Madison, VA is a great place to live with plenty of local businesses to explore. Some of the local companies include Madison Hardware, Burt's BBQ, and Bottomless Brewery. The cost of living in Madison is also very attractive, with 2-bedroom rents averaging $930 per month compared to the US average of $1,430. Grocery costs are also lower in Madison than the national average, with an index score of 105 versus 100 nationwide. Beyond these economic benefits however, Madison offers plenty to see and do as well. Whether it’s biking on scenic trails or enjoying a cozy outdoor dinner at one of the many restaurants nearby, living in Madison is sure to make each day an adventure!
Madison has an unemployment rate of 3.2%. The US average is 6.0%.
Madison has seen the job market decrease by -4.1% over the last year. Future job growth over the next ten years is predicted to be 33.0%, which is lower than the US average of 33.5%.
Tax Rates for Madison
- The Sales Tax Rate for Madison is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Madison is 5.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Madison
- The average income of a Madison resident is $19,786 a year. The US average is $37,638 a year.
- The Median household income of a Madison resident is $40,417 a year. The US average is $69,021 a year.