Madison Heights, VA

Very Low · 59

Virginia · Population 10,398 · Updated March 2026

$826
Median Rent / Month
$62,727
Median Income
$181,300
Median Home Value
$862
Owner Costs / Month

Affordability

How far your income goes in Madison Heights

15.8%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Virginia

State-level tax rates that affect your costs

5.75%
Income Tax (Top Rate)
5.3%
Sales Tax
0.8%
Property Tax Rate

Estimated Annual Costs

$9,912
Annual Rent
$3,607
State Income Tax
$1,450
Property Tax (est.)

Cost of Living Overview

Madison Heights is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 59 (where 100 equals the national median), Madison Heights residents can expect to pay median rent of $826/month while earning a median household income of $62,727/year.

The median home value in Madison Heights, VA is $181,300, with typical monthly owner costs around $862 including mortgage, insurance, and taxes. The median rent-to-income ratio of 15.8% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Virginia has a moderate income tax rate of 5.75%. Combined with a 5.3% sales tax rate and 0.8% effective property tax rate, the overall tax environment is a factor in the total cost of living in Madison Heights.

Frequently Asked Questions

Common questions about living costs in Madison Heights

What is the cost of living in Madison Heights, VA?
The cost of living index in Madison Heights, VA is 59 (US average = 100). Median monthly rent is $826, median household income is $62,727/year, and the median home value is $181,300.
Is Madison Heights, VA affordable?
Yes, Madison Heights is more affordable than the national average with a cost index of 59. The rent-to-income ratio is 15.8%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Madison Heights, VA?
The median gross rent in Madison Heights, VA is $826 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $9,912.
What is the median household income in Madison Heights?
The median household income in Madison Heights, VA is $62,727 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Virginia?
Virginia has a top income tax rate of 5.75%, a sales tax of 5.3%, and an effective property tax rate of 0.8%.