Madison, SD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Madison, SD 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 a population of 7,258, 2,691 total housing units (homes and apartments), and a median house value of $118,191, 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 65.22% of the city's housing units. Other types of housing that are prevalent in Madison include large apartment complexes or high rise apartments ( 21.33%), duplexes, homes converted to apartments or other small apartment buildings ( 5.39%), and a few row houses and other attached homes ( 4.12%).

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 56.52% owning and 43.48% 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 ( 31.76%). A lesser amount of the housing stock also hails from before 1939 ( 25.55%). There's also some housing in Madison built between 2000 and later ( 5.25%).

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 14.58%, which ranks in the top 30% nationwide. This equates to an annual average Madison house appreciation rate of 1.37%.

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 2.90%, 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 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to South Dakota, our data show that Madison's latest annual appreciation rate is lower than 80% of the other cities and towns in South Dakota.

Average Home Values

 

Median Home Value:
$118,191

Madison, SD HOME PRICES

Value Range
> $1,111,000 0.0
$833,001 - $1,111,000 0.8
$555,001 - $833,000 0.7
$444,001 - $555,000 3.3
$333,001 - $444,000 0.8
$222,001 - $333,000 8.6
$111,001 - $222,000 39.4
$56,001 - $111,000 33.8
$0 - $56,000 12.7

Average for SD
Low for Nation

Value Relative to Nation Value Relative to State
66.5475213875542 48.3333333333333

Number Of Homes And Apartments:
2,691

Madison Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
SD*
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
50.08% 2.38% 1 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$676 / per month

Homeownership Rate

Homeownership
Owners 56.52
Renters 43.48
Vacant 4.51

Housing Market Details

 

Age of Homes

AGE OF Madison HOMES
2000 or Newer 5.3
1970 - 1999 37.4
1940 - 1969 31.8
1939 or Older 25.6

Types of Homes

TYPE OF Madison HOMES
Single-Family 65.2
Townhomes 4.1
Small Apt. Buildings 5.4
Apt. Complexes 21.3
Mobile Homes 3.9
Other 0.0

Home Size

SIZE OF Madison HOMES
No Bedroom 0.46
1 Bedroom 10.65
2 Bedrooms 29.28
3 Bedrooms 33.43
4 Bedrooms 13.88
5 or more bedrooms 12.31

Popular Neighborhoods in Madison

Popular Communities Near Madison, SD

Zip Codes in Madison, SD