Cost of Living in Madison, CT
Housing
The housing market plays a significant role in determining the cost of living in Madison, CT.
- Housing Index: 130.0 / 100
- Median Home Price is: $466,750
- Average Rent (2 BR Apartment): $2400 per month
- Average Rent (2 BR House): $2560 per month
When considering a move to Madison, CT, the housing market appears significantly more expensive than the national average, as indicated by a housing index of 130.0. The median home price stands at 466750, which may pose a challenge for potential buyers. Rental costs are equally high, with an average of 2400 for a 2-bedroom apartment and 2560 for a 2-bedroom house. Given these figures, it is essential to evaluate your budget and housing preferences carefully. You may also explore nearby areas for possibly more affordable living options.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Madison, CT.
- Electricity Price: $26 USD (median by state)
- Natural Gas Price: Data is updating (median by state)
- Other Utilities (water, garbage, etc.): $300 per month
Living in Madison, CT could entail higher utility costs. Electricity costs sit at $26, while natural gas is priced at data unavailable per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $300 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Madison is a financially viable option for your relocation.