Cost of Living
With a balanced mix of urban sophistication and great small communities, the Madison Region is among the more affordable major markets in the Midwest. While cost of living varies by municipality within the region, our overall cost of living falls in line with the national average, ranking well below Milwaukee, Minneapolis, and Chicago in Kiplinger’s 2010 Best Cities index.
The average home-owning household in the greater Madison area spent 25.2% of income on mortgage costs in 2008, a figure comparable with the national average. This part of Wisconsin offers a variety of housing options, including new and existing neighborhoods in our suburbs and rural communities, as well as luxury condominiums in our major downtown areas.
Many of the region’s services that contribute to our high quality of life are funded through property tax, which average at 4.6% of income. Sales tax in all eight counties is 5.5%. Vehicle taxes are not assessed in Wisconsin.
The Madison Region offers easy, affordable living, making it a prime choice for businesses and employees alike.
Sources: 2010 State of the Madison Region Report, 2011 Advance Now Competitive Assessment, and 2008 American Community Survey