Madison, MS is a city in Mississippi with a variety of local companies. It has a low cost of living compared to the US average, making it an attractive option for those on a budget. 2 Bedroom Rent in Madison, MS is $1,580 which is lower than the US 2 Bedroom rent that is $1,430. The Grocery Cost Index in Madison, MS is also lower than the US at 106 versus 100. Companies located in Madison include Canton Lumber Company, RK Hall Construction Company, and T&L Distributors Incorporated. Overall Madison provides locals with access to lower costs of living compared to the national average and a range of businesses that can provide services and employment opportunities.
Madison has an unemployment rate of 3.7%. The US average is 6.0%.
Madison has seen the job market increase by 1.0% over the last year. Future job growth over the next ten years is predicted to be 36.1%, which is higher than the US average of 33.5%.
Tax Rates for Madison
- The Sales Tax Rate for Madison is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Madison is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Madison
- The average income of a Madison resident is $45,604 a year. The US average is $28,555 a year.
- The Median household income of a Madison resident is $119,662 a year. The US average is $69,021 a year.