In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
A general summary of the cost of living index in Madison, WI is shown above. Compared to the state average of Wisconsin the cost of living index in Madison, WI is 108, which is 13% higher than the average in Wisconsin and compared to the national average it is 8% higher than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Madison, WI goods and services come in at 9% higher than the average in Wisconsin and are 6% higher than compared to the nationwide average.
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Did you know?
The cost of living in Madison is 13% higher than the Wisconsin average.
The cost of living in Madison is 8% higher than the national average.
The cost of housing in Madison is 13% higher than the national average.
Wisconsin general sales tax is 2% lower than the national average.
Wisconsin state income tax is 80% higher than the national average.
Compare Madison, WI Cost of living To Other Cities
This is how much you would need to earn in Price difference in compared to
Cost of living index
Goods & Services index
Health care index
Using the salary calculator lets you compare the salary you earn in Madison, WI to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Madison, WI, you have to earn a higher income in order to still have the same standard of living. To operate the Madison, WI salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.
Median Income & Debt-To-Income Ratio
Max Budget (28% DTI)
Max Budget (36% DTI)
If you want to find a good determining factor for the cost of living and the general affordability of housing in Madison, WI, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Madison, WI, the median monthly income is $87,974 for those who own their own homes. Under the standard rule, that income level would allow for $2,053 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $35,192, per the median income in the area. That would allow for renters to spend up to $821 on monthly rental expenses.
Wisconsin Sales Tax
General Sales Tax
With Max Surtax
Wisconsin Income Tax
Income Tax (Low)
Income Tax (High)
The Wisconsin sales tax and Wisconsin income tax rates should definitely be considered when determining the overall cost of living in Madison, WI. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Wisconsin sales tax is 5% and the maximum surtax is 6.75%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Wisconsin income tax rates range from 4% to 7.65%.
Goods & Services
Avg. Mortgage Payment
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.