The typical owner-occupied home in Chatham is worth about $1,866,800, 3.3 times the Massachusetts median of $562,100 and 5.6 times the national median of $332,700. Owners pay a median $8,029 a year in property taxes, about 0.43% of their home's value, lower than the Massachusetts rate of 1.07%. The median household earns $83,750 a year, so the median home costs 22.3 times the median income (5.4 times for Massachusetts). 73% of occupied homes here are lived in by their owners, and 26% of those owners still have a mortgage.
Chatham at a glance
| Chatham | Massachusetts | U.S. | |
|---|---|---|---|
| Median home value | $1,866,800 | $562,100 | $332,700 |
| Median property tax paid per year | $8,029 | $5,992 | $3,119 |
| Property tax as a share of value | 0.43% | 1.07% | 0.94% |
| Median household income | $83,750 | $103,960 | $80,734 |
| Homes lived in by their owners | 73% | 63% | 65% |
| Owner homes with a mortgage | 26% | 66% | 61% |
| Median monthly costs, owners with a mortgage | $3,295 | $2,726 | $1,963 |
| Those costs as a share of the owners' income | 39.4% | 21.9% | 21.0% |
| Median rent | $1,311 | $1,762 | $1,413 |
| Rent as a share of renters' income | 32.7% | 30.9% | 30.6% |
| Median year homes were built | 1970 | 1964 | 1980 |
| Vacant homes | 55.3% | 8.1% | 10.1% |
| Population | 1,600 | 7,044,056 | 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 $1,866,800 with 20% down costs about $11,493 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $14,903, 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 $492,567 for the 20%-down payment. That payment is 165% of the median Chatham household income of $83,750; at that income and 20% down, the 28% guideline points to a home of about $317,000.
The median rent here is $1,311 a month, so owning the median home costs about $10,182 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $373,360 |
|---|---|
| Loan amount | $1,493,440 |
| Principal and interest | $10,046 |
| Property taxes (0.43% a year) | $669 |
| Homeowners insurance (our estimate, 0.5% a year) | $778 |
| PMI | $0 |
| Total per month | $11,493 |
Change the numbers in the calculator
| Down payment | $65,338 |
|---|---|
| Loan amount | $1,832,988 |
| Principal and interest | $12,331 |
| Property taxes (0.43% a year) | $669 |
| Homeowners insurance (our estimate, 0.5% a year) | $778 |
| FHA mortgage insurance | $1,126 |
| Total per month | $14,903 |
Change the numbers in the calculator
Questions about home buying in Chatham
What is the median home value in Chatham?
About $1,866,800 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 $8,029 a year, which is about 0.43% 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 $11,493 a month. Keeping that under 28% of gross income takes about $492,567 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