Madison appreciation rates and housing market information

Madison housing market information

With 29,089 people, 12,025 houses or apartments, and a median cost of homes of $235,700, Madison real estate is some of the most expensive in Alabama, although Madison home values aren't among America's most expensive.

single-family detached homes are the single most common housing type in Madison, accounting for 67.23% of the city's housing units. Other types of housing that are prevalent in Madison include large apartment complexes or high rise apartments (21.15%), duplexes, homes converted to apartments, or other small apartment buildings (7.45%), row houses and other attached homes (2.89%), and a few mobile homes or trailers (1.29%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Madison. Owner-occupied housing accounts for 64.83% of Madison's homes, and 64.94% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Madison built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Madison built from 1995 and later (25.60%). A lesser amount of the housing stock also hails from 1940-1969 (5.96%), and some were built from 1939 and earlier (5.96%).

Madison home appreciation rates

Real estate appreciation rates in Madison have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 6.81% during the period.

Appreciation rates are so strong in Madison that despite a nationwide downturn in the housing market, Madison real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Madison appreciation rates continue to be some of the highest in America, at 5.94%, which is higher than appreciation rates in 85% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Madison. Madison appreciation rates in the latest quarter were at 1.38%, which equates to an annual appreciation rate of 5.52%.

Importantly, this makes Madison one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Alabama, our data show that Madison's latest annual appreciation rate is higher than 68% of the other cities and towns in Alabama.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Madison differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Madison - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Madison real estate investment or home purchase decisions.