Chatham, NJ vs Monmouth Beach, NJ

Chatham, NJ and Monmouth Beach, NJ have a very similar cost of living, with only a 2.6% difference in their overall index. Chatham scores 185 while Monmouth Beach scores 180 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Chatham is $2,251/month compared to $2,169/month in Monmouth Beach — a 4% difference. Home values follow the same pattern: Monmouth Beach is more affordable at $918,100 median vs $944,300.

Median household income in Chatham is $250,001 compared to $140,074 in Monmouth Beach (+78.5%). While Chatham is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Chatham spend roughly 10.8% of their income on rent, less than the 18.6% in Monmouth Beach.