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 $69,483, lower than the Illinois average of $242,002.
The average cost of rent is $876/mo in Madison, primarily driven by the current value of real estate in the Madison area. While nearly 55.17% of residents own their homes outright in Madison, 47.77% rent.
Housing affordability isn’t just about home prices, though. The average household income in Madison is $2,917 per month. Households that rent pay about 30.03% of their income on rent here. Madison's most expensive areas are in the central regions, while the cheapest areas are in the southwestern parts of the city.
Nearby Cities
- Venice, IL: less expensive homes
- Lovejoy, IL: less expensive homes
- Brooklyn, IL: less expensive homes
- Granite City, IL: higher priced homes
- Fairmont City, IL: equally priced homes
- Washington Park, IL: less expensive homes
- Pontoon Beach, IL: higher priced homes
- Riverview, MO: less expensive homes
- East St. Louis, IL: less expensive homes
- Bellefontaine Neighbors, MO: equally priced homes
Cities with Similar Populations
- Oxford, NJ: higher priced homes
- Oakland, FL: higher priced homes
- Adamsville, TN: higher priced homes
- Brookhaven, NY: higher priced homes
- Hudson, MI: higher priced homes
- Northwoods, MO: less expensive homes
- Lake Clarke Shores, FL: higher priced homes
- Lake George, NY: higher priced homes
- Coleman, TX: equally priced homes
- East Tawas, MI: higher priced homes
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