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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 $134,483, lower than the Missouri average of $246,641.
The average cost of rent is $697/mo in Madison, primarily driven by the current value of real estate in the Madison area. In Madison, 19.12% of households rent, and 68.96% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Madison is $4,507 per month. Households that rent pay about 15.45% of their income on rent here. Madison’s most expensive areas are in the southeastern regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Holliday, MO: equally priced homes
- Woodlawn, MO: less expensive homes
- Middle Grove, MO: higher priced homes
- Woodville, MO: higher priced homes
- Moberly, MO: equally priced homes
- Cairo, MO: higher priced homes
- Maud, MO: less expensive homes
- Paris, MO: equally priced homes
- Urbandale, MO: higher priced homes
- Renick, MO: higher priced homes
Cities with Similar Populations
- Avon, IL: less expensive homes
- Ayersville, OH: higher priced homes
- Viborg, SD: higher priced homes
- Barlow, KY: equally priced homes
- Boyle, MS: equally priced homes
- Bringhurst, IN: higher priced homes
- Buckatunna, MS: less expensive homes
- Norfolk, CT: higher priced homes
- Nazlini, AZ: less expensive homes
- North Truro, MA: higher priced homes
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