Cost of Living in Madison County, Florida
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Madison County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Madison County ranks #1,554 of 3,144 counties for affordability (top 49%)
Data Story
About Cost of Living in Madison County, Florida
Madison County punches above affordability weight
Madison County's 20.4% rent-to-income ratio sits comfortably below the national average, delivering genuine affordability despite modest household incomes of $48,176. At $819 monthly rent, Madison offers exceptional value for renters seeking low housing costs.
Among Florida's most affordable options
Madison County's 20.4% rent-to-income ratio ranks notably below Florida's average of 22.5%, placing it among the state's most budget-friendly communities. This rural Panhandle county maintains some of Florida's lowest housing costs relative to income.
The rural affordability champion
Madison County's $819 median rent represents the lowest in this region, matching Levy County ($826) while exceeding both in pure affordability ratio terms. With the lowest median household income at $48,176, Madison's renters must be disciplined, but housing costs remain genuinely manageable at 20.4% of earnings.
Modest incomes, modest housing costs
Madison County renters spend $819 monthly (20.4% of income), while homeowners pay $572 for median homes valued at just $105,900. Both groups benefit from exceptionally low housing costs, though modest household incomes ($48,176) require careful overall budgeting beyond housing.
Madison County: maximum affordability, simple life
Madison County delivers Florida's lowest combination of housing costs and home values ($105,900), with renters spending just 20.4% of income on housing. This Panhandle community suits those prioritizing affordability and rural simplicity, though lower household incomes mean overall financial resources remain modest despite housing advantages.
Cost of Living Advisory: Madison County
Affordability Verdict
Madison County is affordable for renters, with a median gross rent of $819/month representing approximately 20.4% of median household income. The rent burden (GRAPI) stands at 30.0%.
Rent vs. Own
At $819/month rent versus $572/month in owner costs, owning is roughly $247/month cheaper — a 30% difference.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $32,760/year. For owner costs at the 28% rule, the required income is roughly $24,514/year. With a median household income of $48,176, most households can comfortably afford rent here. Notably, 30.0% of renter households in Madison County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Florida, Madison County is less affordable than Taylor County by roughly 7% ($819/mo vs $878/mo).
Affordability Calculator
See how your income compares to housing costs in Madison County
Rent Burden
20.4%
of gross income
Max Housing (28% Rule)
$1,124
per month
Owner Cost Burden
14.2%
of gross income
You can likely afford the median home in Madison County
Median home value is $105,900. Estimated monthly cost: $845 vs. your max of $1,124.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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