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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 $179,084, lower than the Maine average of $330,167.
The average cost of rent is $1,006/mo in Madison, primarily driven by the current value of real estate in the Madison area. In Madison, 49.12% of households rent, and 54.59% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Madison is $4,354 per month. Households that rent pay about 23.11% of their income on rent here. Madison’s most expensive areas are in the northeastern regions, while the cheapest areas are in the southeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Anson, ME: less expensive homes
- North Anson, ME: less expensive homes
- Norridgewock, ME: equally priced homes
- Rome, ME: equally priced homes
- Skowhegan, ME: equally priced homes
- Starks, ME: higher priced homes
- East Madison, ME: higher priced homes
- Solon, ME: higher priced homes
- Larone, ME: equally priced homes
- West Mills, ME: equally priced homes
Cities with Similar Populations
- Montauk, NY: higher priced homes
- Goliad, TX: higher priced homes
- Rogers City, MI: less expensive homes
- Awendaw, SC: higher priced homes
- Irrigon, OR: higher priced homes
- El Granada, CA: higher priced homes
- Cross, SC: less expensive homes
- Staatsburg, NY: higher priced homes
- Trent Woods, NC: higher priced homes
- St. Bernard, OH: equally priced homes
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