City profile
Madison, WI cost of living
WI · BLS RPP 95.3
Overall RPP
95.3
US = 100
Housing RPP
99
Housing component
Goods RPP
91.7
Goods component
2-BR Rent (HUD)
$1,372/mo
FY2024 FMR
Where Madison, WI sits in the verified metro set
RPP rank
#43 of 67
-4.7 vs U.S. average
Vs median metro
-3.1
median RPP 98.4
2-BR rent rank
#42 of 67
-234/mo vs median verified metro
RPP ranks use only verified ReloMath metro records. Sources: BEA Regional Price Parities by MSA, 2022 (Table 4); HUD FY2024 Fair Market Rents (2-BR); reviewed June 2026. These are official published averages, not neighborhood-level prices.
Who’s moving in and out of Madison, WI
IRS tax-return migration · 2021-2022Cost of living is only half the relocation question. The other half is which way people are actually voting with their feet, straight from IRS tax-return migration for the Madison, WI metro.
Moved in
27,479
people · 18,262 households
Moved out
29,404
people · 19,413 households
Net
−1,925
net loss of residents
Net migration rank
#34 of 65
among IRS-covered ReloMath metros
Vs median net flow
-1,821
median -104 people
Largest flow share
4% in / 5% out
top named county shares
Where new residents came from
- Rock County, WI 1,118
- Milwaukee County, WI 949
- Cook County, IL 926
- Sauk County, WI 922
- Jefferson County, WI 609
Where residents moved to
- Rock County, WI 1,507
- Sauk County, WI 1,113
- Milwaukee County, WI 1,062
- Cook County, IL 845
- Jefferson County, WI 837
Counts are IRS tax filers (returns ≈ households, individuals ≈ exemptions) who changed address between 2021-2022. Flows too small for IRS to disclose are grouped and excluded from the named lists. Source: IRS SOI county-to-county migration data ↗, mapped to metros via the U.S. Census CBSA delineation.
What salary do you need in Madison, WI?
Equivalent salary to maintain the same purchasing power as in a US-average city (RPP 100).
| In US-average city | You need in Madison, WI | Formula |
|---|---|---|
| $50,000 | $47,650 | $50,000 x (95.3/100) |
| $75,000 | $71,475 | $75,000 x (95.3/100) |
| $100,000 | $95,300 | $100,000 x (95.3/100) |
| $125,000 | $119,125 | $125,000 x (95.3/100) |
| $150,000 | $142,950 | $150,000 x (95.3/100) |
| $200,000 | $190,600 | $200,000 x (95.3/100) |
This tool provides estimates only. Equivalent-salary figures are derived from BLS Regional Price Parities (RPP) and HUD Fair Market Rents — they are averages, not guarantees. Actual cost of living varies by neighborhood, lifestyle, and individual circumstances. Not financial advice.
State income tax note
Wisconsin income tax 3.54%-7.65%.
Frequently asked questions
- What is the cost of living in Madison, WI?
- Madison, WI has a BLS Regional Price Parity of 95.3 (US average = 100). It is 4.7% less expensive than the national average.
- What salary do I need to live in Madison, WI?
- If you earn $100,000 in a US-average city (RPP 100), you would need approximately $95,300 in Madison, WI to maintain the same purchasing power.
- What is the average rent in Madison, WI?
- The HUD Fair Market Rent for a 2-bedroom in Madison, WI is approximately $1,372 per month as of FY2024.
- Are people moving to or away from Madison, WI?
- Based on IRS tax-return migration data for 2021-2022, about 27,479 people moved into the Madison, WI metro and 29,404 moved out — a net loss of roughly 1,925 residents. The largest single source of new residents was Rock County, WI.
Curated nearby & similar cities
Similar verified metros by RPP
These links are chosen by data proximity: closest overall RPP to Madison, WI, with HUD 2-BR rent as a tie-breaker.
Curated cost-of-living comparisons for Madison, WI
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