Cost of living in Madison
Madison, the capital city of Wisconsin, is known for its vibrant culture and beautiful lakes. Understanding the cost of living in Madison is crucial for anyone considering moving to or living in the city.
This guide provides a detailed breakdown of expenses, including housing, transportation, groceries, and more, to help you plan your budget effectively.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $15 on average, with a range between $10 and $20.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $75, with prices ranging from $50 to $125.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $10.5, with a range between $9 and $14.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $4 to $8, imported beer $6 to $8, cappuccino $3 to $6, and Coke/Pepsi $2 to $3.
Grocery Prices
- Milk - Milk is priced between $0.71 and $1.16 per liter, averaging $0.96.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $1.97 and $7.72, with an average price of $4.
- Eggs (Dozen) - A dozen eggs range from $1.7 to $6, averaging $3.33.
- Fruits (e.g., Apples, Oranges) - Apples cost $2.62 to $8.8 per kg, while oranges range from $1.52 to $12.5 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $1.52 and $3.51 per kg, and lettuce costs $1.3 to $2.5 per head.
Transportation
- Public Transport (One-Way Ticket) - A one-way local transport ticket costs between $2 and $2.25, with a monthly pass priced between $40 and $65.
- Fuel (Gasoline) - Gasoline is priced between $0.74 and $1.03 per liter.
- Taxi Fares - Taxi fares start at $4.5, with a cost of $2.17 per km and $42 per hour of waiting.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre ranges from $1200 to $2100, averaging $1679.17.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $1200 to $1500, averaging $1374.62.
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre ranges from $2600 to $4000, averaging $3115.
- 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $2000 to $3000, averaging $2316.67.
- Buying Price per Square Meter (City Centre) - The price per square meter to buy an apartment in the city centre ranges from $2690.98 to $5920.15, averaging $3459.83.
- Buying Price per Square Meter (Outside Centre) - Outside the centre, the price per square meter ranges from $2368.06 to $2497, averaging $2411.04.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $129 and $265, averaging $196.44.
- Internet - Internet services range from $50 to $95, with an average cost of $71.56.
Cost of Living Rankings
Madison ranks 29th on the Cost of Living rankings in United States. The cost of living indices for the United States are compared to New York City (NYC), which serves as the baseline with an index of 100. These provide insights into the relative cost of living in different cities in United States, covering factors like consumer goods, rent, and purchasing power.
Cost of Living Data
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"Key Takeaways"
Madison offers a moderate cost of living with reasonable housing and dining expenses. While some areas like dining out and utilities can be on the higher side, transportation and grocery costs remain relatively affordable.
Prospective residents should consider the balance between housing costs and the quality of life offered by the city, as well as potential savings on transportation by utilizing public transit options.
Conclusion
In conclusion, Madison, WI, presents a balanced cost of living with various options for housing, dining, and transportation. The city offers a vibrant lifestyle with reasonable expenses, making it an attractive place for both individuals and families.
Understanding these costs can help potential residents make informed decisions about relocating to Madison, ensuring a comfortable and financially sustainable living experience.