Madison, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Madison, AL Real Estate Data


Madison Housing Market Information

With 46,962 people, 16,857 houses or apartments, and a median cost of homes of $228,876, 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 70.81% of the city's housing units. Other types of housing that are prevalent in Madison include large apartment complexes or high rise apartments ( 18.34%), duplexes, homes converted to apartments or other small apartment buildings ( 5.69%), and a few row houses and other attached homes ( 3.81%).

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 71.15% of Madison's homes, and 68.73% 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 ( 35.71%). A lesser amount of the housing stock also hails from between 1940-1969 ( 5.34%).

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 0.98%, which ranks in the top 50% nationwide. This equates to an annual average Madison house appreciation rate of 0.10%.

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 -1.30%, 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 -1.11%, which equates to an annual appreciation rate of -4.39%.

Notably, Madison's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Alabama, our data show that Madison's latest annual appreciation rate is lower than 80% 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:
$228,876

Madison, AL HOME PRICES

Value Range
> $1,016,000 0.4
$762,001 - $1,016,000 0.2
$508,001 - $762,000 3.0
$406,001 - $508,000 5.4
$305,001 - $406,000 14.3
$203,001 - $305,000 28.1
$102,001 - $203,000 40.1
$51,001 - $102,000 6.4
$0 - $51,000 1.6

Very High for AL
High for Nation

Value Relative to Nation Value Relative to State
25.7178014766202 3.5

Number Of Homes And Apartments:
16,857

Rent & Ownership

 

Average Market Rent:
$1,134 / per month

Homeownership Rate

Homeownership
Owners 71.15
Renters 28.85
Vacant 6.57

Housing Market Details

 

Age of Homes

AGE OF Madison HOMES
2000 or Newer 35.7
1970 - 1999 58.3
1940 - 1969 5.3
1939 or Older 0.7

Types of Homes

TYPE OF Madison HOMES
Single-Family 70.8
Townhomes 3.8
Small Apt. Buildings 5.7
Apt. Complexes 18.3
Mobile Homes 1.3
Other 0.0

Home Size

SIZE OF Madison HOMES
No Bedroom 0.63
1 Bedroom 7.07
2 Bedrooms 16.07
3 Bedrooms 36.77
4 Bedrooms 31.96
5 or more bedrooms 7.49

Madison Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
25.88% 1.34% 4 3
* 10 is highest