Español

Este sitio también está en español. Leer en español

City · 9,407 residents · Morris County, New Jersey

Chatham , New Jersey

In Chatham, a typical home is worth $984,900 and typical rent is $2,250 a month. Compared with all of Morris County, typical household income is 76% higher, the typical home value is 69% higher, and the share of households that own their home is 8 points higher.

WhatsApp

  • Typical home value

    $984,900

    69% above the county

    117% above New Jersey

    • Chatham
    • Morris
    • New Jersey

  • Typical rent

    $2,250a month

    18% above the county

    31% above New Jersey

    • Chatham
    • Morris
    • New Jersey

  • Typical household income

    $241,500a year

    76% above the county

    133% above New Jersey

    • Chatham
    • Morris
    • New Jersey

  • Households that own their home

    83%

    8 points above the county

    19 points above New Jersey

    • Chatham
    • Morris
    • New Jersey

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$1,369,939
11.1% more than 12 months ago
Typical rent
$3,106 a month
3.9% more than 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Chatham is in Morris County. The FHA loan limit ($1,249,125 for a one-unit home), the fair market rents and the help on this page are those of all of Morris County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Chatham apart

What this place has that others do not, from public data, most unusual first.

  1. The typical household income in Chatham is $241,500, 76% more than in Morris County as a whole ($137,326).

  2. The typical home in Chatham is worth $984,900, 69% more than in Morris County as a whole ($582,500).

  3. According to Zillow, in the 12 months to September 2026 the typical home value in Chatham rose 11.1%; in New Jersey, it rose 4%.

  4. Nearby, in New Providence, the typical home value is $769,900: 22% less than in Chatham ($984,900).

  5. Nearby, in New Providence, the typical rent is $1,903: 15% less than in Chatham ($2,250).

  6. The typical rent in Chatham is $2,250 a month, 18% more than in Morris County as a whole ($1,904).

Sources: U.S. Census Bureau (Average 2020–2024); Zillow (September 2026 data). Zillow data

The homes here

Housing in Chatham

What homes there are in Chatham, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

Detached houses, standing on their own, make up 83% of homes here, against 65% in Morris County.

Year built

The typical home in Chatham was built in 1951, 20 years before the typical one in Morris County.

In Chatham, 81% of homes have 3 bedrooms or more, more than in Morris County (65%).

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

Owners with a mortgage

74%

Morris County: 65%

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

From 2015–2019 to 2020–2024, the typical home value in Chatham rose 32%; in Morris County, it rose 28%.

Much as in Morris County, the typical rent in Chatham rose 22% since 2015–2019.

While home values in Chatham changed +32% and rent +22%, the typical household income rose 26%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureChathamMorris CountyNew JerseyUnited States
Rental vacancy Unreliable estimate3.3%3.5%5.5%
Homeowner vacancy Unreliable estimate0.5%0.7%0.9%
More than one person per room Unreliable estimate1.7%4.0%3.4%
People per household 3.152.622.622.53
Drive alone 41%66%62%69%
Carpool Unreliable estimate6%8%9%
Public transit 18%3%8%3%
Walk or bike Unreliable estimate2%3%3%
Work from home 37%22%17%15%
Other means Unreliable estimate1%2%2%
Typical commute Unreliable estimate20 to 29 minutes20 to 29 minutes20 to 29 minutes

More people live in each home here: 3.15 on average, against 2.62 in Morris County.

Many people here do not commute at all: 37% work from home; in Morris County, 22%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Chatham?

A typical home costs more than the typical income allows

We start with a typical home in Chatham, worth $984,900, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 42% of the typical household income in Chatham, which is $241,500 a year. For that payment to be 28% of income, a household would need to earn about $359,690 a year.

The calculator's FHA and conventional loan limits are those of all of Morris County.

Your numbers

Local data
$

Starts at the typical home value in Chatham. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $34,472 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$8,393

at 7.18% · 30 years

Loan amount
$967,060
Total interest
$1,391,373
Paid off in
November 2056

Includes $16,632 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $5,635 a month

  • Tight

    $5,635 to $7,245 a month

  • Hard

    more than $7,245 a month

    Your payment · 42%

Compared with the typical household income in Chatham ($241,500 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$8,393
Principal & interest$6,551
Property tax$837
Home insurance$410
FHA mortgage insurance (MIP)$594

You need at least $34,472 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Chatham and Morris County

Chatham is in Morris County, New Jersey. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Chatham's own numbers

Typical home value
$984,900
Typical monthly rent
$2,250
Typical yearly household income
$241,500
Households that own their home
83%
Effective property tax rate
1.02%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Morris County

FHA limit, one-unit home
$1,249,125
Conventional limit, one unit
$1,209,750
HUD fair market rent, 2 bedrooms
$2,233
Price change over 5 years (FHFA)
+53%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Morris County.

Everything about Morris County

Buying

Buying a home in Chatham

A typical home in Chatham is worth $984,900: 69% above the county and 117% above New Jersey. With the typical household income in Chatham ($241,500 a year), a typical home costs 4.1 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Chatham 4.1 years
  • Morris 4.2 years
  • New Jersey 4.4 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Morris County

According to FHFA’s house price index, home prices in Morris County rose 68% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Morris County.

Period County New Jersey U.S.
Last year (2025) +5.9% +6.2% +2.9%
5 years (2020–2025) +53% +63% +47%
10 years (2015–2025) +68% +88% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Chatham next to Morris County, New Jersey and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Chatham $984,900
  • Morris $582,500
  • New Jersey $454,400
  • United States $332,700
Typical monthly rent
  • Chatham $2,250
  • Morris $1,904
  • New Jersey $1,720
  • United States $1,413
Typical yearly household income
  • Chatham $241,500
  • Morris $137,326
  • New Jersey $103,556
  • United States $80,734
See the full table
Chatham next to Morris County and New Jersey
Measure Chatham Morris County New Jersey U.S.
Typical home value $984,900 $582,500 $454,400 $332,700
Typical monthly rent $2,250 $1,904 $1,720 $1,413
Typical yearly household income $241,500 $137,326 $103,556 $80,734
Households that own their home 83% 74% 64% 65%
Typical yearly property tax $10,001 $10,001 $9,590 $3,119
Effective property tax rate 1.02% 1.72% 2.11% 0.94%
Renters with high rent for their income 41% 45% 52% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Morris County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Chatham

For a typical $984,900 home in Chatham, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Chatham's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $8,393a month

    Least cash to close
    Down payment
    $34,472
    Cash to close
    $64,019
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $594

  • Conventional, 5% down $8,054a month

    Down payment
    $49,245
    Cash to close
    $78,792
    Rate
    7.18%
    Mortgage insurance
    PMI · $468

  • Conventional, 20% down, no PMI $6,585a month

    Down payment
    $196,980
    Cash to close
    $226,527
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $7,496a month

    Down payment
    $147,735
    Cash to close
    $177,282
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Chatham and for Morris County.

Property tax

Effective rate in Chatham

1.02%of the home’s value each year

$10,001 a year for the typical owner in Chatham.

  • Chatham 1.02%
  • Morris 1.72%
  • New Jersey 2.11%

What New Jersey publishes ANCHOR, Senior Freeze and Stay NJ: one combined application (New Jersey Division of Taxation)

Exemptions and deadlines in New Jersey

Flood risk in Morris County

FEMA does not publish these numbers by city: they are for all of Morris County.

FEMA’s maps count no homes in the high-risk zone in Morris County. That does not mean it cannot flood: check your address.

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Chatham

Typical rent in Chatham is $2,250 a month: 18% above the county. In Chatham, 41% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Morris County, by unit size. To pay the 2-bedroom one ($2,233 a month) without spending more than 30% of your income, you would need to earn $42.94 an hour working full time.

HUD fair market rent for all of Morris County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,637 $31.48 $65,480
1 bedroom $1,850 $35.58 $74,000
2 bedrooms $2,233 $42.94 $89,320
3 bedrooms $2,785 $53.56 $111,400
4 bedrooms $3,188 $61.31 $127,520

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Chatham

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Chatham is in ZIP code 07928.

For 2 bedrooms it is $3,250: $1,017 more than the fair market rent for Morris County ($2,233).

  • 07928 $3,250$4,050

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Chatham when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Free help

Help to buy or rent in Chatham

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There is 1 HUD-approved agency with an office in Morris County; none says it serves in Spanish.

A young woman and a young man point to a line in their notes beside a laptop in a library.

HUD counseling is free or low-cost

Assistance programs in Chatham

No down payment, repair or rent-help program on our list is for Chatham or Morris County. The ones below are statewide in New Jersey: they work in Chatham the same as in the rest of the state.

Which programs do I qualify for? All programs in New Jersey

Housing counselors near Chatham

The HUD-approved agencies closest to the center of Chatham, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Credit.org - New Jersey Branch

    101 Eisenhower Pkwy, Roseland · 7 miles away · Spanish

    Also serves in other languages.

    • Mortgage delinquency and default
    • Budget and credit workshops
    • and 4 more
    (800) 431-8157

  • Tri-City Peoples Corporation

    675 S 19th St, Newark · 9 miles away

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 10 more
    (097) 367-5448

  • NEIGHBORHOODS FOR A SUSTAINABLE FUTURE fka NHS of Staten Island

    1120 E Saint Georges Ave, Linden · 10 miles away

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 3 more
    (908) 808-4035

Every agency in Morris County All counseling agencies in New Jersey

Help in Spanish near Chatham

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Chatham

HUD’s record names them for Chatham or Morris County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Morris County Housing Authority Public housing and Section 8 vouchers (973) 540-0389

4 other authorities have an office in Morris County: see the list Source: HUD

Cities

Other cities in Morris County

These cities are also in Morris County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Morris County Housing in New Jersey
See 14 more cities in Morris County, with prices and rents

Every city has its own page with prices, rents and help.

Nearby cities

The cities closest to Chatham, with the typical home value.

Neighboring counties

If Morris County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Chatham.

All guides
A mother smiles as she carries her young daughter on her shoulders (black and white).

Questions

Housing questions about Chatham

Short answers with the numbers for Chatham and all of Morris County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Chatham?

The typical home value in Chatham is $984,900, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Morris County it is $582,500.

How much does it cost to rent in Chatham?

Typical rent in Chatham is $2,250 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Morris County is $2,233.

What is the FHA loan limit in Chatham?

Chatham uses the FHA limit for all of Morris County (2026): $1,249,125 for a one-unit home and $2,402,625 for a four-unit home.

How much property tax do owners pay in Chatham?

The typical homeowner in Chatham pays $10,001 a year, according to the U.S. Census Bureau. That is 1.02% of the home’s value; in Morris County, the rate is 1.72%.

Where can I find free help to buy or rent in Chatham?

There is 1 HUD-approved counseling agency with an office in Morris County. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).