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 $304,464, higher than the Wisconsin average of $220,185.
The average cost of rent is $1,163/mo in Madison, primarily driven by the current value of real estate in the Madison area. While nearly 32.93% of residents own their homes outright in Madison, 36.55% rent.
Housing affordability isn’t just about home prices, though. The average household income in Madison is $7,056 per month. Households that rent pay about 16.48% of their income on rent here. Madison's most expensive areas are in the northeastern regions, while the cheapest areas are in the northwestern parts of the city.
Nearby Cities
- Shorewood Hills, WI: higher priced homes
- Maple Bluff, WI: higher priced homes
- Monona, WI: equally priced homes
- Fitchburg, WI: equally priced homes
- Middleton, WI: higher priced homes
- Ashton Corners, WI: higher priced homes
- McFarland, WI: equally priced homes
- Waunakee, WI: higher priced homes
- Verona, WI: higher priced homes
- Windsor, WI: higher priced homes
Cities with Similar Populations
- Quincy, MA: higher priced homes
- Pueblo, CO: less expensive homes
- Queens, NY: higher priced homes
- Queen Creek, AZ: higher priced homes
- Port St. Lucie, FL: less expensive homes
- Hamilton, OH: less expensive homes
- Hartford, CT: less expensive homes
- Gresham, OR: equally priced homes
- Grand Junction, CO: less expensive homes
- Harlingen, TX: less expensive homes
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