Minneapolis-St. Paul-Bloomington, WI vs Madison, WI
A 2-bedroom in Madison costs $15 less per month than Minneapolis-St. Paul-Bloomington ($1,694 vs $1,709). Median income is $98,180 in Minneapolis-St. Paul-Bloomington and $86,827 in Madison. That's a difference of $180 per year in housing costs.
Side-by-Side Comparison
| Metric | Minneapolis-St. Paul-Bloomington | Madison |
|---|---|---|
| Studio FMR | $1,242 | $1,268 |
| 1BR FMR | $1,405 | $1,482 |
| 2BR FMR | $1,709 | $1,694 |
| 3BR FMR | $2,262 | $2,236 |
| 4BR FMR | $2,531 | $2,509 |
| Median Income | $98,180 | $86,827 |
| Rent Burden | 20.9% | 23.4% |
| Actual Median Rent | $1,396 | $1,300 |
| Median Home Value | $354,400 | $344,600 |
| Population | 3.7M | 684K |
| Renter % | 29.1% | 39.2% |
| Vacancy Rate | 4.7% | 4.4% |
| Poverty Rate | 8.2% | 10% |
| YoY Change | +5.4% | +23.5% |
| Min Wage | $7.25/hr | $7.25/hr |
Income Required to Afford a 2-Bedroom
Frequently Asked Questions
Madison, WI is more affordable with a 2BR FMR of $1,694/mo, which is $15 less than Minneapolis-St. Paul-Bloomington at $1,709/mo. However, when considering local incomes, Minneapolis-St. Paul-Bloomington has a rent burden of 20.9% vs 23.4% in Madison.
A 2-bedroom in Minneapolis-St. Paul-Bloomington, WI costs $1,709/mo at Fair Market Rent, while in Madison, WI it's $1,694/mo, a difference of $15/mo or $180/year.
To afford a 2BR without spending more than 30% of income on rent: Minneapolis-St. Paul-Bloomington requires $68,360/year ($33/hr). Madison requires $67,760/year ($33/hr).