Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Madrid area can be challenging. Home prices in Madrid are now at a median cost of $125,042, lower than the Alabama average of $185,232.
The average cost of rent is $931/mo in Madrid, primarily driven by the current value of real estate in the Madrid area. While nearly 57.96% of residents own their homes outright in Madrid, 12.63% rent.
Housing affordability isn’t just about home prices, though. The average household income in Madrid is $4,013 per month. Households that rent pay about 23.19% of their income on rent here. Madrid's most expensive areas are in the central regions, while the cheapest areas are in the southwestern parts of the city.
Nearby Cities
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Cities with Similar Populations
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