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Madison

Learn about the people, housing, costs and businesses in Madison

Median Home$383,125
Median Rent$1,330/month
Population691,830
Leading IndustriesArts, Food & Hospitality · Healthcare · Professional Services13% arts, food & hospitality
Home Value Growth⬆⬆+18.3% over 2 years
Young Adults34% of residentsabove average nationally
Homeowners60% of occupied units
NotableHighly Educated30% bachelor's · 13% graduate · top 3% nationally
NotableTransit71/100 · excellent transit access
Madison

Frequently Asked Questions

What are today's mortgage rates in Madison?

Mortgage rates for Madison are updated daily on Safe Rate using live investor pricing. Rates depend on your credit score, loan type (Conventional, FHA, VA, Jumbo), and down payment. A 30-year fixed rate is the most common product for home purchases.

View current rates for Madison
What is the median home price in Madison?

The median home value in Madison is $383k. The median monthly rent is $1,330. Annual property taxes average $6k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Madison?

Home values in Madison have increased 18.3% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Madison?

Based on a typical all-in ownership cost of $1,521/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $65k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Madison is $94k/year.

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What industries drive the economy in Madison?

The largest employment sectors in Madison are public administration (27%) and healthcare (15%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.