Cost of Living in Madison, WV
Housing
The housing market plays a significant role in determining the cost of living in Madison, WV.
- Housing Index: 87.2 / 100
- Median Home Price is: $145,000
- Average Rent (2 BR Apartment): $1190 per month
- Average Rent (2 BR House): $1293 per month
In Madison, WV, the real estate market reflects a unique scenario. With a housing index of 87.2, it suggests a competitive or potentially unstable market, given that the average rent for a two-bedroom apartment and house is currently set to 1190 and 1293, respectively. Interestingly, despite the modest median home price of 145000, potential movers should consider factors such as local economic conditions, schools, and community amenities, which play crucial roles in the long-term value of your investment. Opt wisely!
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Madison, WV.
- Electricity Price: $15.48 USD (median by state)
- Natural Gas Price: $23.05 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $206 per month
Living in Madison, WV could entail higher utility costs. Electricity costs sit at $15.48, while natural gas is priced at $23.05 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $206 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Madison is a financially viable option for your relocation.