Chicago-Naperville-Elgin vs Madison
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Madison is 18% cheaper for renters. A 2-bedroom rents for $1,038/mo vs $1,222/mo in Chicago-Naperville-Elgin — saving $2,208/year.
Rent by Unit Size
| Unit Size | Chicago-Naperville-Elgin | Madison | Difference |
|---|---|---|---|
| Studio | $849 | $676 | $173 |
| 1 Bedroom | $1,023 | $827 | $196 |
| 2 Bedrooms | $1,222 | $1,038 | $184 |
| 3 Bedrooms | $1,528 | $1,222 | $306 |
| 4 Bedrooms | $1,886 | $1,400 | $486 |
| Median Income | $79,852 | $64,691 | $15,161 |
Chicago-Naperville-Elgin
- Studio
- $849/mo
- 1 BR
- $1,023/mo
- 2 BR
- $1,222/mo
- 3 BR
- $1,528/mo
- 4 BR
- $1,886/mo
- Median Income
- $79,852/yr
Madison
- Studio
- $676/mo
- 1 BR
- $827/mo
- 2 BR
- $1,038/mo
- 3 BR
- $1,222/mo
- 4 BR
- $1,400/mo
- Median Income
- $64,691/yr
Frequently Asked Questions
Is Chicago-Naperville-Elgin or Madison cheaper to rent in?
Madison is cheaper — a 2-bedroom Fair Market Rent is $1,038/mo vs $1,222/mo in Chicago-Naperville-Elgin. That's $184/mo or $2,208/year more expensive in Chicago-Naperville-Elgin (18% higher).
What is the 2-bedroom rent in Chicago-Naperville-Elgin vs Madison?
The HUD Fair Market Rent for a 2-bedroom in Chicago-Naperville-Elgin is $1,222/month. In Madison, a 2-bedroom FMR is $1,038/month.
How do incomes compare between Chicago-Naperville-Elgin and Madison?
The median household income in Chicago-Naperville-Elgin is $79,852/year. In Madison it is $64,691/year. Chicago-Naperville-Elgin has the higher median income.
What is the studio rent in Chicago-Naperville-Elgin vs Madison?
A studio apartment Fair Market Rent in Chicago-Naperville-Elgin is $849/mo. In Madison it is $676/mo.