Madison, NJ, has a higher cost of living compared to the nationwide average. The cost of living index in Madison stands at 120, which is 20% higher than the national average. This increase is largely driven by housing costs, which are 50% higher than the average. Other categories like groceries, utilities, and healthcare also exceed the national average, though by smaller margins.
Madison, NJ, exhibits a higher cost of living compared to the nationwide average, which is set at 100. The housing index in Madison stands at 150, indicating that housing costs are 50% higher than the national average. This significant increase suggests that potential residents should budget more for rent or mortgage payments.
Other expenses in Madison also surpass the national average. For instance, groceries cost 10% more, with an index of 110. Utilities and healthcare follow closely, each at 10% above the average, with indices of 110 and 120, respectively. Transportation costs are slightly higher, at 5% above the average, with an index of 105. Miscellaneous expenses, such as entertainment and personal care, are also 15% higher, with an index of 115. Overall, Madison's cost of living is notably higher across various categories, making it essential for job seekers to consider these factors when planning their move.
