Chatham, NJ vs Ridgewood, NJ

Chatham, NJ and Ridgewood, NJ have a very similar cost of living, with only a 1.3% difference in their overall index. Chatham scores 185 while Ridgewood scores 183 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 $2,340/month in Ridgewood — a 4% difference. Interestingly, home values tell a different story: while Chatham has cheaper rent, Ridgewood actually has lower median home values ($882,700 vs $944,300).

Median household income in Chatham is $250,001 compared to $217,250 in Ridgewood (+15.1%). 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 12.9% in Ridgewood.