Located in southeastern Indiana, Madison County is a vibrant county with a rich history. It is home to major manufacturing, retail and service companies such as Cummins Engines, Kymco USA and Madison Precision Products, Inc. These firms form a critical part of the infrastructure in the area and help to create jobs and economic growth. The cost of living in Madison County is much lower than it is nationwide, with rent for two-bedroom apartments costing only $910 compared to $1,430 nationally – while Grocery Cost Index also fares well at 92 versus 100 in the US. The area has experienced steady population growth since 2010. Numerous influential individuals have come from Madison County over the years, such as former Secretary of State Cyrus Vance, architect Robert A.M. Stern and Pulitzer Prize winning author James Alan McPherson.
Madison County has an unemployment rate of 5.4%. The US average is 6.0%.
Madison County has seen the job market decrease by -4.8% over the last year. Future job growth over the next ten years is predicted to be 35.4%, which is higher than the US average of 33.5%.
Tax Rates for Madison County
- The Sales Tax Rate for Madison County is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Madison County is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Madison County
- The average income of a Madison County resident is $27,778 a year. The US average is $37,638 a year.
- The Median household income of a Madison County resident is $54,491 a year. The US average is $69,021 a year.