New Madison, OH vs Richwood, OH

New Madison is moderately more affordable than Richwood, with a 8.5% lower cost of living index. New Madison scores 67 compared to 73 for Richwood, where the US average is 100. This difference means residents of Richwood can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in New Madison is $850/month compared to $876/month in Richwood — a 3% difference. Home values follow the same pattern: New Madison is more affordable at $107,800 median vs $161,500.

Median household income in New Madison is $64,688 compared to $52,422 in Richwood (+23.4%). New 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 New Madison spend roughly 15.8% of their income on rent, less than the 20.1% in Richwood.