Expensive
Affordable
Affordable
Colorblind friendly
off
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 $232,083, higher than the Iowa average of $226,062.
The average cost of rent is $1,040/mo in Madrid, primarily driven by the current value of real estate in the Madrid area. In Madrid, 13.53% of households rent, and 33.25% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Madrid is $8,405 per month. Households that rent pay about 12.37% of their income on rent here. Madrid’s most expensive areas are in the northeastern regions, while the cheapest areas are in the central 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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Cities with Similar Populations
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