Cost of Living in Chatham, NY

With a cost of living index of 93, Chatham, NY is slightly more affordable than average. Living here is 7% cheaper than the national average and 19% below the New York state average of 111. Chatham is a small community of 1,594 residents.

Housing costs are the biggest factor in Chatham's cost of living. The median monthly rent is $1,034 (22% below the US median of $1,319), and the median home value sits at $306,300 (0% below the national median of $304,900). At current prices, the median home costs roughly 3.5x the median household income — a moderately affordable ratio by today's standards.

The median household income in Chatham is $86,625, which is 15% higher than the national median of $75,149. Residents spend roughly 14% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Chatham. The area sees an average annual temperature of 46.1°F, with summers averaging 67°F and winters around 25°F. Annual rainfall totals 44.2 inches spread over roughly 161 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.