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 $155,630, lower than the Iowa average of $182,666.
The average cost of rent is $975/mo in Madrid, primarily driven by the current value of real estate in the Madrid area. While nearly 38.99% of residents own their homes outright in Madrid, 18.21% rent.
Housing affordability isn’t just about home prices, though. The average household income in Madrid is $6,108 per month. Households that rent pay about 15.97% of their income on rent here. Madrid's most expensive areas are in the northeastern regions, while the cheapest areas are in the eastern parts of the city.
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Cities with Similar Populations
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