Housing costs in New Madison?
A typical home costs
$177,700, which is 47.4% less expensive than the national average of
$338,100 and 9.8% less expensive than the average Ohio home, at
$197,000. Renting a two-bedroom unit in New Madison costs
$800 per month, which is 44.1% cheaper than the national average of
$1,430 and 22.5% cheaper than the state average of
$980.
Can I afford New Madison?
To live comfortably in New Madison (zip 45346), Ohio, a minimum annual income of
$34,200 for a family, and
$27,600 for a single person is recommended.
What does A.I. say about New Madison?
The cost of living in 45346 New Madison, OH is quite reasonable. The overall cost of living index is 91.5 which is lower than the US average of 100. Housing and utilities are the biggest expenses with median home prices sitting around $125,000 but rent being much lower at around $650 per month for a one bedroom apartment. Food and groceries are also quite affordable with basic items costing about 10% less than the national average. Additionally, transportation costs are also relatively low with gas prices usually averaging around $2.50 per gallon. All in all, the cost of living in 45346 New Madison, OH is very reasonable making it an attractive place to live for people on a budget.