Madison, WI
Dane County · Pop. 269,840
Ranked #108 of 243 cities
42Moderate
Median Home Price
🏠$360K
4.0% YoY
Median Rent
🔑$1,500
3.0% YoY
Median Income
💰$68K
Rent Burden
📊29.5%
% of income to rent
Income to Buy
🏦$104K
annual income needed
Income to Rent
📝$60K
annual income needed
Price-to-Income
⚖️5.3x
Homeownership
🏡48.0%
Rent vs. Buy
Buy
$1,916/mo
Est. mortgage (7%, 20% down)
Need $104K/yr income
Rent
$1,500/mo
Median rent
Need $60K/yr income
How Madison Compares
| Metric | Madison | Wisconsin | National |
|---|---|---|---|
| Home Price | $360K | $273K | $410K |
| Rent | $1,500 | $1,071 | $1,500 |
| Income | $68K | $75K | $75K |
| Rent Burden | 29.5% | 29.0% | 30.0% |
Key Takeaways
- • Home prices in Madison are 12% lower than the national average.
- • Rent is about average than the national average.
- • You need an income of $104K to comfortably buy a home here.
- • The homeownership rate is 48.0%, compared to 65.0% nationally.