Madison cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
Cost of living index10784100
Goods & Services index9594100
Groceries index8994100
Health care index8991100
Housing index13963100
Transportation index8790100
Utilities index10495100
A general overview of the cost of living index for Madison, MS is displayed above. In Madison, MS, the overall cost of living index is 107, which is 28% higher than the Mississippi average and 7% higher than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Madison, MS, the city's goods and services are 2% higher than the Mississippi average and 5% lower than the U.S. average.
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Did you know?

  • The cost of living in Madison is 28% higher than the Mississippi average.
  • The cost of living in Madison is 7% higher than the national average.
  • The cost of housing in Madison is 39% higher than the national average.
  • Mississippi general sales tax is 37% higher than the national average.
  • Mississippi state income tax is 35% higher than the national average.

Compare Madison, MS Cost of living To Other Cities


      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index
      The salary calculator is used in order to provide a comparison of your current salary in Madison, MS to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Madison, MS, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Madison, MS salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

      Median Income & Debt-To-Income Ratio

      Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      One can approximate the cost of living and the housing affordability in Madison, MS by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Madison, MS have a median income of $105,243. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,456 per month to avoid calamity and poverty. The renters in the city have an income of about $60,550, which would make their monthly maximum allowable rental costs $1,413.

      Mississippi Sales Tax

      StateGeneral Sales TaxWith Max Surtax

      Mississippi Income Tax

      StateIncome Tax (Low)Income Tax (High)
      When considering the overall cost of living expenses in Madison, MS, it's important to take into account the sales tax for Mississippi, as well as the rate for income tax in Mississippi. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Mississippi is 7.25%, and the sales tax in the state of Mississippi is 7%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Mississippi starts from 3% and goes up to 5%.

      Goods & Services

      ItemMadisonNational avg.Difference
      Haircut $13.32$17.4923.9%
      Beauty Salon $23.38$38.1738.8%
      Toothpaste $3.06$2.3231.8%
      Shampoo $0.76$1.0125.2%
      Movie $9.08$10.7215.3%
      Bowling $7.08$13.8648.9%


      ItemMadisonNational avg.Difference
      Ground Beef $5.35$3.9037.1%
      Fried Chicken $1.05$1.4024.8%
      Milk $1.78$1.969.3%
      Potatoes $2.36$3.1825.9%
      Pizza $9.32$10.3910.3%
      Beer $9.72$9.235.4%

      Health Care

      ItemMadisonNational avg.Difference
      Optometrist $83.00$106.3421.9%
      Doctor $90.50$115.2521.5%
      Dentist $86.63$98.3811.9%
      Ibuprofen $7.97$9.2613.9%
      Lipitor $390.75$466.4716.2%


      ItemMadisonNational avg.Difference
      Home Price $243,500.00$184,700.0031.8%
      Avg. Mortgage Payment $942.41$1,273.3226.0%
      Apartment Rent $1,492.00$949.0057.2%


      ItemMadisonNational avg.Difference
      Gasoline $2.01$2.5922.5%
      Tire Balancing $37.66$48.9023.0%


      ItemMadisonNational avg.Difference
      All Electricity$122.36$167.6027.0%
      Phone $40.59$163.4275.2%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City, StatePopulationCost of Living IndexNational Avg.
      Bentonia, MS45478-22%
      Jackson, MS172,03983-17%
      Kearney Park, MS1,40584-16%
      Flora, MS2,05886-14%
      Pearl, MS26,34486-14%
      Madison, MS25,4731077%

      Cities with similar population

      City, StatePopulationCost of Living IndexNational Avg.
      Zanesville, OH25,46782-18%
      Reading, MA25,49015050%
      Burlington, IA25,49282-18%
      Oakleaf Plantation, FL25,4471000%
      Alvin, TX25,50090-10%
      Madison, MS25,4731077%
      Source: The Madison, MS cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.