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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Madison, VA Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Madison, VA Housing Market Trends

With a population of 208, 147 total housing units (homes and apartments), and a median house value of $425,089, Madison real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Madison, accounting for 82.14% of the town's housing units. Other types of housing that are prevalent in Madison include large apartment complexes or high rise apartments ( 14.29%), mobile homes or trailers ( 2.38%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.19%).

The most prevalent building size and type in Madison are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 44.22% owning and 55.78% renting.

The housing in Madison was primarily built before 1939 ( 49.40%), 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 ( 35.12%), followed by between 1970-1999 ( 15.48%).

Vacant housing appears to be an issue in Madison. Fully 12.50% 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

Real estate appreciation rates in Madison's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.45% during the period.

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 4.68%, 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 Virginia, our data show that Madison's latest annual appreciation rate is lower than 80% of the other cities and towns in Virginia.

Average Home Values

Median Home Value

$425,089

Madison, VA Home Prices
> $1,260,000
$945,001 - $1,260,000
$630,001 - $945,000
$504,001 - $630,000
$378,001 - $504,000
$252,001 - $378,000
$126,001 - $252,000
$63,001 - $126,000
$0 - $63,000
6.3%
6.3%
1.6%
1.6%
8.4%
8.4%
16.2%
16.2%
27.9%
27.9%
16.5%
16.5%
14.8%
14.8%
6.8%
6.8%
1.5%
1.5%
0% 100.0%
% of Homes
High

for Virginia

High

for nation

Number of Homes And Apartments:

147

Madison Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,275 / per month

Homeownership Rate

Owners
Renters
44.2%
44.2%
55.8%
55.8%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
12.5%
12.5%
87.5%
87.5%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
0.0%
0.0%
15.5%
15.5%
35.1%
35.1%
49.4%
49.4%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
82.1%
82.1%
0.0%
0.0%
1.2%
1.2%
14.3%
14.3%
2.4%
2.4%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
8.3%
8.3%
20.8%
20.8%
51.2%
51.2%
14.3%
14.3%
5.4%
5.4%
0% 100.0%
% of Homes