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 88.
The standard of living in Madison ranks as #67 most affordable out of the 67 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:
Madison Cost Of Living Vs. Mississippi
Six factors go into calculating the cost of living index in Madison. Here is how it fares on each of the criteria:
The Services index in Madison is 96.
The Groceries index in Madison is 91.
The Health index in Madison is 153.
The Housing index in Madison is 91.
The Transportation index in Madison is 95.
The Utilities index in Madison is 88.
| Living Expense | Madison | Mississippi | National Average |
|---|---|---|---|
| Overall | 112 | 88 | 100 |
| Services | 96 | 99 | 100 |
| Groceries | 91 | 97 | 100 |
| Health | 153 | 63 | 100 |
| Housing | 91 | 94 | 100 |
| Transportation | 95 | 97 | 100 |
| Utilities | 88 | 93 | 100 |
Madison Cost Of Living Compared To Mississippi Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around Mississippi, check out:
- Most Expensive Cities In Mississippi
- Most Affordable Cities In Mississippi
- Average Rent In Mississippi
Source: Cost-of-living index 2026, normalized to US average = 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 2020-2024. The key points are:
The Median Home Value in Madison is $410,431.
The Median Rent in Madison is $1,853.
The Median Income in Madison is $119,338.
The Home Value To Income in Madison is 3.4x.
The Rent To Monthly Income in Madison is 0.19x.
| Statistic | Madison | Mississippi | United States |
|---|---|---|---|
| Median Home Value | $410,431 | $192,906 | $332,700 |
| Median Rent | $1,853 | $954 | $1,413 |
| Median Income | $119,338 | $56,447 | $80,734 |
| Home Value To Income | 3.4x | 3.4x | 4.1x |
| Rent To Monthly Income | 0.19x | 0.2x | 0.21x |
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
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 86, 0.8x Madison.
Pearl, MS has a cost of living index of 89, 0.8x Madison.
Clinton, MS has a cost of living index of 94, 0.8x Madison.
| City | Population | Cost Of Living | Vs. Madison |
|---|---|---|---|
| Jackson, MS | 146,631 | 86 | 0.8x |
| Pearl, MS | 27,737 | 89 | 0.8x |
| Clinton, MS | 27,195 | 94 | 0.8x |
| Brandon, MS | 25,542 | 99 | 0.9x |
| Ridgeland, MS | 24,587 | 100 | 0.9x |
| Canton, MS | 10,811 | 84 | 0.8x |
| Flowood, MS | 10,587 | 101 | 0.9x |
| Richland, MS | 7,346 | 90 | 0.8x |
