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 $304,300, higher than the New Mexico average of $199,923.
The average cost of rent is $1,167/mo in Madrid, primarily driven by the current value of real estate in the Madrid area. While nearly 67.17% of residents own their homes outright in Madrid, 38.60% rent.
Housing affordability isn’t just about home prices, though. The average household income in Madrid is $2,845 per month. Households that rent pay about 41.01% of their income on rent here. Madrid's most expensive areas are in the central regions, while the cheapest areas are in the southern parts of the city.
Nearby Cities
- Cerrillos, NM: less expensive homes
- Los Cerrillos, NM: equally priced homes
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- Lamy, NM: higher priced homes
- Algodones, NM: less expensive homes
- Placitas, NM: higher priced homes
- El Llanito, NM: higher priced homes
- Bernalillo, NM: less expensive homes
- Rowe, NM: less expensive homes
Cities with Similar Populations
- Wheeler, KS: less expensive homes
- Conewango, NY: less expensive homes
- Cooksville, IL: less expensive homes
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- Copen, WV: less expensive homes
- Copeville, TX: equally priced homes
- Wyattville, MN: less expensive homes
- Corwith, IA: less expensive homes
- Currinsville, OR: higher priced homes
- Davenport Forks, NC: less expensive homes
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