| Index | Madison | Indiana | National |
| Cost of living | 91 | 89 | 100 |
| Groceries | 98 | 97 | 100 |
| Health care | 95 | 97 | 100 |
| Housing | 77 | 72 | 100 |
| Transportation | 99 | 96 | 100 |
| Utilities | 99 | 96 | 100 |
| Lifestyle & Entertainment | 92 | 95 | 100 |
| Household Items | 95 | 98 | 100 |
| Education & Childcare | 101 | 94 | 100 |
Are you thinking about relocating, but curious about the potential cost of living in Madison? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Madison stands at 91, making it 9% lower than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.
The cost of living in Madison 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 can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.
Wondering if Madison is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Madison, for example, the median home price is 20.3% lower than what folks pay nationally, and monthly rent is 28.1% lower than the usual rates. Plus, income levels matter too, with Madison boasting a median household income of $62,709, which is 22.9% lower than the national average.
Subsidies: Certain regions may provide government subsidies or assistance initiatives designed to alleviate the cost of living burden on their residents. These programs encompass a wide range of support mechanisms, such as Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas with fewer subsidy offerings might experience an elevation in their cost of living.
Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Madison, the transportation index is 1.5% lower than the national average.
Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Madison, the groceries index is 2.1% lower than the national average.
The Madison cost of living data above is designed around a U.S. average baseline of 100, allowing for easy comparisons of relative living costs. Housing incorporates U.S. Census home price and rental data, while all other figures are AI-assisted estimates that account for regional price trends, climate, transportation dynamics, and common everyday expenses. These values are best used as 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 | $85,185 | $7,099 | $1,988 | $2,556 |
| Renters | $44,670 | $3,723 | $1,042 | $1,340 |
| State | General Sales Tax | With Max Surtax |
| Indiana | 7% | 7% |
| State | Income Tax (Low) | Income Tax (High) |
| Indiana | 3.15% | 3.15% |
| City | Population | Cost of Living Index | National Avg. |
| Kent, IN | 0 | 96 | 3.5% |
| Canaan, IN | 72 | 95 | 4.8% |
| Deputy, IN | 35 | 97 | 3.2% |
| Bedford, KY | 409 | 81 | 19.0% |
| Prestonville, KY | 192 | 81 | 19.3% |
| Madison, IN | 12,030 | 91 | 8.9% |
| City | Population | Cost of Living Index | National Avg. |
| Four Corners, TX | 12,032 | 107 | 7.2% |
| Arlington, TN | 12,027 | 114 | 13.8% |
| Mango, FL | 12,034 | 99 | 1.5% |
| Largo, MD | 12,034 | 122 | 21.6% |
| Excelsior Springs, MO | 12,038 | 91 | 8.8% |
| Madison, IN | 12,030 | 91 | 8.9% |
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