACS Survey released in 2023, Chatham, VA is a predominantly white area, with 72.4% of the population identifying as white. The white population has grown by 6.3% in the last 5 years. The second most common race or ethnicity in Chatham, VA is black, making up 22.0% of the population. Foreign-born residents account for 1.6% of the population in Chatham, VA, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 72.4% | 6.3% |
% Black | 22.0% | -20.9% |
% Hispanic | 3.0% | 50.0% |
% Asian | 0.1% | -80.0% |
% Foreign Born | 1.6% | 0.0% |
Mortgage and Risk — Chatham, VA
According to HUD data as of 2023, there were 97 mortgage originations in Chatham, VA, of which 63.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 41.0% above 90% LTV (very high). This implies large mortgage risk in Chatham, VA. Investor activity is low, as 4.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 97 |
% Conventional Loans | 63.0% |
% Government Loans | 37.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Chatham, VA
Chatham, VA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 26 |
Total Units Section 8 | 25 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 84.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$380 | $1,100 | $720 |
| 2 Bedroom | -$330 | $1,220 | $890 |
| 3 Bedroom | N/A | N/A | $1,220 |
| 4 Bedroom | N/A | N/A | $1,370 |
Affordability — Chatham, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $165,000 |
| Median Household Income | $46,700 |