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 $827,083, higher than the New Jersey average of $388,929.
The average cost of rent is $2,104/mo in Madison, primarily driven by the current value of real estate in the Madison area. While nearly 27.65% of residents own their homes outright in Madison, 42.77% rent.
Housing affordability isn’t just about home prices, though. The average household income in Madison is $13,699 per month. Households that rent pay about 15.36% 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.
Nearby Cities
- Florham Park, NJ: less expensive homes
- Chatham, NJ: higher priced homes
- Green Village, NJ: higher priced homes
- New Vernon, NJ: higher priced homes
- Summit, NJ: higher priced homes
- New Providence, NJ: less expensive homes
- Morristown, NJ: less expensive homes
- Whippany, NJ: less expensive homes
- Cedar Knolls, NJ: less expensive homes
- East Hanover, NJ: less expensive homes
Cities with Similar Populations
- Quincy, FL: less expensive homes
- Crowley, LA: less expensive homes
- Cumberland, RI: less expensive homes
- Dandridge, TN: less expensive homes
- Dardenne Prairie, MO: less expensive homes
- Delmar, NY: less expensive homes
- Denville, NJ: less expensive homes
- DeSoto, MO: less expensive homes
- Dewitt, MI: less expensive homes
- Dexter, MI: less expensive homes
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