Madison, Wisconsin Housing Market Prices
Madison 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 154% above the Wisconsin median$433,782
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Median rent 28% above the Wisconsin median$1,396
Housing Market Overview
| Metric | Madison | Wisconsin Avg | US Average |
|---|---|---|---|
| Median Home Price | $433,782 | $170,479 | $248,835 |
| Price Trend (Annual %) | 12.0% | 4.2% | 7.5% |
| Median Gross Rent | $1,396 | $1,087 | $1,407 |
| Rent Trend (Annual %) | 5.0% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Madison is about 154% higher than in Wisconsin. Rent is about 28% higher than the Wisconsin 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, up about 12.0% and 5.0% a year respectively. Home prices are changing faster.
Median rent in Madison rose about 51.4% between 2015 and 2024, from $923 to $1,396. Over the same span, rent in Wisconsin rose about 40.2%.
Affordability
On average, housing unit costs 5.8 yearly household incomes in Madison.
Buying the median-priced home in Madison costs roughly 25.9 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Madison. The price-to-rent ratio in Wisconsin is about 13.1.
| Metric | Madison | Wisconsin Avg | US Average |
|---|---|---|---|
| Median Home Price | $433,782 | $170,479 | $248,835 |
| Median Household Income | $74,903 | $77,698 | $80,455 |
| Price-to-Income Ratio | 5.8 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Madison rose about 129.1%, while median household income rose about 47.6% 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 | Wisconsin Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 42.8% | 60.5% | 58.5% |
| Rental Rate | 53.2% | 28.7% | 31.2% |
| Vacancy Rate | 4.0% | 10.8% | 10.2% |
| Median Tenure (years) | 10.0 | 16.0 | 15.0 |
| Median Year Moved In | 2016 | 2010 | 2011 |
Madison has a homeownership rate of 42.8%, lower than the Wisconsin average of 60.5%. Its housing vacancy rate is 4.0%, compared with 10.8% in Wisconsin.
Housing Stock
| Metric | Madison | Wisconsin Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.05 people | 2.33 people | 2.53 people |
| Median Structure Built Year | 1977 | 1974 | 1978 |
| Median Number of Rooms | 4.6 | 5.6 | 5.5 |
The typical housing unit in Madison was built around 1977. On average, 2.0 people live in a home with about 4.6 rooms, staying for about 10.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Madison, Wisconsin.
What is the median home price in Madison, Wisconsin?
The median home price in Madison, Wisconsin is $433,782, higher than the Wisconsin average of $170,479.
What is the average home price in Madison, Wisconsin?
The typical home price in Madison, Wisconsin, reported as the median sale price, is $433,782. 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, Wisconsin?
The median gross rent in Madison, Wisconsin is $1,396 per month, higher than the Wisconsin average of $1,087.
What was the median gross rent in Madison in 2020?
In 2020, the median gross rent in Madison, Wisconsin was $1,130 per month.
What is the price-to-rent ratio in Madison, Wisconsin?
The price-to-rent ratio in Madison, Wisconsin is about 25.9, meaning it would take roughly 25.9 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Madison.
Are home prices or rent rising faster in Madison, Wisconsin?
Both home prices and rent are rising in Madison, up about 12.0% and 5.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Madison, Wisconsin?
42.8% of households in Madison, Wisconsin own their home, lower than the Wisconsin average of 60.5%.
What is the vacancy rate in Madison, Wisconsin?
The housing vacancy rate in Madison, Wisconsin is 4.0%, lower than the Wisconsin average of 10.8%.
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