Cost of Living in Madison, MN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
87.1
100 = national avg
-12.9 vs national average
Living Wage (1 Adult)
$38,312
per year
Living Wage (Family of 4)
$90,555
per year
Cost Index by Category
Housing81.6
Food93.1
Transportation86.3
Healthcare94.5
Utilities92.2
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$833
per month
2 Bedroom
$973
per month
The overall cost of living index in Madison is 87.1, which is 12.9% below the national average. Housing costs are below the national average at an index of 81.6. A single adult needs to earn approximately $38,312 per year to cover basic expenses.