Cost of Living in Madison, MS
Population 27,775 · Mississippi · Data vintage 2023
(100 = US avg)
Madison lands reasonably close to national benchmarks on most cost indicators, with a median home value of $335,000 — 10% above the US figure. That makes it a useful reference point for comparing with more extreme markets in Mississippi.
Madison sits roughly 12 miles northeast of Jackson — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 209% higher than Jackson's $108,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Madison
The median home value in Madison is $334,700 — 10% above the national median of $305,000. Median rent runs $1,798/month, 37% higher than the national median of $1,314/month. The median household income of $120,918/year is 62% higher than the US median of $74,580. The local unemployment rate is 3.2%, below the national average of 4.8%. Mississippi's top state income tax rate is 4.7% and the combined sales tax is 7.1%. Overall, Madison has a cost of living index of 121 versus the US average of 100, meaning it is 21% more expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
Frequently Asked Questions
What is the cost of living in Madison, MS?
Madison has a cost index of 121 (100 = national average). It is 21% above the national average.
What is average rent in Madison, MS?
The median gross rent in Madison is $1,798 per month based on 2023 Census data.
What is the average home price in Madison?
The median home value in Madison is $334,700 according to Zillow and Census data.
What is the median income in Madison?
The median household income in Madison is $120,918 per year (2023 ACS 5-year estimates).
What is the sales tax in Madison, MS?
The combined state and local sales tax rate in Madison is 7.1%. The Mississippi state income tax top rate is 4.7%.
Is Madison, MS affordable?
Madison is above average in cost of living, with an index of 121 — about 21% higher than the national average.
Madison at a Glance
- Population
- 27,775
- Median Income
- $120,918
- Home Value
- $334,700
- Median Rent
- $1,798/mo
- Unemployment
- 3.2%
- Sales Tax
- 7.1%
Explore county-level cost of living data
Mississippi Rankings
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