Cost of Living in Madison, FL
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
65.6
100 = national avg
-34.4 vs national average
Living Wage (1 Adult)
$28,860
per year
Living Wage (Family of 4)
$68,214
per year
Cost Index by Category
Housing70.2
Food73.7
Transportation47.4
Healthcare79.0
Utilities78.3
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$969
per month
2 Bedroom
$1,086
per month
The overall cost of living index in Madison is 65.6, which is 34.4% below the national average. Housing costs are below the national average at an index of 70.2. A single adult needs to earn approximately $28,860 per year to cover basic expenses.