Madison, MS Cost Of Living
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 112, with 100 being the average.
The cost of living index in Madison is 1.1x higher than the national average.
Madison ranks as the #68 cheapest in Mississippi out of 68.
Madison ranks as the #3,863 cheapest out of 6,489 in the US.
The median home value in Madison is $408,413.
The median income in Madison is $120,918.
Table Of Contents
Madison's Overall Cost Of Living
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 112, which is 1.1x higher than the national index of 100.
Compared to Mississippi, Madison has a cost of living index that's 1.3x higher than Mississippi's index of 84.
The standard of living in Madison ranks as #68 most affordable out of the 68 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:
In Mississippi
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 95.
The Groceries index in Madison is 101.
The Health index in Madison is 100.
The Housing index in Madison is 154.
The Transportation index in Madison is 83.
The Utilities index in Madison is 82.
| Living Expense | Madison | Mississippi | National Average | |
|---|---|---|---|---|
| Overall | 112 | 84 | 100 | |
| Services | 95 | 90 | 100 | |
| Groceries | 101 | 95 | 100 | |
| Health | 100 | 96 | 100 | |
| Housing | 154 | 63 | 100 | |
| Transportation | 83 | 90 | 100 | |
| Utilities | 82 | 85 | 100 | |
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 2019-2023. The key points are:
The Median Home Value in Madison is $408,413.
The Median Rent in Madison is $1,798.
The Median Income in Madison is $120,918.
The Home Value To Income in Madison is 3.4x.
The Rent To Monthly Income in Madison is 0.18x.
| Statistic | Madison | Mississippi | United States |
|---|---|---|---|
| Median Home Value | $408,413 | $188,640 | $303,400 |
| Median Rent | $1,798 | $923 | $1,348 |
| Median Income | $120,918 | $54,915 | $78,538 |
| Home Value To Income | 3.4x | 3.4x | 3.9x |
| Rent To Monthly Income | 0.18x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Madison, MS Costs By Category
Detailed Madison Services Costs Vs. Mississippi
| Item | Madison | Mississippi |
|---|---|---|
| Shampoo | $1.24 | $1.28 |
| Movie | $13.59 | $12.13 |
| Bowling | $20.0 | $18 |
| Haircut | $22.5 | $24.26 |
| Beauty Salon | $41.67 | $45.56 |
Detailed Madison Groceries Costs Vs. Mississippi
| Item | Madison | Mississippi |
|---|---|---|
| Ground Beef | $6.19 | $5.84 |
| Fried Chicken | $1.67 | $1.57 |
| Milk | $4.64 | $4.67 |
| Potatoes | $5.1 | $4.93 |
| Pizza | $12.66 | $12.09 |
| Beer | $9.66 | $10.41 |
| Toothpaste | $3.62 | $3.7 |
Detailed Madison Health Costs Vs. Mississippi
| Item | Madison | Mississippi |
|---|---|---|
| Optometrist | $106.25 | $125.68 |
| Doctor | $134.71 | $135.78 |
| Dentist | $121.33 | $113.29 |
Detailed Madison Transportation Costs Vs. Mississippi
| Item | Madison | Mississippi |
|---|---|---|
| Gasoline | $3.02 | $3.46 |
| Tire Balancing | $38.33 | $59.92 |
Detailed Madison Utilities Costs Vs. Mississippi
| Item | Madison | Mississippi |
|---|---|---|
| All Electricity | $141.59 | $193.99 |
| Phone | $187.62 | $192.25 |
Madison SnackAbility
/10
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, 0.7x Madison.
Pearl, MS has a cost of living index of 89, 0.8x Madison.
Clinton, MS has a cost of living index of 92, 0.8x Madison.
| City | Population | Cost Of Living | Vs. Madison |
|---|---|---|---|
| Jackson, MS | 149,827 | 83 | 0.7x |
| Pearl, MS | 27,458 | 89 | 0.8x |
| Clinton, MS | 27,418 | 92 | 0.8x |
| Brandon, MS | 25,352 | 96 | 0.9x |
| Ridgeland, MS | 24,548 | 98 | 0.9x |
| Canton, MS | 10,863 | 83 | 0.7x |
| Flowood, MS | 10,384 | 96 | 0.9x |
| Richland, MS | 7,250 | 88 | 0.8x |
