Cost of Living: Madison, WI vs Elizabeth, NJ (2026)

Madison

Wisconsin
103
VS

Elizabeth

New Jersey
112

Madison is 8% cheaper than Elizabeth.

$1,364/mo ↓ 7%
Median Rent
$1,463/mo ↑ 7%
$76,983/yr ↑ 21%
Median Income
$63,874/yr ↓ 17%
$346,900 ↓ 12%
Home Value
$393,500 ↑ 13%
$1,476/mo ↓ 4%
Owner Costs
$1,543/mo ↑ 5%
275,568
Population
135,887

Tax Comparison

7.65%
Income Tax
10.75%
5.0%
State Sales Tax
6.625%
1.61%
Property Tax
2.23%

Affordability

21.3%
rent-to-income
Affordability
27.5%
rent-to-income

Detailed Comparison

When comparing Madison, WI and Elizabeth, NJ, the overall cost of living indices are 103 and 112 respectively (national median = 100). Rent is $99/month cheaper in Madison, saving renters about $1,188/year.

Median household income is $13,109/year higher in Madison. Home values also differ significantly — the median in Madison is $346,900 compared to $393,500 in Elizabeth.

Wisconsin has a lower income tax rate, making Madison slightly more tax-friendly.

Frequently Asked Questions

Madison vs Elizabeth — common questions

Is Madison or Elizabeth cheaper to live in?
Based on our cost index, Madison is cheaper to live in with an index of 103 compared to 112 (US average = 100).
What is the rent difference between Madison and Elizabeth?
Median rent in Madison is $1,364/month and in Elizabeth it's $1,463/month — a difference of $99/month.
Which city has higher income, Madison or Elizabeth?
Median household income is $76,983 in Madison and $63,874 in Elizabeth. Median household income is $13,109/year higher in Madison.
How do taxes compare between Wisconsin and New Jersey?
Wisconsin has 7.65% income tax, 5.0% sales tax, and 1.61% property tax. New Jersey has 10.75% income tax, 6.625% sales tax, and 2.23% property tax.
Should I move to Madison or Elizabeth?
It depends on your priorities. Madison has a cost index of 103 with median rent of $1,364/mo, while Elizabeth has a cost index of 112 with rent of $1,463/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
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