Madison, North Carolina Cost Of Living

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Overall 18%

Goods & Services 8%

Housing 40%

Date & Last Updated: This data reflects 2020 and was released from C2ER in January, 2021; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Madison	North Carolina	National
Cost of living	82	95	100
Goods & Services	92	100	100
Groceries	93	98	100
Health care	93	108	100
Housing	60	85	100
Transportation	89	98	100
Utilities	89	98	100

Key findings

The cost of living in Madison is 14% lower than the North Carolina average
The cost of living in Madison is 18% lower than the national average
Madison housing is 40% lower than the national average
North Carolina general sales tax is 7% lower than the national average
North Carolina state income tax is 113% higher than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$41,250	$3,438	$962	$1,238
Renters	$19,188	$1,599	$448	$576

North Carolina Sales Tax

State	General Sales Tax	With Max Surtax
North Carolina	4.75%	7.5%

North Carolina Income Tax

State	Income Tax (Low)	Income Tax (High)
North Carolina	5.25%	5.25%

Goods & Services

Item	Madison	National avg.	Difference
Haircut	$16.78	$18.62	9.9%
Beauty Salon	$24.45	$39.05	37.4%
Toothpaste	$1.81	$2.34	22.7%
Shampoo	$0.90	$1.06	14.5%
Movie	$8.33	$10.68	22.0%
Bowling	$13.00	$14.67	11.4%

Groceries

Item	Madison	National avg.	Difference
Ground Beef	$4.12	$4.22	2.4%
Fried Chicken	$1.05	$1.39	24.0%
Milk	$1.77	$2.05	13.8%
Potatoes	$3.70	$3.29	12.4%
Pizza	$12.41	$10.62	16.8%
Beer	$10.10	$9.38	7.6%

Health Care

Item	Madison	National avg.	Difference
Optometrist	$105.89	$108.57	2.5%
Doctor	$117.00	$116.17	0.7%
Dentist	$80.33	$99.13	19.0%
Ibuprofen	$9.50	$9.68	1.9%
Lipitor	$482.54	$466.92	3.3%

Housing

Item	Madison	National avg.	Difference
Home Price	$105,200.00	$184,700.00	43.0%
Avg. Mortgage Payment	$921.25	$1,197.42	23.1%
Apartment Rent	$649.00	$949.00	31.6%

Transportation

Item	Madison	National avg.	Difference
Gasoline	$2.08	$2.22	6.6%
Tire Balancing	$38.67	$50.07	22.8%

Utilities

Item	Madison	National avg.	Difference
All Electricity	$137.37	$167.67	18.1%
Phone	$177.97	$175.64	1.3%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, State	Population	Cost of Living Index	National Avg.
Sandy Level, VA	339	77	-23%
Mayodan, NC	2,760	79	-21%
Eden, NC	15,434	79	-21%
Stoneville, NC	1,243	80	-20%
Germanton, NC	858	87	-13%
Madison, NC	2,259	82	-18%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Toledo, IA	2,258	79	-21%
Avilla, IN	2,260	85	-15%
Varnville, SC	2,258	78	-22%
Manchester, MI	2,258	96	-4%
Nice, CA	2,260	105	5%
Madison, NC	2,259	82	-18%

Source: The Madison, NC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2020.