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New Madison

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

Median Home$159,300
Median Rent$863/month
Population771
Leading IndustriesRetail · Finance & Insurance · Information & Media20% retail
Home Value Growth⬆⬆⬆+44.9% over 2 years
Family-Friendly22% of residents
Homeowners82% of occupied units
New Madison
OH

Frequently Asked Questions

What are today's mortgage rates in New Madison?

As of today, the 30-year fixed mortgage rate for New Madison is approximately 6.995% (7.035% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in New Madison?

The median home value in New Madison is $159k. The median monthly rent is $863. Annual property taxes average $1k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in New Madison?

Home values in New Madison have increased 44.9% 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 New Madison?

Based on a typical all-in ownership cost of $881/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $38k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in New Madison is $76k/year.

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What industries drive the economy in New Madison?

The largest employment sectors in New Madison are retail (20%) and public administration (18%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.