Madison, WV is a small town in West Virginia that many people find appealing due to its affordable living costs. The average 2 Bedroom Rent in Madison is only $810 whereas the US average is $1,430. Additionally, the grocery cost index in Madison is 97 verses 100 in the US which makes it even more attractive for those looking to save money. The city of Madison benefits from local companies such as Precision Manufacturing Inc., which offers production machining and engineering services to industries all over the world. Another great company, AEP River Operations LLC., provides river transportation services on the Ohio River. These local companies have helped to bolster Madison’s economy by providing jobs and creating opportunities for growth and development within the community.
Madison has an unemployment rate of 7.0%. The US average is 6.0%.
Madison has seen the job market decrease by -0.2% over the last year. Future job growth over the next ten years is predicted to be 16.2%, which is lower than the US average of 33.5%.
Tax Rates for Madison
- The Sales Tax Rate for Madison is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Madison is 6.5%. 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 $26,562 a year. The US average is $28,555 a year.
- The Median household income of a Madison resident is $51,982 a year. The US average is $69,021 a year.