Investing in Madison County
Madison County covers 4 rental markets we actively finance in Mississippi — Canton, Gluckstadt, Madison, Ridgeland. Across those markets the median investment basis averages $308,750, a long-term lease averages $1,794/month, and the average all-in PITIA on a DSCR loan at the minimum down payment is $2,054. That produces a county-wide average DSCR ratio near 0.91x.
Basis varies more inside Madison County than the average suggests. Canton is the lowest entry point at roughly $215,000, while Canton currently models the strongest coverage ratio in the county at 1.21x. When two towns in the same county ratio differently, it is almost always the rent-to-price relationship rather than the rate — the same loan pricing applies county-wide, so the deal is won on which submarket you buy in.