The typical owner-occupied home in Chatham is worth about $323,100, 24% below the New York median of $423,800 and 3% below the national median of $332,700. Owners pay a median $4,703 a year in property taxes, about 1.46% of their home's value, lower than the New York rate of 1.55%. The median household earns $79,886 a year, so the median home costs 4.0 times the median income (4.9 times for New York). 54% of occupied homes here are lived in by their owners, and 52% of those owners still have a mortgage.
Chatham at a glance
| Chatham | New York | U.S. | |
|---|---|---|---|
| Median home value | $323,100 | $423,800 | $332,700 |
| Median property tax paid per year | $4,703 | $6,582 | $3,119 |
| Property tax as a share of value | 1.46% | 1.55% | 0.94% |
| Median household income | $79,886 | $85,974 | $80,734 |
| Homes lived in by their owners | 54% | 54% | 65% |
| Owner homes with a mortgage | 52% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,878 | $2,555 | $1,963 |
| Those costs as a share of the owners' income | 18.6% | 22.5% | 21.0% |
| Median rent | $1,080 | $1,621 | $1,413 |
| Rent as a share of renters' income | 26.3% | 31.2% | 30.6% |
| Median year homes were built | 1938 | 1959 | 1980 |
| Vacant homes | 10.7% | 10.0% | 10.1% |
| Population | 1,669 | 19,852,366 | 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 $323,100 with 20% down costs about $2,267 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,805, 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 $97,137 for the 20%-down payment. That payment is 34% of the median Chatham household income of $79,886; at that income and 20% down, the 28% guideline points to a home of about $266,000.
The median rent here is $1,080 a month, so owning the median home costs about $1,187 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $64,620 |
|---|---|
| Loan amount | $258,480 |
| Principal and interest | $1,739 |
| Property taxes (1.46% a year) | $393 |
| Homeowners insurance (our estimate, 0.5% a year) | $135 |
| PMI | $0 |
| Total per month | $2,267 |
Change the numbers in the calculator
| Down payment | $11,308 |
|---|---|
| Loan amount | $317,248 |
| Principal and interest | $2,134 |
| Property taxes (1.46% a year) | $393 |
| Homeowners insurance (our estimate, 0.5% a year) | $135 |
| FHA mortgage insurance | $143 |
| Total per month | $2,805 |
Change the numbers in the calculator
Questions about home buying in Chatham
What is the median home value in Chatham?
About $323,100 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 $4,703 a year, which is about 1.46% 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 $2,267 a month. Keeping that under 28% of gross income takes about $97,137 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