menu
Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Madison, NC Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Madison, NC Housing Market Trends

With a population of 2,146, 1,013 total housing units (homes and apartments), and a median house value of $205,010, house prices in Madison are solidly below the national average.

Single-family detached homes are the single most common housing type in Madison, accounting for 71.91% of the town's housing units. Other types of housing that are prevalent in Madison include large apartment complexes or high rise apartments ( 18.40%), duplexes, homes converted to apartments or other small apartment buildings ( 6.58%), and a few mobile homes or trailers ( 3.11%).

People in Madison primarily live in small (one, two or no bedroom) single-family detached homes. Madison has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Madison's housing was primarily built during this period, from the '40s through the '60s. A full 34.67% of the town's housing hails from this era. Other housing ages represented in Madison include homes built between 1970-1999 ( 31.82%) and housing constructed before 1939 ( 24.00%). There's also some housing in Madison built between 2000 and later ( 9.51%).

Madison Home Appreciation Rates

Real estate appreciation rates in Madison's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.73% 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 7.22%, which is higher than appreciation rates in 76.21% 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 1.18%, which equates to an annual appreciation rate of 4.81%.

Relative to North Carolina, our data show that Madison's latest annual appreciation rate is lower than 60% of the other cities and towns in North Carolina.

Average Home Values

Median Home Value

$205,010

Madison, NC Home Prices
> $1,374,000
$1,031,001 - $1,374,000
$687,001 - $1,031,000
$550,001 - $687,000
$412,001 - $550,000
$275,001 - $412,000
$137,001 - $275,000
$69,001 - $137,000
$0 - $69,000
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.8%
0.8%
6.4%
6.4%
21.4%
21.4%
41.9%
41.9%
24.0%
24.0%
5.5%
5.5%
0% 100.0%
% of Homes
Low

for North carolina

Low

for nation

Number of Homes And Apartments:

1,013

Madison Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,199 / per month

Homeownership Rate

Owners
Renters
63.0%
63.0%
37.0%
37.0%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
10.0%
10.0%
90.0%
90.0%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
9.5%
9.5%
31.8%
31.8%
34.7%
34.7%
24.0%
24.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
71.9%
71.9%
0.0%
0.0%
6.6%
6.6%
18.4%
18.4%
3.1%
3.1%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.5%
1.5%
12.4%
12.4%
36.3%
36.3%
40.3%
40.3%
6.8%
6.8%
2.7%
2.7%
0% 100.0%
% of Homes