Madison, CT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Madison Neighborhoods Since 2000




Madison, CT 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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Madison Housing Market Information

With 18,223 people, 6,779 houses or apartments, and a median cost of homes of $425,884, 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 90.37% of the town's housing units. Other types of housing that are prevalent in Madison include row houses and other attached homes ( 3.50%), duplexes, homes converted to apartments or other small apartment buildings ( 3.39%), and a few large apartment complexes or high rise apartments ( 2.74%).

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 86.28% of Madison's homes, and 72.04% 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 ( 31.44%). A lesser amount of the housing stock also hails from before 1939 ( 11.37%). There's also some housing in Madison built between 2000 and later ( 7.61%).

Vacant housing appears to be an issue in Madison. Fully 14.92% 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 -1.90%, 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 -0.54%, 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 -0.47%, which equates to an annual appreciation rate of -1.86%.

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

Average Home Values

 

Median Home Value:
$425,884

Madison, CT HOME PRICES

Value Range
> $988,000 4.9
$741,001 - $988,000 10.0
$494,001 - $741,000 25.4
$395,001 - $494,000 21.0
$297,001 - $395,000 24.6
$197,001 - $297,000 10.2
$99,001 - $197,000 0.8
$49,001 - $99,000 0.9
$0 - $49,000 2.2

Very High for CT
Very High for Nation

Value Relative to Nation Value Relative to State
8.31477792101254 12.4260355029586

Number Of Homes And Apartments:
6,779

Madison Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CT*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
32.82% 1.66% 8 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,884 / per month

Homeownership Rate

Homeownership
Owners 86.28
Renters 13.72
Vacant 14.92

Housing Market Details

 

Age of Homes

AGE OF Madison HOMES
2000 or Newer 7.6
1970 - 1999 49.6
1940 - 1969 31.4
1939 or Older 11.4

Types of Homes

TYPE OF Madison HOMES
Single-Family 90.4
Townhomes 3.5
Small Apt. Buildings 3.4
Apt. Complexes 2.7
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Madison HOMES
No Bedroom 0.26
1 Bedroom 8.31
2 Bedrooms 11.07
3 Bedrooms 31.90
4 Bedrooms 40.14
5 or more bedrooms 8.32