Cost of Living in Madison, MS
Population: 27,775 • 2026 Data
$120,918
Median Household Income
+56% vs national
$1,798
Median Monthly Rent
+33% vs national
$334,700
Median Home Value
-1% vs national
3.2%
Unemployment Rate
Housing in Madison
The median home value in Madison, MS is $334,700. Monthly rent for a typical unit averages $1,798, while total monthly housing costs (including utilities and insurance) average $1,606.
Rent-to-income ratio: 17.8%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Madison, MS is $120,918. The unemployment rate stands at 3.2%, with a labor force of 13,855 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.