Balaton, MN vs Madison, MN

Balaton, MN and Madison, MN have a very similar cost of living, with only a 4.7% difference in their overall index. Balaton scores 73 while Madison scores 70 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Balaton is $1,081/month compared to $920/month in Madison — a 18% difference. Interestingly, home values tell a different story: while Madison has cheaper rent, Balaton actually has lower median home values ($85,000 vs $104,600).

Median household income in Balaton is $54,091 compared to $56,435 in Madison (-4.2%). Madison offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Balaton spend roughly 24% of their income on rent, more than the 19.6% in Madison.