Cost of Living in Madison, IL

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21%
Overall NAT. AVG.
5%
Groceries NAT. AVG.
60%
Housing NAT. AVG.
Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
The cost of living index is based on a national average of 100. For example, if the cost of living score is 90, then the estimated cost of living is 10% lower than the national average. If the score is 110, then the estimated cost of living is 10% higher than average. The overall index is calculated using weighted estimates across major everyday expense categories, including housing (30%), groceries (16%), transportation (12%), healthcare (10%), utilities (8%), lifestyle and entertainment (8%), household expenses (8%), and education and childcare (8%). All values are AI-assisted city-level estimates designed for directional comparisons.
Index Madison Illinois National
Cost of living7998100
Groceries96100100
Health care95100100
Housing4095100
Transportation97101100
Utilities9599100
Lifestyle & Entertainment94100100
Household Items95100100
Education & Childcare94100100
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Homes For Sale In Madison, IL

property for sale

1664 5th St

Madison, IL
property for sale

1111 Greenwood St

Madison, IL
property for sale

1735 Rhodes St

Madison, IL
property for sale

217 W 2nd St

Madison, IL
See the Newest Homes For Sale In Madison, IL

Cost Of Living Quick Facts

  • The cost of living in Madison is 20% lower than the Illinois average
  • The cost of living in Madison is 21% lower than the national average
  • Madison housing is 60% lower than the national average
  • Illinois general sales tax is 22% higher than the national average
  • Illinois state income tax is 91% higher than the national average

Most Affordable Places to Live in and Around Madison

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Compare Madison, IL Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index
      Lifestyle index
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      Educare index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$61,779$5,148$1,441$1,854
      Renters$33,555$2,796$783$1,007
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Madison, IL, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Madison, homeowners have a median income of $61,779. Using that number, a maximum of $1,441 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $33,555, which means there is a maximum of $783 to be spent on the costs of renting a home or apartment.

      Illinois Sales Tax

      State General Sales Tax With Max Surtax
      Illinois 6.25% 10.25%

      Illinois Income Tax

      State Income Tax (Low) Income Tax (High)
      Illinois 4.95% 4.95%

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Brooklyn, IL4457426.2%
      East St. Louis, IL27,0337722.5%
      Alorton, IL2,1497822.3%
      East Carondelet, IL3307822.2%
      Centreville, IL5,0987822.0%
      Madison, IL3,0407921.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Glenville, CT3,04020099.6%
      Boxford, MA3,04019898.4%
      Shorewood Forest, IN3,03912928.6%
      Chevy Chase, MD3,039259158.6%
      Penndel, PA3,03911010.0%
      Madison, IL3,0407921.2%
      Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
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