Madison, SD Cost Of Living
Cost Of Living In Madison, SD Summary
Cost of living in Madison research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Madison is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in South Dakota, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Madison is 84, with 100 being the average.
The cost of living index in Madison is 0.8x lower than the national average.
Madison ranks as the #1 cheapest in South Dakota out of 19.
Madison ranks as the #406 cheapest out of 6,489 in the US.
The median home value in Madison is $259,961.
The median income in Madison is $62,180.
Table Of Contents
Madison's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Madison, SD?
According to the most recent data on the cost of living, Madison has an overall cost of living index of 84, which is 0.8x lower than the national index of 100.
Compared to South Dakota, Madison has a cost of living index that's 1.0x lower than South Dakota's index of 88.
The standard of living in Madison ranks as #1 most affordable out of the 19 places we measured in South Dakota. By definition, that implies Madison ranks as the #18 most expensive place in the Mount Rushmore State.
For more reading on life in Madison, check out:
In South Dakota
In America
Madison Cost Of Living Vs. South Dakota
Six factors go into calculating the cost of living index in Madison. Here is how it fairs on each of the criteria:
The Services index in Madison is 90.
The Groceries index in Madison is 97.
The Health index in Madison is 104.
The Housing index in Madison is 69.
The Transportation index in Madison is 89.
The Utilities index in Madison is 86.
| Living Expense | Madison | South Dakota | National Average | |
|---|---|---|---|---|
| Overall | 84 | 88 | 100 | |
| Services | 90 | 95 | 100 | |
| Groceries | 97 | 98 | 100 | |
| Health | 104 | 100 | 100 | |
| Housing | 69 | 78 | 100 | |
| Transportation | 89 | 95 | 100 | |
| Utilities | 86 | 89 | 100 | |
Madison, SD Housing Cost Breakdown
Housing swings affordability the most between places in South Dakota, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Madison is $259,961.
The Median Rent in Madison is $874.
The Median Income in Madison is $62,180.
The Home Value To Income in Madison is 4.2x.
The Rent To Monthly Income in Madison is 0.17x.
| Statistic | Madison | South Dakota | United States |
|---|---|---|---|
| Median Home Value | $259,961 | $315,406 | $303,400 |
| Median Rent | $874 | $912 | $1,348 |
| Median Income | $62,180 | $72,421 | $78,538 |
| Home Value To Income | 4.2x | 4.4x | 3.9x |
| Rent To Monthly Income | 0.17x | 0.15x | 0.21x |
Median Home Value
Median Rent
Median Income
Madison, SD Costs By Category
Detailed Madison Services Costs Vs. South Dakota
| Item | Madison | South Dakota |
|---|---|---|
| Shampoo | $1.29 | $1.28 |
| Movie | $9.36 | $12.13 |
| Bowling | $16.4 | $18 |
| Haircut | $24.32 | $24.26 |
| Beauty Salon | $35.22 | $45.56 |
Detailed Madison Groceries Costs Vs. South Dakota
| Item | Madison | South Dakota |
|---|---|---|
| Ground Beef | $5.89 | $5.84 |
| Fried Chicken | $1.41 | $1.57 |
| Milk | $4.75 | $4.67 |
| Potatoes | $4.63 | $4.93 |
| Pizza | $10.64 | $12.09 |
| Beer | $9.33 | $10.41 |
| Toothpaste | $3.8 | $3.7 |
Detailed Madison Health Costs Vs. South Dakota
| Item | Madison | South Dakota |
|---|---|---|
| Optometrist | $135.1 | $125.68 |
| Doctor | $177.33 | $135.78 |
| Dentist | $108.21 | $113.29 |
Detailed Madison Transportation Costs Vs. South Dakota
| Item | Madison | South Dakota |
|---|---|---|
| Gasoline | $3.28 | $3.46 |
| Tire Balancing | $49.42 | $59.92 |
Detailed Madison Utilities Costs Vs. South Dakota
| Item | Madison | South Dakota |
|---|---|---|
| All Electricity | $141.67 | $193.99 |
| Phone | $194.04 | $192.25 |
Madison SnackAbility
/10
Cost Of Living In Cities Around Madison
The cost of living varies in the cities and towns around Madison. Here's a quick look at the cost of living in the most populous nearby places:
Sioux Falls, SD has a cost of living index of 97, 1.2x Madison.
Brookings, SD has a cost of living index of 94, 1.1x Madison.
Mitchell, SD has a cost of living index of 90, 1.1x Madison.
| City | Population | Cost Of Living | Vs. Madison |
|---|---|---|---|
| Sioux Falls, SD | 197,642 | 97 | 1.2x |
| Brookings, SD | 23,710 | 94 | 1.1x |
| Mitchell, SD | 15,637 | 90 | 1.1x |
| Brandon, SD | 10,996 | 102 | 1.2x |
| Harrisburg, SD | 7,790 | 100 | 1.2x |
| Tea, SD | 6,339 | 98 | 1.2x |
