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These days, finding an affordable place to live in the Chatham area can be challenging. Home prices in Chatham are now at a median cost of $225,572, lower than the Michigan average of $250,415.
The average cost of rent is $632/mo in Chatham, primarily driven by the current value of real estate in the Chatham area. In Chatham, 4.41% of households rent, and 46.08% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Chatham is $5,562 per month. Households that rent pay about 11.37% of their income on rent here. Chatham’s most expensive areas are in the eastern regions, while the cheapest areas are in the southern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Slapneck, MI: equally priced homes
- Eben Junction, MI: equally priced homes
- Rumely, MI: equally priced homes
- Traunik, MI: less expensive homes
- Au Train, MI: equally priced homes
- Dixon, MI: equally priced homes
- Ladoga, MI: less expensive homes
- Limestone, MI: equally priced homes
- Lawson, MI: equally priced homes
- Trenary, MI: less expensive homes
Cities with Similar Populations
- Dowell, IL: less expensive homes
- Galesville, MD: higher priced homes
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- Union, IA: less expensive homes
- Postville, WI: higher priced homes
- Pridgen, GA: less expensive homes
- Purley, TX: higher priced homes
- Quenemo, KS: less expensive homes
- Velma, MS: less expensive homes
- Randlett, OK: less expensive homes
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