Expensive
Affordable
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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 $220,637, lower than the Alabama average of $228,911.
The average cost of rent is $1,049/mo in Madrid, primarily driven by the current value of real estate in the Madrid area. In Madrid, 26.14% of households rent, and 43.54% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Madrid is $6,182 per month. Households that rent pay about 16.98% of their income on rent here. Madrid’s most expensive areas are in the northwestern 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
- State Line, AL: higher priced homes
- Sealy Springs, AL: less expensive homes
- Cottonwood, AL: less expensive homes
- Fadette, AL: equally priced homes
- Rehobeth, AL: equally priced homes
- Campbellton, FL: less expensive homes
- Taylor, AL: less expensive homes
- Sills, FL: less expensive homes
- Malvern, AL: less expensive homes
- Graceville, FL: less expensive homes
Cities with Similar Populations
- Bairdford, PA: higher priced homes
- Willis, OK: less expensive homes
- Bostwick, GA: higher priced homes
- Blue Ball, PA: higher priced homes
- Wind River, WY: less expensive homes
- Blaine, ME: less expensive homes
- Berville, MI: higher priced homes
- Westpoint, TN: less expensive homes
- Belton, KY: less expensive homes
- Baskin, LA: less expensive homes
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