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 86, which is 0.9x lower than the national index of 100.
Compared to South Dakota, Madison has a cost of living index that's 0.9x lower than South Dakota's index of 91.
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:
Madison Cost Of Living Vs. South Dakota
Six factors go into calculating the cost of living index in Madison. Here is how it fares on each of the criteria:
The Services index in Madison is 96.
The Groceries index in Madison is 97.
The Health index in Madison is 68.
The Housing index in Madison is 91.
The Transportation index in Madison is 105.
The Utilities index in Madison is 93.
| Living Expense | Madison | South Dakota | National Average |
|---|---|---|---|
| Overall | 86 | 91 | 100 |
| Services | 96 | 98 | 100 |
| Groceries | 97 | 97 | 100 |
| Health | 68 | 77 | 100 |
| Housing | 91 | 98 | 100 |
| Transportation | 105 | 102 | 100 |
| Utilities | 93 | 93 | 100 |
Madison Cost Of Living Compared To South Dakota Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around South Dakota, check out:
- Most Expensive Cities In South Dakota
- Most Affordable Cities In South Dakota
- Average Rent In South Dakota
Source: Cost-of-living index 2026, normalized to US average = 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 2020-2024. The key points are:
The Median Home Value in Madison is $263,104.
The Median Rent in Madison is $981.
The Median Income in Madison is $65,593.
The Home Value To Income in Madison is 4.0x.
The Rent To Monthly Income in Madison is 0.18x.
| Statistic | Madison | South Dakota | United States |
|---|---|---|---|
| Median Home Value | $263,104 | $317,148 | $332,700 |
| Median Rent | $981 | $946 | $1,413 |
| Median Income | $65,593 | $75,081 | $80,734 |
| Home Value To Income | 4.0x | 4.2x | 4.1x |
| Rent To Monthly Income | 0.18x | 0.15x | 0.21x |
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
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 99, 1.2x Madison.
Brookings, SD has a cost of living index of 98, 1.1x Madison.
Mitchell, SD has a cost of living index of 93, 1.1x Madison.
| City | Population | Cost Of Living | Vs. Madison |
|---|---|---|---|
| Sioux Falls, SD | 201,469 | 99 | 1.2x |
| Brookings, SD | 23,948 | 98 | 1.1x |
| Mitchell, SD | 15,649 | 93 | 1.1x |
| Brandon, SD | 10,996 | 102 | 1.2x |
| Harrisburg, SD | 8,519 | 100 | 1.2x |
| Tea, SD | 6,786 | 102 | 1.2x |
