Madison, SD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Madison, SD Real Estate Data


Madison Housing Market Information

With 7,258 people, 2,686 houses or apartments, and a median cost of homes of $112,480, 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 66.95% of the city's housing units. Other types of housing that are prevalent in Madison include large apartment complexes or high rise apartments ( 23.01%), duplexes, homes converted to apartments or other small apartment buildings ( 4.67%), and a few mobile homes or trailers ( 3.31%).

The most prevalent building size and type in Madison are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 54.19% owning and 45.81% renting.

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 ( 31.27%). A lesser amount of the housing stock also hails from before 1939 ( 27.78%). There's also some housing in Madison built between 2000 and later ( 4.84%).

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 14.18%, which ranks in the top 30% nationwide. This equates to an annual average Madison house appreciation rate of 1.33%.

NeighborhoodScout's data show that during the latest twelve months, Madison's appreciation rate, at 4.43%, has been at or slightly above the national average. In the latest quarter, Madison's appreciation rate has been 0.39%, which annualizes to a rate of 1.55%.

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

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

Average Home Values

 

Median Home Value:
$112,480

Madison, SD HOME PRICES

Value Range
> $1,126,000 0.0
$845,001 - $1,126,000 0.6
$563,001 - $845,000 0.6
$451,001 - $563,000 3.5
$338,001 - $451,000 0.9
$225,001 - $338,000 4.7
$113,001 - $225,000 36.2
$57,001 - $113,000 37.5
$0 - $57,000 16.0

Average for SD
Low for Nation

Value Relative to Nation Value Relative to State
70.7794109035545 47.9674796747967

Number Of Homes And Apartments:
2,686

Rent & Ownership

 

Average Market Rent:
$762 / per month

Homeownership Rate

Homeownership
Owners 54.19
Renters 45.81
Vacant 4.34

Housing Market Details

 

Age of Homes

AGE OF Madison HOMES
2000 or Newer 4.8
1970 - 1999 36.1
1940 - 1969 31.3
1939 or Older 27.8

Types of Homes

TYPE OF Madison HOMES
Single-Family 67.0
Townhomes 2.1
Small Apt. Buildings 4.7
Apt. Complexes 23.0
Mobile Homes 3.3
Other 0.0

Home Size

SIZE OF Madison HOMES
No Bedroom 1.28
1 Bedroom 12.39
2 Bedrooms 28.49
3 Bedrooms 32.87
4 Bedrooms 14.49
5 or more bedrooms 10.47

Madison Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
SD*
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
46.51% 2.27% 1 6
* 10 is highest

Popular Neighborhoods in Madison

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Zip Codes in Madison, SD