How much does it cost to rent in Madison, MS?

As of August 2026, the median monthly rent in Madison, MS is $2,378. This figure is based on aggregated data from public sources and community-submitted rents.

Is Madison cheaper than other Mississippi cities?

Madison is one of the pricier cities in Mississippi, ranking #1 out of 29 cities tracked at $2,378/mo.

When was Madison rent data last updated?

Madison rent data reflects August 2026 and was last refreshed on August 17, 2026. RentDataNow refreshes all data monthly using public and private datasets.

Is Madison a renter's market or a landlord's market?

Based on RentDataNow's Rent Market Meter, Madison is currently a renter's market. Rents are softening (down 0.5% YoY), so renters have negotiating leverage. The meter is derived from rent-price momentum (year-over-year and month-over-month change), not inventory levels.

What is the Fair Market Rent in Madison, MS?

HUD sets the Fair Market Rent for a two-bedroom home in Madison, MS at $1,850 per month, which is 22% below the $2,378 market median. Fair Market Rent is the Housing Choice Voucher (Section 8) payment standard. It is a 40th-percentile gross rent that includes essential utilities such as electricity, water, gas, sewer, and trash, and HUD updates it once a year, so it measures something different from current market asking rent.

City Report · MS

Madison

Name: Average Rent Prices in Madison, MS
Creator: RentDataNow
License: https://creativecommons.org/licenses/by/4.0/

Pop. 27,946·1st most expensive in Mississippi·Rental market data updated monthly for Madison, MS

Median rent (all units)

$2,378/mo

Year-over-Year

-0.5%

Month-over-Month

-1.8%

vs US Median

+$416

Falling (Monthly)

Be the first to discuss Madison rents ↓

Most AffordableMost Expensive

Madison · $2,378

More expensive than 75% of US cities · National median $1,962/mo

Rent Reality Score

58/100

Fairly priced

OverheatedFairGreat value

Rents are 4% below what Madison's 10-year trend predicts — a better deal than its own history suggests.

Actual rent

$2,378/mo

Expected by trend

$2,482/mo

The Rent Reality Score compares today's median rent to where Madison's own long-run trajectory projects it should be. See the full rankings →

Medians by bedroom

Rent by unit size

Studio

$1,570

1 BR

$1,580

2 BR

$1,850

3 BR

$2,230

4 BR+

$2,450

Fair Market Rent (HUD)

$1,850/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $2,378 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 →

Rent trends

12-month history

Loading…

Last updated: August 17, 2026

Annual cost

$28,536/yr

At $2,378/mo median

Rent Market Meter

Renter's Market

Renter's MarketBalancedLandlord's Market

Rents are softening (down 0.5% YoY), so renters have negotiating leverage.

Based on rent-price momentum (-0.5% YoY, -1.8% MoM), not inventory.

Rent check

Is your rent fair?

Compare your rent to the local median.

Demographics

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.

Population

27,946

Median income

$119,338

Median age

41.7

Renters

5.7%

Age distribution

25.6%

15.8%

27.9%

14.5%

16.2%

Under 1825.6%

18–3415.8%

35–5427.9%

55–6414.5%

65+16.2%

Gender

48.1%

51.9%

Male48.1%

Female51.9%

Race & ethnicity

77.3%

12.7%

White77.3%

Black12.7%

Hispanic2.3%

Asian5.9%

Other1.8%

Education (25+)

20.8%

64.2%

No HS diploma3.9%

HS diploma11.1%

Some college20.8%

Bachelor's+64.2%

Housing tenure

94.3%

Owner94.3%

Renter5.7%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2023 vs 2026

How Madison, MS has changed in 5 years

Rent

$2,098 → $2,378

up 13.3%

Income

$119,662 → $119,338

down 0.3%

Population

27,459 → 27,946

up 1.8%

Renter share

6% → 5.7%

-0.3 pts

Bachelor's+

68.1% → 64.2%

-3.9 pts

Median age

40.4 → 41.7

+1.3 yrs

Rent in Madison, MS has climbed 13.3% since 2023, going from about $2,098 per month to roughly $2,378 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 13.6 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.

Community

Discussions about Madison

No discussions yet. Start the conversation.

View Madison rent history (2015–2026) →

Salary vs rent

Can you afford rent in Madison on your salary?

At $2,378/mo, how Madison rent compares to typical pay (30% rule).

Registered Nurse

Avg $76,529/yr · Rent = 37.3% income

stretched

Elementary School Teacher

Avg $54,335/yr · Rent = 52.5% income

severely rent-burdened

Police Officer

Avg $62,589/yr · Rent = 45.6% income

rent-burdened

Software Developer

Avg $111,869/yr · Rent = 25.5% income

affordable

Lawyer

Avg $142,941/yr · Rent = 20% income

very comfortable

Firefighter

Avg $50,876/yr · Rent = 56.1% income

severely rent-burdened

Truck Driver

Avg $45,935/yr · Rent = 62.1% income

severely rent-burdened

Electrician

Avg $56,619/yr · Rent = 50.4% income

severely rent-burdened

By apartment size

Madison rent by bedroom count

Median rent for each apartment size in Madison. Click any size for full breakdown.

Local insights

Tips for renters in Madison

About renting in Madison, MS

Last updated: August 17, 2026

The median rent in Madison is $2,378/mo as of August 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 24% of local median household income ($119,338/yr), Madison ranks as affordable compared to the national benchmark of 30%. Rents have decreased 0.5% over the past year.

FAQ

Frequently asked questions

Is Madison an affordable city for renters?

Madison is considered very affordable for renters. At $2,378/mo, rent takes approximately 24% of the local median household income ($119,338/yr). The standard benchmark is 30%. Madison falls comfortably within that range.

How much income do you need to rent in Madison?

To keep rent at or below 30% of gross income, you would need to earn at least $95,000/year (~$46/hour full-time) to afford the median rent of $2,378/mo in Madison. The local median household income is $119,338/yr, meaning the typical Madison household meets that threshold.

Is rent going up or down in Madison?

Rent in Madison has been relatively stable over the past year, with a 0.5% change year over year as of August 2026.

How does Madison rent compare to other cities in Mississippi?

Madison is one of the pricier cities in Mississippi for rent, ranking #1 out of 29 tracked cities at $2,378/mo.

Which nearby cities are cheaper to rent in than Madison?

Several nearby cities have lower median rents than Madison ($2,378/mo): Jackson ($1,251/mo), Ridgeland ($1,473/mo), Flowood ($1,474/mo).

What percentage of Madison residents rent vs. own?

According to Census data, approximately 5.7% of Madison households are renters, while 94.3% are owner-occupied. Madison leans toward homeownership, which can mean a smaller rental inventory.

How does Madison rent compare to the national average?

Madison's median rent of $2,378/mo is $416 (21%) above the US national median of $1,962/mo. Within Mississippi, it ranks #1 out of 29 tracked cities.

Income Affordability

24%

VERY AFFORDABLE

At $2,378/mo, rent takes ~24% of Madison's median household income ($119,338/yr). The standard benchmark is 30%.

Madison 24%Benchmark 30%

State income tax4.7%

Run the Madison affordability calculator →

Nearby cities