Chatham, NJ vs Somerset, NJ

The cost of living difference between Chatham, NJ and Somerset, NJ is dramatic. Somerset is 37% cheaper than Chatham, a gap that translates to thousands of dollars per year in household expenses. Chatham has a cost index of 185 while Somerset sits at 135, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

On the housing front, median rent in Chatham is $2,251/month compared to $2,050/month in Somerset — a 10% difference. Home values follow the same pattern: Somerset is more affordable at $408,600 median vs $944,300.

Median household income in Chatham is $250,001 compared to $113,603 in Somerset (+120.1%). 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 21.7% in Somerset.