| Index | Madison Heights | Virginia | National |
| Cost of living | 96 | 111 | 100 |
| Groceries | 101 | 103 | 100 |
| Health care | 104 | 103 | 100 |
| Housing | 77 | 129 | 100 |
| Transportation | 102 | 105 | 100 |
| Utilities | 105 | 104 | 100 |
| Lifestyle & Entertainment | 107 | 103 | 100 |
| Household Items | 103 | 102 | 100 |
| Education & Childcare | 110 | 109 | 100 |
Understanding the cost of living in Madison Heights can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Madison Heights cost of living index is 96, which is 4% lower than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
The cost of living in Madison Heights closely mirrors the national average in comparison to other cities nationwide. Essential items such as groceries, houshold expenses, health care and utilities are priced at a level consistent with similar urban areas. This means that residents of Madison Heights can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.
Is Madison Heights affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Madison Heights, for instance, where the median home price falls 19.8% lower than the national average, and monthly rent rates are 29.6% lower than usual. Additionally, median income levels contribute to the equation, with Madison Heights flaunting a median household income of $75,292, 7.4% lower than the national norm.
Taxes: Areas with higher taxes, including sales taxes and income taxes, can contribute to a higher cost of living. Paying more tax for everyday household expenses like clothing and food will result in higher costs, as will paying a higher rate of income tax. The general sales tax rate in Madison Heights starts at 5.3% and the income tax rates start at 2%.
Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Madison Heights, the transportation index is 2% higher than the national average.
Healthcare: Healthcare costs and insurance premiums can fluctuate greatly based on the city or state. Access to healthcare facilities, out-of-pocket expenses for doctor\’s visits, dentist costs, medication costs and specialized care costs can all impact the cost of living. In Madison Heights, the healthcare costs are 4.4% higher than the national average.
The Madison Heights cost of living data displayed above uses a U.S. average baseline of 100 to provide a practical way to compare living expenses across cities. Housing estimates incorporate U.S. Census home price and rental data, while all other values are generated using AI-assisted models based on everyday expense expectations, regional pricing trends, climate, transportation patterns, and local economic conditions. These values are designed for directional city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $88,649 | $7,387 | $2,068 | $2,660 |
| Renters | $36,901 | $3,075 | $861 | $1,107 |
| State | General Sales Tax | With Max Surtax |
| Virginia | 5.3% | 6% |
| State | Income Tax (Low) | Income Tax (High) |
| Virginia | 2% | 5.75% |
| City | Population | Cost of Living Index | National Avg. |
| Concord, VA | 1,045 | 93 | 6.6% |
| Big Island, VA | 178 | 96 | 3.5% |
| Amherst, VA | 2,640 | 99 | 1.3% |
| Rustburg, VA | 1,632 | 100 | 0.1% |
| Lynchburg, VA | 83,703 | 100 | 0.2% |
| Madison Heights, VA | 11,834 | 96 | 4.0% |
| City | Population | Cost of Living Index | National Avg. |
| Hamilton Square, NJ | 11,836 | 126 | 25.7% |
| Byram, MS | 11,831 | 93 | 7.4% |
| Nanakuli, HI | 11,830 | 145 | 45.1% |
| Lakeland Highlands, FL | 11,828 | 121 | 20.6% |
| Mountain Top, PA | 11,844 | 101 | 1.0% |
| Madison Heights, VA | 11,834 | 96 | 4.0% |
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