Madison, Mississippi is a medium-sized city with a population of 25,473 people. If we look at the most recent Census, Madison is known to have a predominantly White population. The next two most common races are Black and Asian. Madison has a high percentage of people who are married with children when compared to the rest of the country. In total, more than 86% of the population is classified as married and 54% have kids.
If you’re considering relocating to any new city, it could be a very intimidating task. However, it could also be a good experience if you are willing to get to know the town before actually living in Madison, Mississippi. Using the livability score which includes data from categories like cost of living, weather, education, housing, you can easily compare the best places to live in Madison and also determine if there are any nearby cities that might be a better match for your lifestyle. You can also compare Madison to Mississippi and the national average.
The livability score in Madison is 79/100 and the city is ranked in the 92nd percentile of all cities across America. Based on this score, Madison would be considered a very livable city! Another exciting tidbit, is that Madison ranks better than 90% of all US cities! If we probe a little deeper into each category within the livability score, we see that Madison has higher than average grades for the following: amenities (A), crime (A+), weather (B) and employment (A-). There is at least one category that does not have great scores in Madison. The following was graded with a disappointing score: cost of living (D-) and housing (F).
Location, location, location - possibly the three most important words in your search for a new place to live. Fortunately, in Madison, there is no shortage of amazing local amenities and interesting things to do.
Feeling a sense of safety in the area that you live in is a must for most people. Low crime rates can have a positive impact on things like home prices, home appreciation rates and the overall sense of community. Madison has a violent crime rate of 42 crimes per 100,000 residents which is far lower than the national average.
Certain items on your wish list like shopping, restaurants, nightlife and proximity to public transportation are all important factors to search for. Having said that, perhaps the most important metric to consider when contemplating a move to Madison is real estate affordability. Median real estate prices in Madison come in at $243,500, which is 130.4% higher than the Mississippi average. The home price to income ratio compares the median home prices to the median household income. In Madison, the home price to income ratio is 2.4, which is 7.7% lower than the Mississippi average. For most people, purchasing a new home is the biggest investment they will make in their lifetime. Taking a look at overall real estate appreciation rates in Madison will offer some insight into determining if your home purchase will be a solid investment for years to come. In Madison, the year-over-year appreciation rates were 2%, and the 5 year appreciation rates came in at 1.7%.
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