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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 $207,791, lower than the Indiana average of $232,932.
The average cost of rent is $824/mo in Madison, primarily driven by the current value of real estate in the Madison area. In Madison, 31.91% of households rent, and 38.26% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Madison is $5,557 per month. Households that rent pay about 14.83% of their income on rent here. Madison’s most expensive areas are in the southwestern regions, while the cheapest areas are in the western parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- North Madison, IN: higher priced homes
- Smyrna, IN: higher priced homes
- Milton, KY: less expensive homes
- Hanover, IN: less expensive homes
- Volga, IN: higher priced homes
- China, IN: equally priced homes
- Manville, IN: equally priced homes
- Brooksburg, IN: equally priced homes
- Kent, IN: equally priced homes
- Saluda, IN: less expensive homes
Cities with Similar Populations
- East Hemet, CA: higher priced homes
- Upper St. Clair, PA: higher priced homes
- Utuado, PR: less expensive homes
- Uvalde, TX: less expensive homes
- Florida Ridge, FL: higher priced homes
- Florida City, FL: higher priced homes
- Floral Park, NY: higher priced homes
- Five Corners, WA: higher priced homes
- East St. Louis, IL: less expensive homes
- East Providence, RI: higher priced homes
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