Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Madison area can be challenging. Home prices in Madison are now at a median cost of $250,929, higher than the Alabama average of $185,232.
The average cost of rent is $1,469/mo in Madison, primarily driven by the current value of real estate in the Madison area. While nearly 27.28% of residents own their homes outright in Madison, 24.03% rent.
Housing affordability isn’t just about home prices, though. The average household income in Madison is $8,842 per month. Households that rent pay about 16.62% of their income on rent here. Madison's most expensive areas are in the northeastern regions, while the cheapest areas are in the southwestern parts of the city.
Nearby Cities
- Harvest, AL: less expensive homes
- Redstone Arsenal, AL: less expensive homes
- Belle Mina, AL: less expensive homes
- Huntsville, AL: less expensive homes
- Center Hill, AL: less expensive homes
- Mooresville, AL: less expensive homes
- Tanner Crossroads, AL: equally priced homes
- Tanner, AL: less expensive homes
- Toney, AL: less expensive homes
- Athens, AL: less expensive homes
Cities with Similar Populations
- Racine, WI: less expensive homes
- Raleigh, NC: higher priced homes
- Portsmouth, VA: less expensive homes
- Portland, OR: higher priced homes
- Rapid City, SD: equally priced homes
- Providence, RI: higher priced homes
- Porterville, CA: less expensive homes
- Rancho Cucamonga, CA: higher priced homes
- Poughkeepsie, NY: higher priced homes
- Provo, UT: higher priced homes
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