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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
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.
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.
|$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|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Madison HOMES|
|2000 or Newer||7.7|
|1970 - 1999||28.8|
|1940 - 1969||32.0|
|1939 or Older||31.6|
|TYPE OF Madison HOMES|
|Small Apt. Buildings||12.6|
|SIZE OF Madison HOMES|
|5 or more bedrooms||2.00|