Chatham, NJ Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

Cost Of Living In Chatham, NJ Summary

Cost of living in Chatham research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Chatham is expensive. An index value below 100 means the city is a relatively cheap place to live.

On a city-by-city basis in New Jersey, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:

  • The cost of living index in Chatham is 172, with 100 being the average.

  • The cost of living index in Chatham is 1.7x higher than the national average.

  • Chatham ranks as the #231 cheapest in New Jersey out of 251.

  • Chatham ranks as the #6,149 cheapest out of 6,412 in the US.

  • The median home value in Chatham is $827,900.

  • The median income in Chatham is $209,283.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
172
Chatham's Overall Cost Of Living
1.7x
Higher Than The National Average

What is the cost of living in Chatham, NJ?

According to the most recent data on the cost of living, Chatham has an overall cost of living index of 172, which is 1.7x higher than the national index of 100.

Compared to New Jersey, Chatham has a cost of living index that's 1.5x higher than New Jersey's index of 111.

The standard of living in Chatham ranks as #231 most affordable out of the 251 places we measured in New Jersey. By definition, that implies Chatham ranks as the #20 most expensive place in the Garden State.

For more reading on life in Chatham, check out:

231 out of 251
In New Jersey
6,149 out of 6,412
In America

Chatham Cost Of Living Vs. New Jersey

Six factors go into calculating the cost of living index in Chatham. Here is how it fairs on each of the criteria:

  • The Services index in Chatham is 105.

  • The Groceries index in Chatham is 115.

  • The Health index in Chatham is 99.

  • The Housing index in Chatham is 329.

  • The Transportation index in Chatham is 111.

  • The Utilities index in Chatham is 92.

Living Expense Chatham New Jersey National Average
Overall 172 111 100
Services 105 104 100
Groceries 115 104 100
Health 99 95 100
Housing 329 130 100
Transportation 111 106 100
Utilities 92 108 100
For more reading on cost of living around New Jersey, check out:
Chatham Cost of Living Vs. NJ

Chatham, NJ Housing Cost Breakdown

Housing swings affordability the most between places in New Jersey, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:

  • The Median Home Value in Chatham is $827,900.

  • The Median Rent in Chatham is $1,834.

  • The Median Income in Chatham is $209,283.

  • The Home Value To Income in Chatham is 4.0x.

  • The Rent To Monthly Income in Chatham is 0.11x.

Statistic Chatham New Jersey United States
Median Home Value $827,900 $355,700 $244,900
Median Rent $1,834 $1,436 $1,163
Median Income $209,283 $89,703 $69,021
Home Value To Income 4.0x 4.0x 3.5x
Rent To Monthly Income 0.11x 0.19x 0.2x
Search Homes For Sale In Chatham, NJ
$827,900
Median Home Value
$1,834
Median Rent
$209,283
Median Income

Chatham, NJ Costs By Category

Detailed Chatham Services Costs Vs. New Jersey

Item Chatham New Jersey
Shampoo $1.09 $1.06
Movie $12.38 $10.68
Bowling $20.56 $14.67
Haircut $20.96 $18.62
Beauty Salon $45.37 $39.05

Detailed Chatham Groceries Costs Vs. New Jersey

Item Chatham New Jersey
Ground Beef $4.21 $4.22
Fried Chicken $1.94 $1.39
Milk $2.37 $2.05
Potatoes $3.52 $3.29
Pizza $11.27 $10.62
Beer $8.27 $9.38
Toothpaste $2.06 $2.34

Detailed Chatham Health Costs Vs. New Jersey

Item Chatham New Jersey
Optometrist $92.33 $108.57
Doctor $99.57 $116.17
Dentist $116.16 $99.13

Detailed Chatham Transportation Costs Vs. New Jersey

Item Chatham New Jersey
Gasoline $2.45 $2.22
Tire Balancing $53.07 $50.07

Detailed Chatham Utilities Costs Vs. New Jersey

Item Chatham New Jersey
All Electricity $147.86 $167.67
Phone $179.87 $175.64

Chatham SnackAbility

7
/10
Overall SnackAbility
Jobs
8.5/10
Housing
10
Affordability
8
Diversity
8
Safety
9
Amenities
8.5
Education
10
Commute
2

Cost Of Living In Cities Around Chatham

The cost of living varies in the cities and towns around Chatham. Here's a quick look at the cost of living in the most populous nearby places:

  • Westfield, NJ has a cost of living index of 170, 1.0x Chatham.

  • Morristown, TN has a cost of living index of 85, 0.5x Chatham.

  • Summit, NJ has a cost of living index of 185, 1.1x Chatham.

City Population Cost Of Living Vs. Chatham
Westfield, NJ 30,950 170 1.0x
Morristown, TN 30,387 85 0.5x
Summit, NJ 22,598 185 1.1x
Madison, NJ 16,819 164 1.0x
Bradley Gardens, NJ 14,798 144 0.8x
Short Hills, NJ 14,500 241 1.4x
New Providence, NJ 13,570 154 0.9x
Florham Park, NJ 12,655 165 1.0x
Hasbrouck Heights, NJ 12,120 134 0.8x
Martinsville, NJ 11,980 155 0.9x

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