Cost of Living in Chatham, IL
Housing
The housing market plays a significant role in determining the cost of living in Chatham, IL.
- Housing Index: 101.8 / 100
- Median Home Price is: $225,000
- Average Rent (2 BR Apartment): $1533 per month
- Average Rent (2 BR House): $1667 per month
Considering the housing landscape in Chatham, IL, the housing index of 101.8 indicates that the cost of living is relatively affordable. With a median home price of 225000, purchasing a property may be a viable option for families or long-term residents. The average rent for a 2-bedroom apartment is 1533, while a 2-bedroom house averages 1667. These rates align with typical economic trends, suggesting a competitive rental market. Overall, whether buying or renting, Chatham presents a range of opportunities that are likely to appeal to a diverse demographic of home-seekers.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Chatham, IL.
- Electricity Price: $16.15 USD (median by state)
- Natural Gas Price: $16.59 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $244 per month
Living in Chatham, IL could entail higher utility costs. Electricity costs sit at $16.15, while natural gas is priced at $16.59 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $244 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Chatham is a financially viable option for your relocation.