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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 272,903, 120,509 total housing units (homes and apartments), and a median house value of $480,968, Madison real estate is some of the most expensive in Wisconsin, although Madison home values aren't among America's most expensive.
Large apartment complexes or high rise apartments are the single most common housing type in Madison, accounting for 41.98% of the city's housing units. Other types of housing that are prevalent in Madison include single-family detached homes ( 41.16%), duplexes, homes converted to apartments or other small apartment buildings ( 11.38%), and a few row houses and other attached homes ( 4.94%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.
People in Madison primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Madison has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Madison built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Madison built between 1940-1969 ( 25.28%). A lesser amount of the housing stock also hails from between 2000 and later ( 25.22%). There's also some housing in Madison built before 1939 ( 13.93%).
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 95.96%, which ranks in the top 40% nationwide. This equates to an annual average Madison house appreciation rate of 6.96%.
NeighborhoodScout's data show that during the latest twelve months, Madison's appreciation rate, at 6.43%, has been at or slightly above the national average. In the latest quarter, Madison's appreciation rate has been 1.71%, which annualizes to a rate of 7.00%.
Relative to Wisconsin, our data show that Madison's latest annual appreciation rate is lower than 60% of the other cities and towns in Wisconsin.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Madison differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Madison - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Madison real estate investment or home purchase decisions.
$480,968
for Wisconsin
for nation
120,509
$1,938 / per month