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: $281000
• 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 Bethlehem is a financially viable option for your relocation.

Cost of Living Index

The cost of living index is a widely used metric to determine the relative affordability of cities and towns.

• Index score: 105.0

Median Income

The median income is an important factor to consider when evaluating the affordability of a city or town.

• Median Income: $124575

Educational and Social Amenities

Access to quality education, healthcare, and social services can significantly impact the overall quality of life in a city or town.

• Click here for more information

Summary

When considering a move to Madison, MS, consider the following factors:

• Taxes: State income, property, and local income taxes can significantly impact your take-home pay.
• Job opportunities: The availability of jobs in your field can affect your quality of life.
• Cost of living: Housing costs, utilities, transportation, and other expenses should be considered when evaluating the affordability of a city or town.