Madison appreciation rates and housing market information

Madison housing market information

With a population of 17,858, 7,386 total housing units (homes and apartments), and a median house value of $552,900, Madison house prices are not only among the most expensive in Connecticut, Madison real estate also is some of the most expensive in all of America.

single-family detached homes are the single most common housing type in Madison, accounting for 88.49% of the town's housing units. Other types of housing that are prevalent in Madison include row houses and other attached homes (4.66%), duplexes, homes converted to apartments, or other small apartment buildings (4.41%), and a few large apartment complexes or high rise apartments (2.26%).

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 77.85% of Madison's homes, and 68.78% 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 1940-1969 (30.33%). A lesser amount of the housing stock also hails from 1939 and earlier (15.09%), and some were built from 1995 and later (15.09%).

Vacant housing appears to be an issue in Madison. Fully 11.79% of the housing stock is classified as vacant. Left unchecked, vacant Madison homes and apartments can be a drag on the real estate market, holding Madison real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Madison home appreciation rates

Appreciation rates for homes in Madison have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 109.79%, which ranks in the top 20% nationwide. This equates to an annual average Madison house appreciation rate of 10.97%.

Over the last year, Madison appreciation rates have trailed the rest of the nation. In the last twelve months, Madison's appreciation rate has been -1.95%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Madison were at -1.59%, which equates to an annual appreciation rate of -6.36%.

Relative to Connecticut, our data show that Madison's latest annual appreciation rate is higher than 30% of the other cities and towns in Connecticut.