Can I Afford to Live in Madison vs New York on $120K?
Here's how a $120K/year salary plays out in both cities after taxes, rent, and core living expenses — based on Q1 2026 data.
Monthly budget breakdown
| Expense | Madison WI | New York NY |
|---|---|---|
| Monthly take-home (est.) | $6,385 | $6,465 |
| 1BR rent | $1,650 | $3,500 |
| Groceries (est.) | $384 | $437 |
| Transport (est.) | $62 | $132 |
| Utilities | $162 | $180 |
| Internet | $63 | $75 |
| Left after essentials | $4,064/month | $2,141/month |
Frequently asked questions
Is $120K a good salary in Madison?
At $120K/year in Madison, your estimated monthly take-home is $6,385. With 1BR rent around $1,650/month, rent takes up 26% of your take-home. That's considered comfortable.
Is $120K a good salary in New York?
At $120K/year in New York, your estimated monthly take-home is $6,465. With 1BR rent around $3,500/month, rent takes up 54% of your take-home. That's considered difficult.
Which city is more affordable on a $120K salary?
Madison leaves you with more money after core expenses — $4,064/month vs $2,141/month in New York.
Can I afford to live alone in Madison on $120K?
Yes. At $120K in Madison, rent takes 26% of your take-home, leaving $4,064/month after essentials. Most financial planners recommend keeping rent below 30%.
See the full cost-of-living comparison
Rent, groceries, taxes, transportation, and more — side by side.
Take-home estimates use simplified federal/state brackets and do not account for pre-tax deductions, 401(k), or local taxes. Data: Zillow, BLS, Numbeo · Q1 2026 · For general guidance only