The typical owner-occupied home in Chatham is worth about $42,500, 80% below the Louisiana median of $216,500 and 87% below the national median of $332,700. Owners pay a median $199 a year in property taxes, about 0.47% of their home's value, lower than the Louisiana rate of 0.55%. The median household earns $37,353 a year, so the median home costs 1.1 times the median income (3.6 times for Louisiana). 60% of occupied homes here are lived in by their owners, and 30% of those owners still have a mortgage.
Chatham at a glance
| Chatham | Louisiana | U.S. | |
|---|---|---|---|
| Median home value | $42,500 | $216,500 | $332,700 |
| Median property tax paid per year | $199 | $1,180 | $3,119 |
| Property tax as a share of value | 0.47% | 0.55% | 0.94% |
| Median household income | $37,353 | $60,756 | $80,734 |
| Homes lived in by their owners | 60% | 67% | 65% |
| Owner homes with a mortgage | 30% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $784 | $1,604 | $1,963 |
| Those costs as a share of the owners' income | 24.3% | 20.4% | 21.0% |
| Median rent | $758 | $1,064 | $1,413 |
| Rent as a share of renters' income | 29.6% | 32.8% | 30.6% |
| Median year homes were built | 1973 | 1983 | 1980 |
| Vacant homes | 23.2% | 14.4% | 10.1% |
| Population | 534 | 4,611,961 | 334,922,499 |
What a typical home costs per month in Chatham
At this week's average 30-year rate of 7.11%, buying the median Chatham home of $42,500 with 20% down costs about $263 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $334, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $11,274 for the 20%-down payment. That payment is 8% of the median Chatham household income of $37,353; at that income and 20% down, the 28% guideline points to a home of about $141,000.
The median rent here is $758 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $8,500 |
|---|---|
| Loan amount | $34,000 |
| Principal and interest | $229 |
| Property taxes (0.47% a year) | $17 |
| Homeowners insurance (our estimate, 0.5% a year) | $18 |
| PMI | $0 |
| Total per month | $263 |
Change the numbers in the calculator
| Down payment | $1,488 |
|---|---|
| Loan amount | $41,730 |
| Principal and interest | $281 |
| Property taxes (0.47% a year) | $17 |
| Homeowners insurance (our estimate, 0.5% a year) | $18 |
| FHA mortgage insurance | $19 |
| Total per month | $334 |
Change the numbers in the calculator
Questions about home buying in Chatham
What is the median home value in Chatham?
About $42,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Chatham?
Homeowners pay a median $199 a year, which is about 0.47% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Chatham?
For the median home with 20% down at 7.11%, the payment is about $263 a month. Keeping that under 28% of gross income takes about $11,274 a year.
More about Chatham
- Mortgage Refinance in Chatham
- Debt Relief in Chatham
- Home Equity Loans in Chatham
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data