Are you considering a move to New Jersey and curious about what Chatham has to offer? I’m Corey Skaggs, your guide to all things real estate in the Garden State, and today, I’m diving deep into the heart of Chatham, New Jersey. From the charming streets to the sprawling parks, I’ll cover the pros, cons, demographics, and some invaluable resources for those thinking of buying property calling Chatham home.
Chatham at a Glance
Located just 25 miles west of New York City, Chatham offers a unique blend of suburban tranquility and urban accessibility. The area is divided into Chatham Borough, known for its proximity to the train station and slightly smaller properties, and Chatham Township, which boasts larger homes and more acreage. This distinction provides a variety of living options for potential homeowners.
Stay Informed with These Resources
To keep you updated, I’ve included two essential links below this video: one for the latest market report detailing Chatham’s housing market stats, and another for our community page, showcasing everything from local restaurants and parks to upcoming community events.
By the Numbers
Chatham’s population stands at approximately 19,553, with a nearly even split between the Borough and the Township. The median home value is a robust $970,100, reflecting the area’s desirability and the quality of life it offers. With 81% of residents owning their homes and a median household income of $207,059, Chatham is a prosperous community. The median age here is 40.9 years, and the tax rate is remarkably low compared to nearby commutable areas, making it a financially attractive option for many.
For those who crave more detailed insights into schools, crime rates, and community statistics, websites like greatschools.org, niche.com, city-data.com, and neighborhoodscouts.com are invaluable.
The Pros of Living in Chatham
Commute and Transportation: Chatham shines with its excellent transportation links, including a train station that connects residents to New York Penn Station and Hoboken in just 45-50 minutes. Its proximity to major highways further enhances its appeal for commuters.
Parks and Outdoor Spaces: Despite its modest size, Chatham is rich in green spaces. From the central hub of Memorial Park to the tranquil Shepherd Kollock Park and the extensive hiking trails at the Great Swamp National Wildlife Refuge, there’s no shortage of outdoor activities.
Boutique Shops and Main Street: Chatham’s Main Street is a vibrant mix of boutique shops, restaurants, and coffee shops, offering a charming atmosphere that’s hard to find elsewhere.
The Cons
Housing Prices: With a median home value of $970,000, Chatham’s real estate market might be steep for some. However, there are options across a wide range of prices, depending on size and condition.
Commute Time: For some, a 45-50 minute commute to New York might still be too long, though it’s relatively short compared to other areas in New Jersey.
Understanding Chatham’s Real Estate Market
To give you a clearer picture of what to expect budget-wise, here’s a breakdown of median prices by bedroom count, sourced from realtor.com:
- One-bedroom homes average at $394,000
- Two-bedroom homes at $542,000
- Three-bedroom homes at $765,000
- Four-bedroom homes at $1.1 million
- Five-bedroom homes reach up to $2 million
These figures are just starting points, and it’s possible to find properties below these median prices with some trade-offs in size, location, or renovation needs.
Let’s Connect!
I hope this overview helps illuminate what makes Chatham, New Jersey, a fantastic place to consider for your next home. If you have any questions or need further clarification, don’t hesitate to reach out or leave a comment below. And remember, for the most current insights into Chatham’s market and community, check out the links provided.
Your journey to finding the perfect home in Chatham starts here. Let’s make it a memorable one.
Best,
Corey Skaggs
