Housing costs in Madison?
A typical home costs
$49,400, which is 85.4% less expensive than the national average of
$338,100 and 79.6% less expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Madison costs
$890 per month, which is 37.8% cheaper than the national average of
$1,430 and 41.6% cheaper than the state average of
$1,260.
Can I afford Madison?
To live comfortably in Madison (zip 62060), Illinois, a minimum annual income of
$9,360 for a family, and
$28,400 for a single person is recommended.
What does A.I. say about Madison?
The cost of living in Madison, IL (zip code 62060) is relatively affordable. The median household income is $48,868 which is slightly below the national average. The overall cost of living index in Madison is 89.9, lower than the national average of 100. Housing costs are also lower than the US Average with an index score of 79.2 and a median home value of just under $150,000. Goods and services have an index rating of 96.3, which is slightly higher than the national average. All in all, life in Madison offers great opportunities to save money without sacrificing quality of life or access to amenities.