Madison, IN Cost Of Living

Demographics | Cost Of Living
Updated: 2023-11-15

Cost Of Living In Madison, IN Summary

Cost of living in Madison research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Madison is expensive. An index value below 100 means the city is a relatively cheap place to live.

On a city-by-city basis in Indiana, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:

  • The cost of living index in Madison is 90, with 100 being the average.

  • The cost of living index in Madison is 0.9x lower than the national average.

  • Madison ranks as the #72 cheapest in Indiana out of 124.

  • Madison ranks as the #1,633 cheapest out of 6,412 in the US.

  • The median home value in Madison is $149,900.

  • The median income in Madison is $47,392.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
90
Madison's Overall Cost Of Living
0.9x
Lower Than The National Average

What is the cost of living in Madison, IN?

According to the most recent data on the cost of living, Madison has an overall cost of living index of 90, which is 0.9x lower than the national index of 100.

Compared to Indiana, Madison has a cost of living index that's 1.0x lower than Indiana's index of 91.

The standard of living in Madison ranks as #72 most affordable out of the 124 places we measured in Indiana. By definition, that implies Madison ranks as the #52 most expensive place in the Hoosier State.

For more reading on life in Madison, check out:

72 out of 124
In Indiana
1,633 out of 6,412
In America

Madison Cost Of Living Vs. Indiana

Six factors go into calculating the cost of living index in Madison. Here is how it fairs on each of the criteria:

  • The Services index in Madison is 104.

  • The Groceries index in Madison is 93.

  • The Health index in Madison is 96.

  • The Housing index in Madison is 68.

  • The Transportation index in Madison is 104.

  • The Utilities index in Madison is 97.

Living Expense Madison Indiana National Average
Overall 90 91 100
Services 104 94 100
Groceries 93 96 100
Health 96 101 100
Housing 68 77 100
Transportation 104 95 100
Utilities 97 106 100
For more reading on cost of living around Indiana, check out:
Madison Cost of Living Vs. IN

Madison, IN Housing Cost Breakdown

Housing swings affordability the most between places in Indiana, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:

  • The Median Home Value in Madison is $149,900.

  • The Median Rent in Madison is $713.

  • The Median Income in Madison is $47,392.

  • The Home Value To Income in Madison is 3.2x.

  • The Rent To Monthly Income in Madison is 0.18x.

Statistic Madison Indiana United States
Median Home Value $149,900 $158,500 $244,900
Median Rent $713 $891 $1,163
Median Income $47,392 $61,944 $69,021
Home Value To Income 3.2x 2.6x 3.5x
Rent To Monthly Income 0.18x 0.17x 0.2x
Search Homes For Sale In Madison, IN
$149,900
Median Home Value
$713
Median Rent
$47,392
Median Income

Madison, IN Costs By Category

Detailed Madison Services Costs Vs. Indiana

Item Madison Indiana
Shampoo $0.94 $1.06
Movie $12.1 $10.68
Bowling $18.55 $14.67
Haircut $15.0 $18.62
Beauty Salon $49.58 $39.05

Detailed Madison Groceries Costs Vs. Indiana

Item Madison Indiana
Ground Beef $3.91 $4.22
Fried Chicken $1.09 $1.39
Milk $1.15 $2.05
Potatoes $2.99 $3.29
Pizza $10.33 $10.62
Beer $8.99 $9.38
Toothpaste $2.56 $2.34

Detailed Madison Health Costs Vs. Indiana

Item Madison Indiana
Optometrist $71.56 $108.57
Doctor $133.98 $116.17
Dentist $82.89 $99.13

Detailed Madison Transportation Costs Vs. Indiana

Item Madison Indiana
Gasoline $2.28 $2.22
Tire Balancing $51.83 $50.07

Detailed Madison Utilities Costs Vs. Indiana

Item Madison Indiana
All Electricity $157.62 $167.67
Phone $180.81 $175.64

Madison SnackAbility

5
/10
Overall SnackAbility
Jobs
6/10
Housing
6
Affordability
6
Diversity
6
Safety
N/A
Amenities
8
Education
7
Commute
8.5

Cost Of Living In Cities Around Madison

The cost of living varies in the cities and towns around Madison. Here's a quick look at the cost of living in the most populous nearby places:

  • Bridgetown, OH has a cost of living index of 90, 1.0x Madison.

  • Harrison, OH has a cost of living index of 91, 1.0x Madison.

  • Mack, OH has a cost of living index of 104, 1.2x Madison.

City Population Cost Of Living Vs. Madison
Bridgetown, OH 13,257 90 1.0x
Harrison, OH 12,801 91 1.0x
Mack, OH 11,452 104 1.2x
Dent, OH 11,069 96 1.1x
Edgewood, KY 8,427 103 1.1x
Villa Hills, KY 7,331 102 1.1x
Covedale, OH 6,646 97 1.1x

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