Chatham, NJ, has a higher cost of living compared to the nationwide average. The overall cost of living index in Chatham stands at 120%, indicating that residents typically spend 20% more than the national average. Housing costs are particularly elevated, with an index of 130%, meaning housing expenses are 30% higher than the national average.
Chatham, NJ, has a higher cost of living compared to the nationwide average, which is set at 100. The housing index in Chatham stands at 130, indicating that housing costs are 30% higher than the national average. This significant increase suggests that potential residents may need to budget more for rent or mortgage payments.
Other expenses in Chatham also reflect higher costs. For instance, groceries cost 5% more, with an index of 105. Utilities are 10% higher, at 110, while transportation costs are 15% higher, with an index of 115. Healthcare expenses are 20% above the average, at 120, and miscellaneous costs are 25% higher, with an index of 125. These figures highlight the need for careful financial planning for those considering Chatham, NJ, as their new home.
