Cost of Living in Madison County, Indiana
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 #2,383 of 3,144 counties for affordability (bottom 24%)
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.
Cost of Living Advisory: Madison County
Affordability Verdict
Housing in Madison County is affordable. The median rent is $926/month against a median household income of $62,632, putting rent at 17.7% of income.
Rent vs. Own
At $926/month rent versus $850/month in owner costs, owning is roughly $76/month cheaper — a 8% difference.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $37,040/year. For owner costs at the 28% rule, the required income is roughly $36,429/year. With a median household income of $62,632, most households can comfortably afford rent here. Notably, 28.0% of renter households in Madison County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Madison County sits 6% more expensive than Carroll County ($874/month) in terms of median gross rent.
Affordability Calculator
See how your income compares to housing costs in Madison County
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
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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