Madison, IN


Highest Appreciating Madison Neighborhoods Since 2000

Madison, IN 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 12,040 people, 5,036 houses or apartments, and a median cost of homes of $133,225, 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 67.46% 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 ( 12.59%), large apartment complexes or high rise apartments ( 11.57%), and a few row houses and other attached homes ( 5.62%).

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.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Madison's housing was primarily built during this period, from the '40s through the '60s. A full 31.96% of the city's housing hails from this era. Other housing ages represented in Madison include homes built before 1939 ( 31.57%) and housing constructed between 1970-1999 ( 28.80%). There's also some housing in Madison built between 2000 and later ( 7.66%).

Vacant housing appears to be an issue in Madison. Fully 14.79% 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 4.66%, which ranks in the top 40% nationwide. This equates to an annual average Madison house appreciation rate of 0.46%.

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 2.61%, 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 -1.14%, which equates to an annual appreciation rate of -4.49%.

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

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

Average Home Values


Median Home Value:


Value Range
> $1,068,000 0.9
$801,001 - $1,068,000 0.0
$534,001 - $801,000 0.6
$427,001 - $534,000 0.6
$320,001 - $427,000 3.0
$214,001 - $320,000 10.5
$107,001 - $214,000 44.2
$54,001 - $107,000 29.4
$0 - $54,000 10.7

Average for IN
Average for Nation

Value Relative to Nation Value Relative to State
58.1624282198523 40.9502262443439

Number Of Homes And Apartments:

Madison Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
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
28.20% 1.45% 8 3
* 10 is highest

Rent & Ownership


Average Market Rent:
$772 / per month

Homeownership Rate

Owners 53.66
Renters 46.34
Vacant 14.79

Housing Market Details


Age of Homes

2000 or Newer 7.7
1970 - 1999 28.8
1940 - 1969 32.0
1939 or Older 31.6

Types of Homes

Single-Family 67.5
Townhomes 5.6
Small Apt. Buildings 12.6
Apt. Complexes 11.6
Mobile Homes 2.8
Other 0.0

Home Size

No Bedroom 1.46
1 Bedroom 15.14
2 Bedrooms 33.42
3 Bedrooms 38.48
4 Bedrooms 9.51
5 or more bedrooms 2.00

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Zip Codes in Madison, IN