Cost of Living in Madison County, Indiana

$926/mo

Median Monthly Rent

$147,700

Median Home Value

5% above state averageUnaffordable

At a Glance

Median Monthly Rent

$926/mo

5% above state average

Median Home Value

$147,700

48% below national

Rent-to-Income Ratio

28.0%

% of income spent on rent

Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)

Affordability Rating

Unaffordable

Rent over 50% of income

How Madison County Compares

Median monthly rent comparison

Madison County$926/mo

Indiana Average$883/mo

National Median$1,163/mo

Detailed Housing Stats

$926/mo

Median Gross Rent

$147,700

Median Home Value

$850/mo

Monthly Owner Cost

28.0%

Rent-to-Income Ratio

Data Story

About Cost of Living in Madison County, Indiana

Madison County stretches household budgets

Renters allocate 17.7% of income to housing—the second-highest burden in this analysis—despite a median household income of $62,632, well below the national $74,755. Monthly rents of $926 compete with better-earning counties, creating affordability strain.

Above-average housing stress in Indiana

Madison County's 17.7% rent-to-income ratio exceeds Indiana's 15.6% state average, ranking it among the state's most housing-burdened counties. Its $926 median rent is $43 above the state average despite below-average incomes.

Highest strain in a low-income cluster

Madison County's 17.7% rent-to-income ratio exceeds Knox County (15.9%), Lawrence County (14.7%), and LaPorte County (15.8%), despite comparable or lower rents in some neighbors. This mismatch reflects Madison's lower income relative to housing costs.

Housing costs pinch household finances

Renters dedicate 17.7% of income to rent, while homeowners spend roughly 16.3% on mortgages for a median home value of $147,700. Together, these allocations limit discretionary spending compared to regional peers.

Madison County requires careful budgeting

Madison County's 17.7% rent-to-income ratio makes it challenging for income levels near the county median; consider it only with above-median earnings. More affordable options like Lawrence County (14.7%) or Knox County (15.9%) may stretch your budget less.

Affordability Calculator

See how your income compares to housing costs in Madison County

Your Annual Household Income

Rent Burden

17.7%

of gross income

Max Housing (28% Rule)

$1,461

per month

Owner Cost Burden

16.3%

of gross income

You can likely afford the median home in Madison County

Median home value is $147,700. Estimated monthly cost: $1,179 vs. your max of $1,461.

Rent Affordability Guide

Your rent-to-income ratio17.7%

Recommended max30.0%

Frequently Asked Questions

What is the cost of living in Madison County, Indiana?

Madison County, Indiana has a median monthly rent of $926/mo and a median home value of $147,700. The affordability rating is Unaffordable, with rent making up approximately 28.0% of median household income.

What is the median rent in Madison County?

The median gross rent in Madison County is $926/mo. This is 5% above state average for Indiana.

Is Madison County affordable?

Madison County is rated Unaffordable based on rent-to-income ratio of 28.0%. Spending over 50% of income on rent is generally considered unaffordable.

How does Madison County's rent compare to the state average?

Madison County's median rent of $926/mo is 5% above state average of $883/mo for Indiana.

What is the median home value in Madison County?

The median home value in Madison County, Indiana is $147,700. This is 48% below the national median home value of $281,900.