Madison County, MS: borrowing basics and county figures

Who lives in Madison County

Madison County is home to about 111,647 people, according to the Census Bureau's 2020 to 2024 American Community Survey, which makes it the 6th most populous of 82 county-level areas in Mississippi. Land area is 714 square miles (2024 Gazetteer), so density runs near 156 per square mile. For statistical purposes it belongs to the Jackson, MS metro area, as delineated by the Office of Management and Budget in July 2023. Madison is the biggest of its 6 Census places, at roughly 27,946 people (25% of the county total).

Rent, home values and ownership in Madison County

Renters in Madison County pay a median of $1,186 a month, 24% above the Mississippi figure of $954. Rent takes 30% or more of income for 54% of renter households here. Home values center on $311,100, or 3.7 years of median income. Owners occupy 71% of homes. The median year built is 1997.

When half or more of renters are already stretched, a new payment needs a stress test: what happens if a paycheck is a week late?

Household income in Madison County

Half of Madison County households take in less than $83,441 a year and half take in more, 48% above the Mississippi median of $56,447.

Some 20% of households here live on less than $35,000 a year; 41% have six-figure incomes. The poverty rate is 11.2%, 8 points lower than the state's 18.9%. A household earning below the $83,441 median should test any payment carefully; one earning above it should still pick the shortest term it can manage.

How Madison County residents earn a living

By the Census industry count, 26% of employed Madison County residents work in education and health care and 10% in professional and administrative services. The sharpest difference from the state is in finance, insurance and real estate, at 9% locally and 5% for Mississippi. Averaged over the five survey years, 3.7% of the labor force was out of work and looking. About 80% drive to work alone and 8% have trips of 45 minutes or more. Only 5.3% of homes here go without a vehicle.

Industry shapes paperwork. Salaried and public jobs are easy to verify, while hourly, tipped, commission or contract earners in Madison County should have bank statements and tax returns ready.

Cities, towns and CDPs in Madison County

Here are the 6 most populous of the county's 6 Census places, with income and rent from the same 2020 to 2024 survey. About 62% of Madison County residents live in one of the 6. Gluckstadt has the highest median household income on the list ($124,348) and Flora the lowest ($36,513), counting places with at least 500 residents. This guide covers each of the 6 places and the rural areas around them.

Madison County and the counties next door

Yazoo County is closest, 22 miles from center to center; the sixth, Hinds County, is 36 miles off. None of the six report a higher median household income than Madison County; Rankin County is highest at $79,357 and Holmes County lowest at $32,538.

Budget math at the Madison County median

Madison County at the medians, through a lender's eyes (what DTI means):

• Median income divided by twelve: $6,953 before taxes
• Less median rent of $1,186, which is 17% of it
• Under a 36% cap, $2,503 total minus rent leaves $1,317
• At 43%, room after rent is $1,804 a month

Subtract what you already pay on other debts. A new payment should fit in what remains, with some to spare.

Before borrowing in Madison County

The county's numbers point to a few situations that come up often for Madison County borrowers.

• Consolidation math. With 41% at six figures, card consolidation is common; it pays only if total cost falls (guide).
• Rent squeeze. 54% of renters spend 30%+ of income on rent; borrow only if the loan cuts what you pay overall.
• Combining balances. It helps when total cost falls and the cards stay paid down (consolidation).

Madison County residents: age, schooling, coverage

50% of Madison County adults 25 and older hold a bachelor's degree or more. The uninsured rate is 8.3%, against 11.0% for Mississippi.

A Madison County borrower's checklist

Quick steps for Madison County:

• Size the loan to the bill, not to the most a lender offers.
• Ask each lender for the APR and all fees in writing.
• A Mississippi license check takes minutes; do it first.
• Keep a small cushion so one surprise bill does not mean another loan.

Checking a lender's license in Mississippi

Before sharing details with a lender, a Madison County resident can confirm its license with the Mississippi Department of Banking and Consumer Finance. Banks and credit unions have their own regulators, and the CFPB takes complaints about any lender. More on Mississippi: Mississippi personal loans.

Related local guides

The Mississippi guide covers the whole state.

• Mississippi state guide