Cost of Living in Madison, MS
Housing
The housing market plays a significant role in determining the cost of living in Madison, MS.
- Housing Index: 110.0 / 100
- Median Home Price is: $281,000
- Average Rent (2 BR Apartment): $1200 per month
- Average Rent (2 BR House): $1280 per month
Considering a move to Madison, MS? The housing index stands at 110.0, indicating moderately higher market values compared to the national average, which might suggest a competitive real estate environment. The median home price is currently 281000, while the average rent for a 2-bedroom apartment is 1200, and for a 2-bedroom house, it’s 1280. It's essential to weigh these factors against your budget and lifestyle preferences. Additionally, local amenities, job opportunities, and school ratings should also play a key role in your decision-making process.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Madison, MS.
- Electricity Price: $13.42 USD (median by state)
- Natural Gas Price: $22.19 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Madison, MS could entail higher utility costs. Electricity costs sit at $13.42, while natural gas is priced at $22.19 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Madison is a financially viable option for your relocation.