Housing costs in Chatham?
A typical home costs
$1,001,100, which is 196.1% more expensive than the national average of
$338,100 and 131.7% more expensive than the average New Jersey home, at
$432,100. Renting a two-bedroom unit in Chatham costs
$2,380 per month, which is 66.4% more than the national average of
$1,430 and 28.2% more than the state average of
$1,710.
Can I afford Chatham?
To live comfortably in Chatham (zip 07928), New Jersey, a minimum annual income of
$191,880 for a family, and
$79,200 for a single person is recommended.
What does A.I. say about Chatham?
The cost of living in 07928 Chatham, NJ is relatively high compared to the national average. According to the Cost of Living Index, housing, groceries, utilities, and transportation are all well above the national median. The median home value is over $600,000, which drives up rental prices significantly. Groceries are more expensive due to the abundance of specialty stores and limited access to larger supermarkets. Utilities also tend to be higher in this area. On the other hand, taxes are slightly lower than the national average due to its proximity to New York City. All in all, living in 07928 Chatham comes with a hefty price tag but still provides a great quality of life for those who can afford it.