Housing costs in Madison?
A typical home costs
$121,600, which is 64.0% less expensive than the national average of
$338,100 and 60.7% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Madison costs
$750 per month, which is 47.6% cheaper than the national average of
$1,430 and 65.3% cheaper than the state average of
$1,240.
Can I afford Madison?
To live comfortably in Madison, Minnesota, a minimum annual income of
$23,400 for a family, and
$22,800 for a single person is recommended.
What does A.I. say about Madison?
Madison, MN is an affordable place to live with a low cost of living. The city's median home value is $180,000, and the median household income is around $62,000. The average rent for a one-bedroom apartment in Madison is just over $850 per month. Utilities are generally reasonable too; on average, electricity costs around $125 per month. Sales tax in Madison is 6.875%, and there are no special taxes or fees imposed beyond that. All in all, the cost of living in Madison makes it an attractive place to live and work for those looking for an affordable lifestyle.