Madison South renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in dark green areas.
On average, the cost of rent in Madison South is about $1,466 per month. This puts it in the 52nd percentile compared to the city average cost of rent, which is $1,538. Households in Madison South have a median income of $6,126 per month so the average renter in Madison South is spending roughly 24% of their earnings on housing.
Nationally, and in Madison South, home values are the data point most closely correlated with the cost of rent. The median price of a home in Madison South is $400,779 right now, which is lower than nearby neighborhoods, meaning that rents in Madison South also tend to be lower versus these nearby neighborhoods.
Higher rent prices are common in the southeastern parts of Madison South while lower rent rates are often available in northeastern areas.
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