Wisconsin · Population 275,568 · Updated March 2026
How far your income goes in Madison
State-level tax rates that affect your costs
Madison has a cost of living close to the national average, offering a balanced mix of expenses and amenities. With a cost index of 103 (where 100 equals the national median), Madison residents can expect to pay median rent of $1,364/month while earning a median household income of $76,983/year.
The median home value in Madison, WI is $346,900, with typical monthly owner costs around $1,476 including mortgage, insurance, and taxes. The median rent-to-income ratio of 21.3% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.
Wisconsin has a moderate income tax rate of 7.65%. Combined with a 5.0% sales tax rate and 1.61% effective property tax rate, the overall tax environment is a factor in the total cost of living in Madison.
Common questions about living costs in Madison
Similar-sized cities to compare
Compare the cost of living in Madison, WI with 299 other major U.S. cities