In Madison, a typical home is worth $372,900 and typical rent is $1,413 a month. Compared with all of Dane County, typical household income is 13% lower, the typical home value is 6% lower, and the share of households that own their home is 11 points lower.
Typical home value from Zillow, September 2021 to September 2026: from $332,514 to $424,543.
Typical rent
$1,837a month
▲ 1.8% more than 12 months ago
Typical rent from Zillow, September 2021 to September 2026: from $1,411 to $1,837.
From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).
Madison is in Dane County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Dane County. See the county
What this place has that others do not, from public data, most unusual first.
1
Madison has the 7th lowest homeownership rate of the 156 cities in Wisconsin with more than 5,000 people (46%).
Sources: U.S. Census Bureau (Average 2020–2024).
The homes here
Housing in Madison
What homes there are in Madison, what they cost, how that changed and how people live, from Census figures (2020–2024).
What homes there are
U.S. Census Bureau, ACS 5-year, 2020–2024
Kind of home
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Madison
Dane County
Wisconsin
United States
Kind of home: Madison and its comparisons
Measure
Madison
Dane County
Wisconsin
United States
Detached house
40%
51%
66%
61%
Attached house
5%
7%
4%
6%
Building of 2 to 4
11%
9%
9%
8%
Apartments (5 or more)
44%
34%
17%
19%
Mobile home
1%
1%
3%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
In Madison, the apartment is the most common kind of home: 44%, against 34% in Dane County.
Year built
Before 19601960–19791980–19992000–20092010 or later
Madison
Dane County
Wisconsin
United States
Year built: Madison and its comparisons
Measure
Madison
Dane County
Wisconsin
United States
Before 1960
26%
21%
33%
26%
1960–1979
24%
23%
24%
24%
1980–1999
21%
24%
22%
25%
2000–2009
15%
17%
13%
14%
2010 or later
14%
16%
9%
11%
Homes in Madison are older: the typical year built is 1980; in Dane County, 1986.
There are fewer big homes in Madison than in Dane County: 44% have 3 bedrooms or more, against 54%.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Under the limitOver the limit
Under $100K3%
$100K–$200K7%
$200K–$300K20%
$300K–$500K48%
$500K–$750K16%
FHA limit: $541,287
$750K–$1M4%
$1M or more2%
Value of owner-occupied homes: Madison and its comparisons
Measure
Madison
Under $100K
3%
$100K–$200K
7%
$200K–$300K
20%
$300K–$500K
48%
$500K–$750K
16%
$750K–$1M
4%
$1M or more
2%
By price, most homes in Madison sit under the FHA limit for Dane County ($541,287): about 81%.
Monthly rent with utilities
Under the limitOver the limit
Under $5003%
$500–$99914%
$1,000–$1,49940%
$1,500–$1,99928%
HUD fair market rent, 2 bedrooms: $1,565
$2,000–$2,4999%
$2,500–$2,9993%
$3,000 or more3%
Monthly rent with utilities: Madison and its comparisons
Measure
Madison
Under $500
3%
$500–$999
14%
$1,000–$1,499
40%
$1,500–$1,999
28%
$2,000–$2,499
9%
$2,500–$2,999
3%
$3,000 or more
3%
About 61% of rented homes in Madison cost less than HUD's 2-bedroom fair market rent for Dane County ($1,565); the rest cost more.
With a mortgage
$2,098 a month
Dane County: $2,200 a month
Without a mortgage
$936 a month
Dane County: $901 a month
Owners with a mortgage
67%
Dane County: 68%
Owning costs about the same in Madison as in Dane County: with a mortgage, $2,098 a month; without one, $936.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Madison+51%
Dane County+49%
Wisconsin+48%
United States+53%
Typical rent
Madison+26%
Dane County+29%
Wisconsin+27%
United States+33%
Typical household income
Madison+20%
Dane County+22%
Wisconsin+26%
United States+29%
Change since 2015–2019: Madison and its comparisons
Measure
Madison
Dane County
Wisconsin
United States
Typical home value
+51%
+49%
+48%
+53%
Typical rent
+26%
+29%
+27%
+33%
Typical household income
+20%
+22%
+26%
+29%
The typical home value in Madison rose 51% since 2015–2019, about the same as in Dane County (49%).
The typical rent in Madison rose 26% since 2015–2019, about the same as in Dane County (29%).
Housing prices ran ahead of income in Madison: typical income rose 20%, against +51% for home values and +26% for rent.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Madison and its comparisons
Measure
Madison
Dane County
Wisconsin
United States
Rental vacancy
3.3%
2.9%
4.5%
5.5%
Homeowner vacancy
Unreliable estimate
0.4%
0.5%
0.9%
More than one person per room
1.9%
1.6%
1.7%
3.4%
People per household
2.06
2.21
2.33
2.53
Drive alone
57%
64%
74%
69%
Carpool
6%
6%
7%
9%
Public transit
5%
3%
1%
3%
Walk or bike
11%
7%
3%
3%
Work from home
21%
20%
13%
15%
Other means
1%
1%
1%
2%
Typical commute
10 to 19 minutes
Unreliable estimate
10 to 19 minutes
20 to 29 minutes
In Madison, the rental vacancy rate is 3.3%, about the same as in Dane County.
More than one person per room: that is how 1.9% of households in Madison live, near the figure in Dane County (1.6%).
Households in Madison are smaller: 2.06 people on average; in Dane County, 2.21.
Many here get to work on foot or by bike: 11%, more than in Dane County (7%).
Do the math
What would you pay each month for a home in Madison?
A typical home costs more than the typical income allows
We start with a typical home in Madison, worth $372,900, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 51% of the typical household income in Madison, which is $78,050 a year. For that payment to be 28% of income, a household would need to earn about $143,336 a year.
The calculator's FHA and conventional loan limits are those of all of Dane County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Madison. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $13,052 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$3,345
at 7.18% · 30 years
Loan amount
$366,145
Total interest
$526,797
Paid off in
November 2056
Includes $6,297 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $1,821 a month
Tight
$1,821 to $2,342 a month
Hard
more than $2,342 a month
Your payment · 51%
Compared with the typical household income in Madison ($78,050 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$2,480
Property tax
$544
Home insurance
$155
FHA mortgage insurance (MIP)
$165
You need at least $13,052 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $3,345; principal and interest $2,480.
The city and its county
Madison and Dane County
Madison is in Dane County, Wisconsin. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).
Madison
Map of Dane County, Wisconsin, with Madison marked. Around it, the neighboring counties.
Madison
Dane County
Other cities with a page
Madison's own numbers
Typical home value
$372,900
Typical monthly rent
$1,413
Typical yearly household income
$78,050
Households that own their home
46%
Effective property tax rate
1.75%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Dane County
FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,565
Price change over 5 years (FHFA)
+54%
Homes in a high flood-risk zone
0.5%
HUD, FHFA and FEMA don't publish these numbers by city.
Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Dane County.
A typical home in Madison is worth $372,900: 6% below the county and 40% above Wisconsin. With the typical household income in Madison ($78,050 a year), a typical home costs 4.8 times what the household earns in a year.
Years of income to pay for a typical home
The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.
Madison4.8 years
Dane4.4 years
Wisconsin3.4 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Dane County
According to FHFA’s house price index, home prices in Dane County rose 93% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Dane County.
Yearly change in FHFA’s price index in Dane County, 2016 to 2025
2016: +5.3% +5.3% 2016
2017: +6.1% +6.1% 2017
2018: +5.6% +5.6% 2018
2019: +3.7% +3.7% 2019
2020: +2.7% +2.7% 2020
2021: +9.5% +9.5% 2021
2022: +14.9% +14.9% 2022
2023: +9.9% +9.9% 2023
2024: +6.7% +6.7% 2024
2025: +4.1% +4.1% 2025
Change in FHFA’s price index in Dane County, Wisconsin and the United States
Period
County
Wisconsin
U.S.
Last year (2025)
+4.1%
+5.4%
+2.9%
5 years (2020–2025)
+54%
+57%
+47%
10 years (2015–2025)
+93%
+96%
+85%
The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
Madison next to Dane County, Wisconsin and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Madison$372,900
Dane$394,800
Wisconsin$266,500
United States$332,700
Typical monthly rent
Madison$1,413
Dane$1,398
Wisconsin$1,087
United States$1,413
Typical yearly household income
Madison$78,050
Dane$89,975
Wisconsin$77,485
United States$80,734
See the full table
Madison next to Dane County and Wisconsin
Measure
Madison
Dane County
Wisconsin
U.S.
Typical home value
$372,900 ▼6% below the county
$394,800
$266,500
$332,700
Typical monthly rent
$1,413
$1,398
$1,087
$1,413
Typical yearly household income
$78,050 ▼13% below the county
$89,975
$77,485
$80,734
Households that own their home
46% ▼11 points below the county
57%
68%
65%
Typical yearly property tax
$6,541
$6,420
$3,792
$3,119
Effective property tax rate
1.75% ▲0.12 points above the county
1.63%
1.42%
0.94%
Renters with high rent for their income
50% ▲2 points above the county
48%
44%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Dane County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.
Four ways to pay for a typical home in Madison
For a typical $372,900 home in Madison, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Madison's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$3,345a month
Least cash to close
Down payment
$13,052
Cash to close
$24,239
Rate
7.18%
Mortgage insurance
FHA MIP · $165
Conventional, 5% down$3,276a month
Down payment
$18,645
Cash to close
$29,832
Rate
7.18%
Mortgage insurance
PMI · $177
Conventional, 20% down, no PMI$2,720a month
Down payment
$74,580
Cash to close
$85,767
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$3,065a month
Down payment
$55,935
Cash to close
$67,122
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Madison
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$3,345
$13,052
$366,146
7.18%
FHA MIP · $165
$24,239
580
Conventional, 5% down
$3,276
$18,645
$354,255
7.18%
PMI · $177
$29,832
620*
Conventional, 20% down, no PMI
$2,720
$74,580
$298,320
7.18%
None
$85,767
620*
ITIN, 15% down (example)
$3,065
$55,935
$316,965
8.18%
None
$67,122
Set by the lender
The option that asks for the least cash to close is FHA, 3.5% down.
Cash to close = down payment plus 3% of the price in closing costs (example).
Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.
Typical rent in Madison is $1,413 a month: about the same as the county. In Madison, 50% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Dane County, by unit size. To pay the 2-bedroom one ($1,565 a month) without spending more than 30% of your income, you would need to earn $30.10 an hour working full time.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Dane County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$1,196
$23.00
$47,840
1 bedroom
$1,375
$26.44
$55,000
2 bedrooms
$1,565
$30.10
$62,600
3 bedrooms
$2,047
$39.37
$81,880
4 bedrooms
$2,264
$43.54
$90,560
Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027
By ZIP code
Fair market rent by ZIP code in Madison
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Madison has 13 ZIP codes with their own.
For 2 bedrooms it runs from $1,530 in 53704 to $1,900 in 53715.
9 of the 13 are above the fair market rent for Dane County ($1,565).
2-bedroom fair market rent in each of the 13 ZIP codes of Madison, beside the one for Dane County. For 2 bedrooms it runs from $1,530 in 53704 to $1,900 in 53715. 9 of the 13 are above the fair market rent for Dane County ($1,565).
2-bedroom fair market rent in each ZIP code
Each line is one ZIP code: in color, those above the county's fair market rent; in gray, the rest.
County: $1,565
Lowest: $1,530 (53704)Highest: $1,900 (53715)
Fair market rent by ZIP code and size in Madison, fiscal year 2027.
53703
$1,430
$1,640
$1,870
$2,450
$2,710
53704
$1,150
$1,340
$1,530
$2,020
$2,260
53705
$1,220
$1,400
$1,590
$2,080
$2,300
53706
$1,330
$1,530
$1,750
$2,310
$2,590
53713
$1,150
$1,340
$1,530
$2,020
$2,260
53714
$1,150
$1,340
$1,530
$2,020
$2,260
53715
$1,450
$1,670
$1,900
$2,500
$2,800
53716
$1,150
$1,340
$1,530
$2,020
$2,260
53717
$1,280
$1,470
$1,670
$2,180
$2,420
53718
$1,410
$1,630
$1,850
$2,420
$2,680
53719
$1,380
$1,590
$1,810
$2,370
$2,620
53726
$1,270
$1,480
$1,700
$2,240
$2,510
53792
$1,200
$1,380
$1,570
$2,050
$2,270
ZIP code2 bd3 bd
53703 $1,870$2,450
53704 $1,530$2,020
53705 $1,590$2,080
53706 $1,750$2,310
53713 $1,530$2,020
53714 $1,530$2,020
53715 $1,900$2,500
53716 $1,530$2,020
53717 $1,670$2,180
53718 $1,850$2,420
53719 $1,810$2,370
53726 $1,700$2,240
53792 $1,570$2,050
7 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Madison when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD)Fiscal year 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
HUD lists 86 buildings with rents for lower incomes in Madison. These are the largest.
Bjarnes Romnes Apartments540 W Olin Ave, Madison 53715265 homes, 262 low-income · Run by Madison Community Development Authority · Average payment: $464 a month · Average wait: 40 months(608) 266-4675
Wexford Ridge7002 Tree Ln, Madison 53717246 low-income homes · For families(608) 833-2900
Brittingham-Gay Braxton Apartments755 Braxton Pl, Madison 53715224 homes, 222 low-income · Run by Madison Community Development Authority · Average payment: $381 a month · Average wait: 29 months(608) 266-4675
Capitol Centre333 W Dayton St, Madison 53703200 low-income homes · For older adults(608) 255-5311
Scattered Site1225 E Gorham St, Madison 53703163 homes, 159 low-income · Run by Madison Community Development Authority · Average payment: $483 a month · Average wait: 41 months · Homes at several sites(608) 266-4675
You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.
There are 3 HUD-approved agencies with an office in Dane County; 2 say they serve in Spanish.
No down payment, repair or rent-help program on our list is for Madison or Dane County. The ones below are statewide in Wisconsin: they work in Madison the same as in the rest of the state.
Wisconsin state agency second mortgage for the down payment: up to 6% of the price, over 10 years with a monthly payment and the same rate as the WHEDA first mortgage.Offered by Wisconsin Housing and Economic Development Authority (WHEDA).
$7,500 loan from the Wisconsin state agency for the down payment and closing costs, over 30 years, at 0% and with no monthly payments, alongside a WHEDA mortgage; limited funds, first come, first served.Offered by Wisconsin Housing and Economic Development Authority (WHEDA).
No legal help resource on our list is for Madison or Dane County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Madison and all of Dane County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.
How much does a typical home cost in Madison?
The typical home value in Madison is $372,900, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Dane County it is $394,800.
How much does it cost to rent in Madison?
Typical rent in Madison is $1,413 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Dane County is $1,565.
What is the FHA loan limit in Madison?
Madison uses the FHA limit for all of Dane County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.
How much property tax do owners pay in Madison?
The typical homeowner in Madison pays $6,541 a year, according to the U.S. Census Bureau. That is 1.75% of the home’s value; in Dane County, the rate is 1.63%.
Where can I find free help to buy or rent in Madison?
There are 3 HUD-approved counseling agencies with an office in Dane County. 2 say they serve in Spanish. They can help you get ready to buy, with your credit, or with rent.
