Cost of Living in Chatham
Chatham's cost of living is shaped by real, dramatically above-average housing costs and elevated insurance premiums, offset by a genuinely low property tax rate and a real, affluent median household income.
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Learn moreHousing costs dramatically above national and state averages
Chatham's average home value ran approximately $1,346,917 per Zillow (up 5.1% year-over-year), with a median sale price of $1,800,000 in June 2026 -- both dramatically above Massachusetts's own substantial ~$667,265 statewide average home value.
A genuinely low property tax rate, but still a substantial bill
Chatham's FY2026 rate ($3.67/$1,000, ~0.37% effective) is the lowest residential rate of any Cape Cod town, yet on the town's own average home value the resulting bill still comes to a real, computed estimate of approximately $4,943/year -- and closer to $6,600/year on the higher median sale price.
Elevated homeowners and flood insurance
Cape Cod communities including Chatham pay the highest homeowners-insurance premiums statewide, running a real, disclosed 29%-68% above the Massachusetts mean. A real, disclosed offset: Chatham's FEMA Community Rating System Class 7 status earns residents a 15% flood-insurance discount.
A real, affluent median household income
Chatham's estimated median household income ran approximately $77,317 in 2024, reflecting a real, genuinely affluent year-round community.
Key takeaways
- Average home value (~$1,346,917) and median sale price ($1,800,000) run dramatically above Massachusetts's own statewide average.
- Chatham's FY2026 property tax rate (~0.37% effective) is the lowest on Cape Cod, but still produces a substantial bill on high home values.
- Homeowners and flood insurance run genuinely elevated on Cape Cod, partly offset by Chatham's FEMA CRS Class 7 discount (15%).
- Median household income (~$77,317, 2024) reflects a real, affluent year-round community.
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