Madison, MS Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

Cost Of Living In Madison, MS Summary

Cost of living in Madison research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Madison is expensive. An index value below 100 means the city is a relatively cheap place to live.

On a city-by-city basis in Mississippi, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:

  • The cost of living index in Madison is 107, with 100 being the average.

  • The cost of living index in Madison is 1.1x higher than the national average.

  • Madison ranks as the #69 cheapest in Mississippi out of 69.

  • Madison ranks as the #3,867 cheapest out of 6,412 in the US.

  • The median home value in Madison is $282,600.

  • The median income in Madison is $119,662.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
107
Madison's Overall Cost Of Living
1.1x
Higher Than The National Average

What is the cost of living in Madison, MS?

According to the most recent data on the cost of living, Madison has an overall cost of living index of 107, which is 1.1x higher than the national index of 100.

Compared to Mississippi, Madison has a cost of living index that's 1.2x higher than Mississippi's index of 86.

The standard of living in Madison ranks as #69 most affordable out of the 69 places we measured in Mississippi. By definition, that implies Madison ranks as the #0 most expensive place in the Magnolia State.

For more reading on life in Madison, check out:

69 out of 69
In Mississippi
3,867 out of 6,412
In America

Madison Cost Of Living Vs. Mississippi

Six factors go into calculating the cost of living index in Madison. Here is how it fairs on each of the criteria:

  • The Services index in Madison is 97.

  • The Groceries index in Madison is 90.

  • The Health index in Madison is 90.

  • The Housing index in Madison is 140.

  • The Transportation index in Madison is 88.

  • The Utilities index in Madison is 102.

Living Expense Madison Mississippi National Average
Overall 107 86 100
Services 97 92 100
Groceries 90 94 100
Health 90 98 100
Housing 140 69 100
Transportation 88 91 100
Utilities 102 87 100
For more reading on cost of living around Mississippi, check out:
Madison Cost of Living Vs. MS

Madison, MS Housing Cost Breakdown

Housing swings affordability the most between places in Mississippi, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:

  • The Median Home Value in Madison is $282,600.

  • The Median Rent in Madison is $1,628.

  • The Median Income in Madison is $119,662.

  • The Home Value To Income in Madison is 2.4x.

  • The Rent To Monthly Income in Madison is 0.16x.

Statistic Madison Mississippi United States
Median Home Value $282,600 $133,000 $244,900
Median Rent $1,628 $830 $1,163
Median Income $119,662 $49,111 $69,021
Home Value To Income 2.4x 2.7x 3.5x
Rent To Monthly Income 0.16x 0.2x 0.2x
Search Homes For Sale In Madison, MS
$282,600
Median Home Value
$1,628
Median Rent
$119,662
Median Income

Madison, MS Costs By Category

Detailed Madison Services Costs Vs. Mississippi

Item Madison Mississippi
Shampoo $0.76 $1.06
Movie $9.08 $10.68
Bowling $7.08 $14.67
Haircut $13.32 $18.62
Beauty Salon $23.38 $39.05

Detailed Madison Groceries Costs Vs. Mississippi

Item Madison Mississippi
Ground Beef $5.35 $4.22
Fried Chicken $1.05 $1.39
Milk $1.78 $2.05
Potatoes $2.36 $3.29
Pizza $9.32 $10.62
Beer $9.72 $9.38
Toothpaste $3.06 $2.34

Detailed Madison Health Costs Vs. Mississippi

Item Madison Mississippi
Optometrist $83.0 $108.57
Doctor $90.5 $116.17
Dentist $86.63 $99.13

Detailed Madison Transportation Costs Vs. Mississippi

Item Madison Mississippi
Gasoline $2.01 $2.22
Tire Balancing $37.66 $50.07

Detailed Madison Utilities Costs Vs. Mississippi

Item Madison Mississippi
All Electricity $122.36 $167.67
Phone $40.59 $175.64

Madison SnackAbility

7.5
/10
Overall SnackAbility
Jobs
9/10
Housing
9
Affordability
8.5
Diversity
8
Safety
N/A
Amenities
8
Education
9.5
Commute
8

Cost Of Living In Cities Around Madison

The cost of living varies in the cities and towns around Madison. Here's a quick look at the cost of living in the most populous nearby places:

  • Jackson, MS has a cost of living index of 83, 0.8x Madison.

  • Clinton, MS has a cost of living index of 93, 0.9x Madison.

  • Pearl, MS has a cost of living index of 88, 0.8x Madison.

City Population Cost Of Living Vs. Madison
Jackson, MS 156,803 83 0.8x
Clinton, MS 27,830 93 0.9x
Pearl, MS 27,017 88 0.8x
Brandon, MS 24,887 95 0.9x
Ridgeland, MS 24,330 95 0.9x
Canton, MS 10,955 88 0.8x
Flowood, MS 10,019 94 0.9x
Richland, MS 7,126 89 0.8x

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