Cost of Living in Madison, VA
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
97.1
100 = national avg
-2.9 vs national average
Living Wage (1 Adult)
$42,743
per year
Living Wage (Family of 4)
$101,029
per year
Cost Index by Category
Housing126.0
Food86.0
Transportation71.9
Healthcare88.8
Utilities96.8
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$971
per month
2 Bedroom
$1,066
per month
The overall cost of living index in Madison is 97.1, which is 2.9% below the national average. Housing costs are above the national average at an index of 126.0. A single adult needs to earn approximately $42,743 per year to cover basic expenses.