Housing costs in Madison?
A typical home costs
$834,400, which is 146.8% more expensive than the national average of
$338,100 and 93.1% more expensive than the average New Jersey home, at
$432,100. Renting a two-bedroom unit in Madison costs
$2,160 per month, which is 51.0% more than the national average of
$1,430 and 20.8% more than the state average of
$1,710.
Can I afford Madison?
To live comfortably in Madison, New Jersey, a minimum annual income of
$159,840 for a family, and
$72,000 for a single person is recommended.
What does A.I. say about Madison?
The cost of living in Madison, NJ is relatively high compared to the rest of the country. The median home value in Madison is just over $550,000 and the median rent price is close to $1,800 per month. Groceries, transportation, healthcare costs, and other goods and services are also notably more expensive than the national average. That said, Madison residents still enjoy a higher quality of life with lower taxes and an abundance of cultural activities like parks, museums, theatres, and libraries.