Quick facts: Madison, MS

Quick Facts

92.7
Cost of Living
below US average
27,775
Population
6.26
Crime Rate per 1000
below US average
$124,575
Median Income
above US average
$415,000
Median House Price
above US average
$2545.31
Average Rent
above US average
5%
Poverty Rate
below US average
2.3%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $124,575.

🏠

Income Needed to Buy

βœ— Stretch
$130k/year
Based on $415,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $130k vs median $124,575
🏒

Income Needed to Rent

βœ“ Affordable
$109k/year
Based on $2545.31/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($124,575) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Madison, MS

Madison, Mississippi, is a vibrant and family-friendly city located just northeast of Jackson, the state capital. Known for its small-town charm and strong sense of community, Madison has rapidly grown in recent years, attracting newcomers with its excellent schools and suburban atmosphere. The city boasts well-planned neighborhoods, lush green spaces, and a variety of recreational Parks, such as the popular Madison County Recreation Park. Madison features a mix of local boutiques, restaurants, and national retailers, catering to diverse tastes and preferences. The city's flourishing dining scene includes southern cuisine, casual eateries, and fine dining options. Residents enjoy a variety of annual events, including the Madison Market and the local Farmer's Market, fostering community engagement. With a strong emphasis on education, Madison is served by the highly regarded Madison County School District, making it an appealing choice for families. The city's strategic location offers easy access to the amenities of Jackson while maintaining a quieter suburban lifestyle. Overall, Madison combines the warmth of a close-knit community with the conveniences of urban living.

πŸ” Search & Compare Places

First Location πŸ“