Madison, CT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Madison, CT Real Estate Data


Madison Housing Market Information

With a population of 18,223, 6,727 total housing units (homes and apartments), and a median house value of $489,720, 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 90.42% of the town's housing units. Other types of housing that are prevalent in Madison include duplexes, homes converted to apartments or other small apartment buildings ( 4.07%), row houses and other attached homes ( 3.79%), and a few large apartment complexes or high rise apartments ( 1.71%).

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 86.07% of Madison's homes, and 69.84% 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 1940-1969 ( 28.52%). A lesser amount of the housing stock also hails from before 1939 ( 14.01%). There's also some housing in Madison built between 2000 and later ( 8.99%).

Vacant housing appears to be an issue in Madison. Fully 15.22% 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

Madison's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Madison during the period has been just -1.46%, which is lower than 80% of US communities.

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 2.89%, 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 1.01%, which equates to an annual appreciation rate of 4.11%.

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

Relative to Connecticut, our data show that Madison's latest annual appreciation rate is higher than 50% of the other cities and towns in Connecticut.

Average Home Values

 

Median Home Value:
$489,720

Madison, CT HOME PRICES

Value Range
> $1,016,000 6.1
$762,001 - $1,016,000 10.0
$508,001 - $762,000 24.7
$407,001 - $508,000 21.2
$305,001 - $407,000 23.2
$204,001 - $305,000 10.6
$102,001 - $204,000 1.3
$51,001 - $102,000 0.8
$0 - $51,000 2.1

Very High for CT
Very High for Nation

Value Relative to Nation Value Relative to State
6.48240323241787 11.2426035502959

Number Of Homes And Apartments:
6,727

Rent & Ownership

 

Average Market Rent:
$1,603 / per month

Homeownership Rate

Homeownership
Owners 86.07
Renters 13.93
Vacant 15.22

Housing Market Details

 

Age of Homes

AGE OF Madison HOMES
2000 or Newer 9.0
1970 - 1999 48.5
1940 - 1969 28.5
1939 or Older 14.0

Types of Homes

TYPE OF Madison HOMES
Single-Family 90.4
Townhomes 3.8
Small Apt. Buildings 4.1
Apt. Complexes 1.7
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Madison HOMES
No Bedroom 0.15
1 Bedroom 8.48
2 Bedrooms 12.75
3 Bedrooms 31.09
4 Bedrooms 38.75
5 or more bedrooms 8.77

Madison Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CT*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
39.89% 1.99% 8 5
* 10 is highest