The Most Affordable Neighborhoods in Madrid Springs, NY by Home Value

These days, finding an affordable place to live in the Madrid Springs area can be challenging. Home prices in Madrid Springs are now at a median cost of $110,742, lower than the New York average of $610,895.

The average cost of rent is $834/mo in Madrid Springs, primarily driven by the current value of real estate in the Madrid Springs area. In Madrid Springs, 10.19% of households rent, and 43.82% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Madrid Springs is $7,306 per month. Households that rent pay about 11.42% of their income on rent here. Madrid Springs’s most expensive areas are in the southeastern 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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