Rents are right about where Chatham's 10-year trend predicts.
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 $3,106 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: October 17, 2026
What the numbers show
Rent in Chatham is at its highest level since Zillow's records here began in September 2023.
Rent in Chatham changed +4.9% over the year to September 2026. Across the 121 New Jersey cities Zillow tracks, the typical change was +3.1%.
Rent has risen 8 months in a row, and rose in 9 of the last 12 months.
30% of the median household income ($241,500) is $6,038 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($4,430).
Springfield, 5 miles away, rents for 16% less ($2,617/mo), about $5,900 a year in savings.
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, NJ is majority owner-occupied, has a large share of families with children, has a median income above the national average, 83.7% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Chatham, NJ has changed in 5 years
Local incomes tracked alongside that move, going from a median of $209,283 in 2021 to $241,500 more recently. Headcount in the area went from 9,208 to 9,407 between 2021 and 2024, a 2.2% change. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 79% to 83.7%.
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Can you afford rent in Chatham on your salary?
At $3,106/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: October 17, 2026
The median rent in Chatham is $3,106/mo as of October 2026. A studio apartment averages $2,240/mo while a 2-bedroom runs $3,090/mo. One-bedroom apartments average $2,550/mo and 3-bedroom units go for $3,890/mo.
At 15% of local median household income ($241,500/yr), Chatham ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.9% 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 New Jersey?
Which nearby cities are cheaper to rent in than Chatham?
At $3,106/mo, rent takes ~15% of Chatham's median household income ($241,500/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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