Salary Needed to Live in Madison as a Family
A family of four (2 adults, 2 children) needs approximately $60,244/year to live comfortably in Madison, WI — including 15% savings.
Comfortable Salary
$60,244
with 15% savings
Bare Minimum
$48,032
no savings buffer
Monthly Expenses
$2,962
1% above national avg
Detailed Monthly Budget for a Family in Madison
| Expense | Madison | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 3BR Apartment/House Rent | $213 | $209 | +2% |
| 🛒 Groceries | $63 | $44 | +43% |
| ⚡ Utilities | $20 | $28 | -29% |
| 🚗 Transportation | $49 | $44 | +11% |
| 🛡️ Car Insurance | $144 | $211 | -32% |
| 🏥 Health Insurance | $50 | $53 | -6% |
| Childcare/After-school | $1,248 | $1,200 | +4% |
| Internet + Phones | $187 | $180 | +4% |
| Children Activities | $260 | $250 | +4% |
| Dining Out | $364 | $350 | +4% |
| School Supplies & Clothing | $208 | $200 | +4% |
| Healthcare Co-pays | $156 | $150 | +4% |
| Total Monthly | $2,962 | $2,919 | +1% |
How We Calculated the Salary
Monthly expenses:$2,962
Target savings (15%):$656/mo
Monthly after-tax needed:$3,618
Effective tax rate:26%
Gross annual salary needed:$60,244
Other Household Types in Madison
Related Pages
FAQ
What salary does a family with kids need in Madison?
A family with kids needs approximately $60,244/year ($5,020/month gross) to live comfortably in Madison with a 15% savings rate.
How much is rent for a family with kids in Madison?
A 3br apartment/house in Madison costs approximately $213/month, which is the largest single expense at 7% of the total budget.
Is Madison affordable for a family with kids?
Madison is roughly average for family with kids costs, requiring a salary close to the national median.