Housing costs in Madison?
A typical home costs
$313,000, which is 7.4% less expensive than the national average of
$338,100 and 12.8% more expensive than the average Tennessee home, at
$277,400. Renting a two-bedroom unit in Madison costs
$1,350 per month, which is 26.2% more than the national average of
$1,070 and 2.2% cheaper than the state average of
$1,380.
Can I afford Madison?
To live comfortably in Madison (zip 37115), Tennessee, a minimum annual income of
$60,120 for a family, and
$48,000 for a single person is recommended.
What does A.I. say about Madison?
The cost of living in 37115 Madison, TN is fairly affordable when compared to other parts of the state. Property taxes are low and the median household income is a manageable $49,690. The average home price in this area is relatively inexpensive at $132,400, making it a great option for those looking to purchase their first home or upgrade from something smaller. Renters can expect to pay less than the national average with the median rent for a two-bedroom apartment clocking in at just over $1,000 per month. Groceries are also generally cheaper than other areas with an overall grocery index of 91.3 which means goods and services are around 8% cheaper than the US average.