Madison, SD 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 Q2 2021. 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, SD Housing Market Trends

With 7,270 people, 2,406 houses or apartments, and a median cost of homes of $157,303, house prices in Madison are solidly below the national average.

Single-family detached homes are the single most common housing type in Madison, accounting for 62.70% of the city's housing units. Other types of housing that are prevalent in Madison include large apartment complexes or high rise apartments ( 20.38%), duplexes, homes converted to apartments or other small apartment buildings ( 9.39%), and a few row houses and other attached homes ( 4.26%).

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.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Madison's housing was primarily built during this period, from the '40s through the '60s. A full 32.36% of the city's housing hails from this era. Other housing ages represented in Madison include homes built between 1970-1999 ( 31.71%) and housing constructed before 1939 ( 28.82%). There's also some housing in Madison built between 2000 and later ( 7.11%).

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 46.86%, which ranks in the top 50% nationwide. This equates to an annual average Madison house appreciation rate of 3.92%.

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 8.04%, 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 2.15%, which equates to an annual appreciation rate of 8.88%.

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

Average Home Values

 

Median Home Value:
$157,303

Madison, SD HOME PRICES

> $1,227,000
0.0%
0.0%
$921,001 - $1,227,000
0.0%
0.0%
$614,001 - $921,000
0.0%
0.0%
$491,001 - $614,000
0.0%
0.0%
$368,001 - $491,000
3.1%
3.1%
$245,001 - $368,000
17.7%
17.7%
$123,001 - $245,000
43.3%
43.3%
$61,001 - $123,000
29.9%
29.9%
$0 - $61,000
6.1%
6.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Average for SD

Value Relative To Nation

Number Of Homes And Apartments:
2,406

Madison Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
SD*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
91.33% 3.06%
3
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$770 / per month

Homeownership Rate

Owners
55.4%
55.4%
Renters
44.6%
44.6%
Vacant
8.5%
8.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
7.1%
7.1%
1970 - 1999
31.7%
31.7%
1940 - 1969
32.4%
32.4%
1939 or Older
28.8%
28.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
62.7%
62.7%
Townhomes
4.3%
4.3%
Small Apt. Buildings
9.4%
9.4%
Apt. Complexes
20.4%
20.4%
Mobile Homes
3.3%
3.3%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.0%
0.0%
1 Bedroom
14.4%
14.4%
2 Bedrooms
30.9%
30.9%
3 Bedrooms
23.9%
23.9%
4 Bedrooms
19.4%
19.4%
5 or more bedrooms
11.4%
11.4%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Madison

Popular Communities Near Madison, SD

Zip Codes in Madison, SD