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These days, finding an affordable place to live in the Madison area can be challenging. Home prices in Madison are now at a median cost of $372,651, higher than the Mississippi average of $183,008.
The average cost of rent is $1,719/mo in Madison, primarily driven by the current value of real estate in the Madison area. In Madison, 9.90% of households rent, and 29.38% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Madison is $10,481 per month. Households that rent pay about 16.40% of their income on rent here. Madison’s most expensive areas are in the southwestern regions, while the cheapest areas are in the southern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Meltonville, MS: less expensive homes
- Ridgeland, MS: less expensive homes
- Charlton, MS: equally priced homes
- Sloan, MS: less expensive homes
- Madisonville, MS: less expensive homes
- Canton, MS: less expensive homes
- Flora, MS: less expensive homes
- Flowood, MS: equally priced homes
- Jackson, MS: less expensive homes
- Brandon, MS: less expensive homes
Cities with Similar Populations
- Wauwatosa, WI: equally priced homes
- Everett, MA: higher priced homes
- Fairfield, OH: less expensive homes
- Frankfort, KY: less expensive homes
- Grand Blanc, MI: less expensive homes
- Holly Springs, NC: higher priced homes
- Hurst, TX: less expensive homes
- Zanesville, OH: less expensive homes
- Woodland Hills, CA: higher priced homes
- West Orange, NJ: higher priced homes
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