Madison, WI 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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Madison, WI Housing Market Trends

With a population of 259,680, 110,294 total housing units (homes and apartments), and a median house value of $310,275, Madison real estate is some of the most expensive in Wisconsin, although Madison home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Madison, accounting for 41.51% of the city's housing units. Other types of housing that are prevalent in Madison include large apartment complexes or high rise apartments ( 40.56%), duplexes, homes converted to apartments or other small apartment buildings ( 12.27%), and a few row houses and other attached homes ( 5.04%).

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.

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 ( 26.67%). A lesser amount of the housing stock also hails from between 2000 and later ( 21.49%). There's also some housing in Madison built before 1939 ( 14.04%).

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 41.65%, which ranks in the top 40% nationwide. This equates to an annual average Madison house appreciation rate of 3.54%.

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 3.97%, 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 1.77%, which equates to an annual appreciation rate of 7.25%.

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

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Madison differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Madison - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Madison real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$310,275

Madison, WI HOME PRICES

> $1,174,000
1.1%
1.1%
$880,001 - $1,174,000
1.8%
1.8%
$587,001 - $880,000
6.2%
6.2%
$470,001 - $587,000
8.3%
8.3%
$352,001 - $470,000
17.6%
17.6%
$234,001 - $352,000
34.3%
34.3%
$117,001 - $234,000
25.4%
25.4%
$59,001 - $117,000
3.6%
3.6%
$0 - $59,000
1.7%
1.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for WI

Value Relative To Nation

Number Of Homes And Apartments:
110,294

Madison Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WI*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
96.68% 3.27%
10
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,391 / per month

Homeownership Rate

Owners
44.8%
44.8%
Renters
55.2%
55.2%
Vacant
4.3%
4.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
21.5%
21.5%
1970 - 1999
37.8%
37.8%
1940 - 1969
26.7%
26.7%
1939 or Older
14.0%
14.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
41.5%
41.5%
Townhomes
5.0%
5.0%
Small Apt. Buildings
12.3%
12.3%
Apt. Complexes
40.6%
40.6%
Mobile Homes
0.6%
0.6%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
6.1%
6.1%
1 Bedroom
17.3%
17.3%
2 Bedrooms
31.9%
31.9%
3 Bedrooms
29.9%
29.9%
4 Bedrooms
11.9%
11.9%
5 or more bedrooms
2.9%
2.9%
0.0% 100.0%
% OF HOMES