At $1,604/mo, rent takes about 18% of the local median household income, comfortably within the 30% benchmark.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,604 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: September 25, 2026
What the numbers show
30% of the median household income ($106,773) is $2,669 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($1,910).
From Zillow's monthly rent index (ZORI) for Chatham. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Chatham, IL is majority owner-occupied, has a large share of families with children, has a median income above the national average, 53.2% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Chatham, IL has changed in 5 years
Census figures show median household income at $106,773 today, compared with $95,310 five years earlier. Headcount in the area went from 14,245 to 14,639 between 2021 and 2024, a 2.8% change. About 19.4% of households rent today, against 21.2% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 46.9% to 53.2%.
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Can you afford rent in Chatham on your salary?
At $1,604/mo, how Chatham rent compares to typical pay (30% rule).
Chatham rent by bedroom count
Median rent for each apartment size in Chatham. Click any size for full breakdown.
Tips for renters in Chatham
Last updated: September 25, 2026
The median rent in Chatham is $1,604/mo as of September 2026. A studio apartment averages $950/mo while a 2-bedroom runs $1,380/mo. One-bedroom apartments average $1,120/mo and 3-bedroom units go for $1,860/mo.
At 18% of local median household income ($106,773/yr), Chatham ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.
Frequently asked questions
How much income do you need to rent in Chatham?
Is rent going up or down in Chatham?
How does Chatham rent compare to other cities in Illinois?
Which nearby cities are cheaper to rent in than Chatham?
At $1,604/mo, rent takes ~18% of Chatham's median household income ($106,773/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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