Cost of Living in Madison, IL
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
77.4
100 = national avg
-22.6 vs national average
Living Wage (1 Adult)
$34,066
per year
Living Wage (Family of 4)
$80,519
per year
Cost Index by Category
Housing78.0
Food83.8
Transportation67.5
Healthcare87.0
Utilities85.9
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$995
per month
2 Bedroom
$1,218
per month
The overall cost of living index in Madison is 77.4, which is 22.6% below the national average. Housing costs are below the national average at an index of 78.0. A single adult needs to earn approximately $34,066 per year to cover basic expenses.