Elmwood Place, OH vs New Madison, OH

Elmwood Place is moderately more affordable than New Madison, with a 13.3% lower cost of living index. Elmwood Place scores 58 compared to 67 for New Madison, where the US average is 100. This difference means residents of New Madison can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Elmwood Place is $663/month compared to $850/month in New Madison — a 22% difference. Home values follow the same pattern: Elmwood Place is more affordable at $58,300 median vs $107,800.

Median household income in Elmwood Place is $39,980 compared to $64,688 in New Madison (-38.2%). While New Madison is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Elmwood Place spend roughly 19.9% of their income on rent, more than the 15.8% in New Madison.