Expensive
Affordable
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 $253,497, lower than the Colorado average of $579,698.
The average cost of rent is $1,265/mo in Madrid, primarily driven by the current value of real estate in the Madrid area. In Madrid, 13.41% of households rent, and 45.57% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Madrid is $4,703 per month. Households that rent pay about 26.89% of their income on rent here. Madrid’s most expensive areas are in the southern regions, while the cheapest areas are in the southeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
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