Chatham, NJ Cost Of Living
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
Chatham's Overall Cost Of Living
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:
- Living In Chatham
- Chatham Crime Report
- Search Homes For Sale In Chatham, NJ
In New Jersey
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 | |
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 |
Median Home Value
Median Rent
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
/10
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 |
