Madison AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Madison, AL Real Estate Data

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 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Madison Housing Market Information

With 50,440 people, 18,591 houses or apartments, and a median cost of homes of $287,304, 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 72.38% of the city's housing units. Other types of housing that are prevalent in Madison include large apartment complexes or high rise apartments ( 17.27%), duplexes, homes converted to apartments or other small apartment buildings ( 5.83%), and a few row houses and other attached homes ( 3.26%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Madison. Owner-occupied housing accounts for 69.53% of Madison's homes, and 64.84% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Madison built from 1970 to 1999 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 between 2000 and later ( 36.07%). A lesser amount of the housing stock also hails from between 1940-1969 ( 5.45%). There's also some housing in Madison built before 1939 ( 1.07%).

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 1.56% 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 7.16%, which is higher than appreciation rates in 93.41% 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 2.45%, which equates to an annual appreciation rate of 10.15%.

Importantly, NeighborhoodScout’s exclusive research found that Madison's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which 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 90% 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 2000, to assist you in making the best Madison real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$287,304

Madison, AL HOME PRICES

Value Range
> $1,160,000 0.5
$871,001 - $1,160,000 0.6
$580,001 - $871,000 4.6
$464,001 - $580,000 6.0
$348,001 - $464,000 16.7
$232,001 - $348,000 27.7
$116,001 - $232,000 36.6
$58,001 - $116,000 4.6
$0 - $58,000 2.6

Very High for AL
High for Nation

Value Relative to Nation Value Relative to State
22.0204379562044 2.7431421446384

Number Of Homes And Apartments:
18,591

Madison Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2019 Q3 - 2019 Q4
Last 12 Months:
2018 Q4 - 2019 Q4
Last 2 Years:
2017 Q4 - 2019 Q4
Last 5 Years:
2014 Q4 - 2019 Q4
Last 10 Years:
2009 Q4 - 2019 Q4
Since 2000:
2000 Q1 - 2019 Q4
49.64% 2.04%
7
4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,161 / per month

Homeownership Rate

Homeownership
Owners 69.53
Renters 30.47
Vacant 4.90

Housing Market Details

 

Age of Homes

AGE OF Madison HOMES
2000 or Newer 36.1
1970 - 1999 57.4
1940 - 1969 5.5
1939 or Older 1.1

Types of Homes

TYPE OF Madison HOMES
Single-Family 72.4
Townhomes 3.3
Small Apt. Buildings 5.8
Apt. Complexes 17.3
Mobile Homes 1.0
Other 0.3

Home Size

SIZE OF Madison HOMES
No Bedroom 0.96
1 Bedroom 6.34
2 Bedrooms 18.82
3 Bedrooms 30.61
4 Bedrooms 34.23
5 or more bedrooms 9.04