Cost of Living in Madison, MS
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
168.1
100 = national avg
+68.1 vs national average
Living Wage (1 Adult)
$73,949
per year
Living Wage (Family of 4)
$174,789
per year
Cost Index by Category
Housing181.9
Food142.4
Transportation184.8
Healthcare133.9
Utilities141.8
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,097
per month
2 Bedroom
$1,288
per month
The overall cost of living index in Madison is 168.1, which is 68.1% above the national average. Housing costs are above the national average at an index of 181.9. A single adult needs to earn approximately $73,949 per year to cover basic expenses.