Madison County, New York Housing Market Prices
Madison County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 66% below the New York median$161,813
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Median rent 43% below the New York median Cheaper than 70% of counties in New York$927
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Madison County | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $161,813 | $471,885 | $248,835 |
| Price Trend (Annual %) | 11.3% | 7.1% | 7.5% |
| Median Gross Rent | $927 | $1,621 | $1,407 |
| Rent Trend (Annual %) | 3.1% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Madison County is about 66% lower than in New York. Rent is about 43% lower than the New York average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Madison County, up about 11.3% and 3.1% a year respectively. Home prices are changing faster.
Median rent in Madison County rose about 29.3% between 2015 and 2024, from $717 to $927. Over the same span, rent in New York rose about 43.2%.
Affordability
On average, housing unit costs 2.1 yearly household incomes in Madison County.
Buying the median-priced home in Madison County costs roughly 14.5 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Madison County. The price-to-rent ratio in New York is about 24.3.
| Metric | Madison County | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $161,813 | $471,885 | $248,835 |
| Median Household Income | $75,545 | $86,556 | $80,455 |
| Price-to-Income Ratio | 2.1 | 5.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Madison County rose about 45.0%, while median household income rose about 39.8% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Madison County | New York Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.9% | 48.8% | 58.5% |
| Rental Rate | 18.6% | 41.1% | 31.2% |
| Vacancy Rate | 14.6% | 10.1% | 10.2% |
| Median Tenure (years) | 18.0 | 17.0 | 15.0 |
| Median Year Moved In | 2008 | 2009 | 2011 |
Madison County has a homeownership rate of 66.9%, higher than the New York average of 48.8%. Its housing vacancy rate is 14.6%, compared with 10.1% in New York.
Housing Stock
| Metric | Madison County | New York Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.59 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1966 | 1960 | 1978 |
| Median Number of Rooms | 6.1 | 5.0 | 5.5 |
The typical housing unit in Madison County was built around 1966. On average, 2.6 people live in a home with about 6.1 rooms, staying for about 18.0 years on average.
Madison County, NY Housing Compared With Nearby Counties
Madison County, NY is typical in size for this group, 67,325 residents against a local median of 60,108, so the measures below are close to a like for like comparison. The measure that sets Madison County, NY apart most is homeownership: 78.3%, 16% above the local median of 67.7%. That is the better end of the local range on this measure.
The counties themselves spread 9.4% on homeownership, so Madison County, NY sits at one end of an already wide local range rather than apart from it. Madison County, NY has the highest homeownership of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Madison County, NY | 67,325 | $161,813 #2/6 | $927 #5/6 | 78.3% #1/6 |
| Oneida County, NY | 229,092 | $143,943 | $944 | 67.7% |
| Chenango County, NY | 46,321 | $79,630 | $875 | 75.4% |
| Cortland County, NY | 46,246 | $139,484 | $983 | 66.3% |
| Onondaga County, NY | 470,361 | $150,980 | $1,107 | 65.9% |
| Otsego County, NY | 60,108 | $162,202 | $986 | 73.9% |
Frequently Asked Questions
Common questions about the housing market in Madison County, New York.
What is the median home price in Madison County, New York?
The median home price in Madison County, New York is $161,813, lower than the New York average of $471,885.
What is the average home price in Madison County, New York?
The typical home price in Madison County, New York, reported as the median sale price, is $161,813. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Madison County, New York?
The median gross rent in Madison County, New York is $927 per month, lower than the New York average of $1,621.
What was the median gross rent in Madison County in 2020?
In 2020, the median gross rent in Madison County, New York was $768 per month.
What is the price-to-rent ratio in Madison County, New York?
The price-to-rent ratio in Madison County, New York is about 14.5, meaning it would take roughly 14.5 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Madison County.
Are home prices or rent rising faster in Madison County, New York?
Both home prices and rent are rising in Madison County, up about 11.3% and 3.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Madison County, New York?
66.9% of households in Madison County, New York own their home, higher than the New York average of 48.8%.
What is the vacancy rate in Madison County, New York?
The housing vacancy rate in Madison County, New York is 14.6%, higher than the New York average of 10.1%.
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