Rents are right about where Madison's 10-year trend predicts.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $2,292 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
Rent in Madison is at its highest level since Zillow's records here began in June 2022.
Rent in Madison changed +5.0% over the year to September 2026. Across the 23 Mississippi cities Zillow tracks, the typical change was +3.8%.
Rent has risen 3 months in a row, and rose in 9 of the last 12 months.
30% of the median household income ($119,338) is $2,983 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($2,450).
Ridgeland, 6 miles away, rents for 37% less ($1,445/mo), about $10,200 a year in savings.
From Zillow's monthly rent index (ZORI) for Madison. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Madison, MS is majority owner-occupied, has a large share of families with children, has a median income above the national average, 64.2% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Madison, MS has changed in 5 years
Rent in Madison, MS has climbed 14.0% since 2023, going from about $2,010 per month to roughly $2,292 today. Median household income fell from $119,662 to $119,338 between 2021 and 2024, a 0.3% shift. Rent outpaced income growth by roughly 14.3 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 27,459 to 27,946 between 2021 and 2024, a 1.8% change. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher slipped from 68.1% to 64.2%. Taken together, the five-year picture in Madison, MS reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.
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Can you afford rent in Madison on your salary?
At $2,292/mo, how Madison rent compares to typical pay (30% rule).
Madison rent by bedroom count
Median rent for each apartment size in Madison. Click any size for full breakdown.
Tips for renters in Madison
Last updated: October 17, 2026
The median rent in Madison is $2,292/mo as of October 2026. A studio apartment averages $1,570/mo while a 2-bedroom runs $1,850/mo. One-bedroom apartments average $1,580/mo and 3-bedroom units go for $2,230/mo.
At 23% of local median household income ($119,338/yr), Madison ranks as affordable compared to the national benchmark of 30%. Rents have increased 5.0% over the past year.
Frequently asked questions
How much income do you need to rent in Madison?
Is rent going up or down in Madison?
How does Madison rent compare to other cities in Mississippi?
At $2,292/mo, rent takes ~23% of Madison's median household income ($119,338/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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