Housing costs in Madison?
A typical home costs
$50,600, which is 85.0% less expensive than the national average of
$338,100 and 79.1% less expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Madison costs
$860 per month, which is 39.9% cheaper than the national average of
$1,430 and 46.5% cheaper than the state average of
$1,260.
Can I afford Madison?
To live comfortably in Madison, Illinois, a minimum annual income of
$9,720 for a family, and
$27,200 for a single person is recommended.
What does A.I. say about Madison?
Madison, IL offers an affordable cost of living compared to the national average. The median home price in Madison is $67,400 which is significantly lower than the national average of $184,700. In addition, the cost of utilities in Madison is also lower than that of the United States as a whole. Residents of Madison can expect to pay around 13% less than the national average on their monthly utility bills. Property taxes are also very reasonable in Madison and are below the national average at just 0.6%. With such low costs for shelter and utilities, Madison is an attractive place to live for people looking for a budget-friendly town.