Cost of Living in Madison, WI
Housing
The housing market plays a significant role in determining the cost of living in Madison, WI.
- Housing Index: 115.0 / 100
- Median Home Price is: $332000
- Average Rent (2 BR Apartment): $1800 per month
- Average Rent (2 BR House): $1840 per month
Considering a move to Madison, WI? The housing index stands at 115.0, indicating that prices are slightly higher than the national average. With a median home price of 332000, purchasing a home here may require a larger investment. Renting could also strain your budget, with an average of 1800 for a 2-bedroom apartment and 1840 for a house. Overall, assess your financial readiness and lifestyle priorities before making your decision to relocate, as the local market doesn't offer the most affordable options compared to other regions.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Madison, WI.
- Electricity Price: $17.6 USD (median by state)
- Natural Gas Price: $11.5 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Madison, WI could entail higher utility costs. Electricity costs sit at $17.6, while natural gas is priced at $11.5 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 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.