Madison, IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Madison, IN Real Estate Data


Madison Housing Market Information

With 12,040 people, 5,073 houses or apartments, and a median cost of homes of $138,569, 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 65.85% of the city's housing units. Other types of housing that are prevalent in Madison include duplexes, homes converted to apartments or other small apartment buildings ( 14.28%), large apartment complexes or high rise apartments ( 10.60%), and a few row houses and other attached homes ( 6.68%).

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.

The housing in Madison was primarily built before 1939 ( 31.62%), making the housing stock in Madison some of the oldest overall in America, although there is a range of ages of homes in Madison. The next most important housing age is between 1940-1969 ( 30.98%), followed by between 1970-1999 ( 29.62%). There's also some housing in Madison built between 2000 and later ( 7.77%).

Vacant housing appears to be an issue in Madison. Fully 14.67% 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

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 12.46%, which ranks in the top 30% nationwide. This equates to an annual average Madison house appreciation rate of 1.18%.

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 6.17%, which is higher than appreciation rates in 76.42% 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 2.34%, which equates to an annual appreciation rate of 9.71%.

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

Average Home Values

 

Median Home Value:
$138,569

Madison, IN HOME PRICES

Value Range
> $1,111,000 1.0
$833,001 - $1,111,000 0.2
$556,001 - $833,000 1.2
$445,001 - $556,000 0.3
$333,001 - $445,000 2.8
$222,001 - $333,000 10.3
$111,001 - $222,000 45.3
$55,001 - $111,000 28.0
$0 - $55,000 10.9

High for IN
Average for Nation

Value Relative to Nation Value Relative to State
56.4970428061135 36.6515837104072

Number Of Homes And Apartments:
5,073

Rent & Ownership

 

Average Market Rent:
$798 / per month

Homeownership Rate

Homeownership
Owners 52.68
Renters 47.32
Vacant 14.67

Housing Market Details

 

Age of Homes

AGE OF Madison HOMES
2000 or Newer 7.8
1970 - 1999 29.6
1940 - 1969 31.0
1939 or Older 31.6

Types of Homes

TYPE OF Madison HOMES
Single-Family 65.9
Townhomes 6.7
Small Apt. Buildings 14.3
Apt. Complexes 10.6
Mobile Homes 2.6
Other 0.0

Home Size

SIZE OF Madison HOMES
No Bedroom 1.01
1 Bedroom 16.33
2 Bedrooms 33.73
3 Bedrooms 37.66
4 Bedrooms 10.11
5 or more bedrooms 1.16

Madison Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
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
34.06% 1.74% 9 4
* 10 is highest

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