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Chatham, MI
Full City Profile · Michigan · Alger County County
3.5
/5.0
B+
Good
123
Population
50/sq mi density
$47,813
Median Income
$38,448 per capita
$154,200
Home Value
$199,010 Zillow
$683
Median Rent
51.0% income on rent
41°F
Avg Temperature
249 sunny days/yr
B+
Overall
3.5 / 5.0
Good overall score based on economy, affordability, safety and education
B+
Economy
3.9 / 5.0
$47,813 median income, 2.6% unemployment
A+
Affordability
4.9 / 5.0
$154,200 home value, $683/mo rent
C+
Safety
2.5 / 5.0
0 violent crimes/100K
C+
Education
2.8 / 5.0
22.5% bachelor's degree or higher
Housing Overview
Median Home Value
$154,200
45% below
US avg: $281,900
Median Rent
$683/mo
41% below
US avg: $1,163/mo
Homeownership Rate
75.3%
15% above US avg (65.4%)
Total Housing Units
93
Median year built: 1970
Home Value by Source
Census Median
$154,200
Zillow (ZHVI)
$199,010
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
75.3%
Owner-Occupied
24.7%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$807/mo
1 Bedroom
$891/mo
2 Bedroom
$1,113/mo
3 Bedroom
$1,419/mo
4 Bedroom
$1,588/mo
Census median rent:
$683/mo
Affordability & Housing Stock
Rent Burden
51.0%
of renters spending 30%+ of income on housing
65% above US avg (31.0%)
Median Year Built
1970
Average age of housing stock: 56 years
Homeownership Rate
75.3%
Complete Housing Data
Home Values
| Census Median Value | $154,200 |
| Zillow Home Value (ZHVI) | $199,010 |
Rent
| Census Median Rent | $683 |
| FMR Studio | $807 |
| FMR 1-Bedroom | $891 |
| FMR 2-Bedroom | $1,113 |
| FMR 3-Bedroom | $1,419 |
| FMR 4-Bedroom | $1,588 |
Market
Ownership & Stock
| Owner-Occupied | 75.3% |
| Renter-Occupied | 24.7% |
| Homeownership Rate | 75.3% |
| Total Housing Units | 93 |
| Median Year Built | 1970 |
| Rent Burden | 51.0% |