Housing, it's relative.
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7/16/2014
Other than the Milwaukee Metro area, it does cost more to live in Madison than the rest of WI. Housing is the primary factor making this community a difficult place for lower income folks to reside in. We knew this upon our arrival here back in 2000 and so we purchased a mobile home, believing we could have some privacy, our kids with their own bedrooms and not go broke in the process. Now however, the lot rent has climbed to over $600/mo, making this less economical than we believed it would be at this point, back when we moved in. Finding any sort of house to rent for under $1k/mo is next to impossible ansd apartments or condos aren't much better. While most of the country was suffering through a collapse in the realestate market a number of years ago, Madison kept right on chugging along, just at a bit of a lesser pace. Now again it has climbed back to double digit appreciation in the market. Unemployment always remains very low. The primary employers are state government related, given this is the state capitol, and at or related to the U of W, both behemoths relatively immune to recessions and just about anything else with the ability to suppress housing prices. Also key players in Madison's economy are the healthcare and insurance industries, more white collar types with greater than average immunity to business ups and downs. The Madison area is very nice, if you can afford it. You may or may not find it has pluses that outweigh the higher costs of living here. Comnpared to larger metro areas in other states, it could fare much better than versus those in the midwest.
Mark | Madison, WI