salaryRent is higher than in 66% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Most homes (94.3%) are owned, so rentals can be hard to find. It is a highly educated city: 64.2% of adults have a college degree.
How much money do I need?
To rent here comfortably, you should earn about $78,000 a year. That is $38 an hour at a full-time job.
Is rent cheaper than other Mississippi cities?
No. Rent here is more expensive than in most of Mississippi. It is number 64 of 66 cities from cheapest to most expensive.
How much do households earn in Madison?
Share of households by yearly income. 48.8% of households earn $100,000 or more.
Rent by apartment size in Madison
| Size | Madison | U.S. average |
|---|---|---|
| 2 bedrooms | $1,525 | $1,509 |
| 3 bedrooms | $2,031 | $1,698 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Madison overall?
Everyday prices in Mississippi overall are 13% below the U.S. average (index 87.0, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Madison, so the Mississippi figure is shown.
Taxes and bills in Madison
Life in Madison
Is it cheaper to rent or buy in Madison?
Renting is cheaper right now: about $499 a month less.
Owning assumes a typical $352,900 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $35,290 for the down payment.
Frequently asked questions
What is the average rent in Madison, MS?
Renting in Madison costs a median of about $1,950 a month in 2026, including utilities. The Mississippi median is $1,187.
How much do I need to make to live in Madison?
To keep rent under 30% of income, you need about $78,000 a year, or $38 an hour at a full-time job.
Is Madison cheap or expensive?
Madison is rated Cheap: rent takes 18.2% of the typical household income of $128,706. It ranks 64th cheapest of 66 Mississippi cities we track.
How much are property taxes in Madison?
The median homeowner in Madison pays $2,569 a year in property taxes, about 0.73% of the median home value.
Is Madison more expensive than the national average?
Overall prices in Mississippi are 13% below the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Madison?
The median home value in Madison is $352,900, about 2.7 times the typical yearly household income.
27,946 people live in Madison. Numbers are typical (middle) values.