Cost of Living: Madison, WI vs Palm Bay, FL (2026)

Madison

Wisconsin
103
VS

Palm Bay

Florida
91

Madison is 13% more expensive than Palm Bay.

$1,364/mo ↓ 8%
Median Rent
$1,487/mo ↑ 9%
$76,983/yr ↑ 14%
Median Income
$67,521/yr ↓ 12%
$346,900 ↑ 40%
Home Value
$248,000 ↓ 29%
$1,476/mo ↑ 23%
Owner Costs
$1,203/mo ↓ 18%
275,568
Population
125,273

Tax Comparison

7.65%
Income Tax
0%
5.0%
State Sales Tax
6.0%
1.61%
Property Tax
0.86%

Affordability

21.3%
rent-to-income
Affordability
26.4%
rent-to-income

Detailed Comparison

When comparing Madison, WI and Palm Bay, FL, the overall cost of living indices are 103 and 91 respectively (national median = 100). Rent is $123/month cheaper in Madison, saving renters about $1,476/year.

Median household income is $9,462/year higher in Madison. Home values also differ significantly — the median in Madison is $346,900 compared to $248,000 in Palm Bay.

Florida has no state income tax, giving Palm Bay residents a significant tax advantage over Wisconsin's 7.65% rate.

Frequently Asked Questions

Madison vs Palm Bay — common questions

Is Madison or Palm Bay cheaper to live in?
Based on our cost index, Palm Bay is cheaper to live in with an index of 91 compared to 103 (US average = 100).
What is the rent difference between Madison and Palm Bay?
Median rent in Madison is $1,364/month and in Palm Bay it's $1,487/month — a difference of $123/month.
Which city has higher income, Madison or Palm Bay?
Median household income is $76,983 in Madison and $67,521 in Palm Bay. Median household income is $9,462/year higher in Madison.
How do taxes compare between Wisconsin and Florida?
Wisconsin has 7.65% income tax, 5.0% sales tax, and 1.61% property tax. Florida has 0% income tax, 6.0% sales tax, and 0.86% property tax.
Should I move to Madison or Palm Bay?
It depends on your priorities. Madison has a cost index of 103 with median rent of $1,364/mo, while Palm Bay has a cost index of 91 with rent of $1,487/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Madison details → View Palm Bay details →

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