Stretched

What Salary Do You Need to Live in Madison?

To afford a 2-bedroom in Madison, you need to earn at least $47,520/year based on estimated fair market rent data. The median household income here is $39,695, which means the typical resident is $7,825 below the threshold.

Census ACS Data Pop. 2,100

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$832	$2,773	$33,280	$-6,415
1 Bedroom	$986	$3,287	$39,440	$-255
2 Bedroom BENCHMARK	$1,188	$3,960	$47,520	+$7,825
3 Bedroom	$1,449	$4,830	$57,960	+$18,265
4 Bedroom	$1,782	$5,940	$71,280	+$31,585

Affordability Breakdown

Where the required salary line crosses above Madison's median income — housing becomes unaffordable for the typical resident.

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$39,695

Annual household

2BR Required Salary

$47,520

Under 30% rule

Income Gap

-$7,825

Deficit

Verdict

Stretched

Ratio: 35.9%

The 30% Rule Calculator

Enter your annual salary to see what you can afford in Madison

Your Annual Salary

Pre-filled with Madison's median household income

Max monthly rent you can afford$992

Studio

$832/mo

1 BR

$986/mo

2 BR

$1,188/mo

3 BR

$1,449/mo

4 BR

$1,782/mo

Your salary is $0 above the median income in Madison.

Salary Comparison by Bedroom

Bars left of the marker line are affordable for Madison's median earner. Bars to the right require above-median income.

Affordable Above Median Median Income

What This Means If You're Moving to Madison

Madison's rental market puts real pressure on median earners. A 2-bedroom at $1,188/month requires $47,520/year — about $7,825 more than the median household income. Roommates or dual incomes significantly change the equation.

If you're relocating to Madison, target the studio or 1-bedroom tier ($832–$986/month) unless your income exceeds $47,520. A roommate splitting a 2-bedroom effectively halves the individual rent burden to $594/month.

The break-even salary for comfortable living in Madison is approximately $71,280. Below this threshold, expect housing to consume a disproportionate share of your budget, limiting discretionary spending and savings capacity.

Economic Outlook

Local Job Market & Housing Dynamics

Affording rent isn't just about housing prices—it's heavily dependent on local employment opportunities and the strength of the job market in Madison, Maine.

With a total population of 2,100, the city supports an active civilian workforce of 1,061 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $47,520 annual salary. The ratio of employed residents to the total population provides insight into the local economic health and competition for both jobs and housing.

Employed Workforce

1,061

Active civilian employees in Madison

Frequently Asked Questions About Renting in Madison

What salary do I need to live in Madison, Maine?

To afford a 2-bedroom in Madison under the 30% rule, you need an annual salary of at least $47,520. The median household income in Madison is $39,695.

Can I afford a 2-bedroom in Madison on $39,695?

The affordability verdict for Madison is "Stretched". The rent-to-income ratio is 35.9%, meaning there's a $7,825 income gap.

What is the average rent in Madison compared to median income?

The median gross rent in Madison is $986/month. With a median household income of $39,695, residents spend approximately 35.9% of their income on rent.

What salary do I need for a studio in Madison?

A studio in Madison rents for approximately $832/month. Under the 30% rule, you need an annual salary of $33,280 to afford this.

Is Madison considered an affordable place to live?

Based on the deficit of $7,825 and an affordability verdict of "Stretched", Madison is considered a stretched rental market when comparing the required 2-bedroom salary of $47,520 to the local median household income.

How Madison Compares

Other cities in Maine with salary requirements