GITNUX MARKETDATA REPORT 2024

Statistics About The Average Rent In Madison Wi

The average rent in Madison, WI is around $1,300 per month.

Last Updated: June 23, 2024

How we write

In this post, we will explore key statistics regarding the average rent and housing market in Madison, WI. From the average rent for different types of apartments to the cost of living comparisons, vacancy rates, and rent burden on residents, these statistics offer valuable insights into the city’s rental landscape. Let’s dive into the numbers to gain a clearer understanding of Madison’s housing situation.

Statistic 1

"The average rent for a three-bedroom apartment in Madison is $1,848,"

Statistic 2

"The average rent for an apartment in Downtown Madison is $1,658,"

Statistic 3

"The cost of living in Madison is 0.7% above the national average, with housing being the highest factor in the cost of living difference,"

Statistic 4

"The vacancy rate in Madison, WI is approximately 3.1%,"

Statistic 5

"Over half of Madison, WI renters pay 30 percent or more of their income on housing,"

Statistic 6

"The median monthly gross residential rent in Madison, WI was $982 in 2019,"

Statistic 7

"Large apartment buildings are the most common housing type in Madison, making up 45.29% of the city's housing units,"

Statistic 8

"In 2020, about 56.22% of the population of Madison, WI were renters,"

In conclusion, the statistics reveal a clear picture of the rental market in Madison, WI. With a higher than national average cost of living driven mainly by housing costs, it is not surprising that over half of renters in the city dedicate 30% or more of their income towards housing. The average rent for a three-bedroom apartment in Madison is notably high at $1,848, with Downtown Madison slightly lower at $1,658. The demand for rental units is reflected in the low vacancy rate of approximately 3.1%, and the prevalence of large apartment buildings as the most common housing type. It is evident that renting is a popular choice in Madison, with renters comprising over half of the city’s population.

Jannik Lindner

Jannik is the Co-Founder of Gitnux and has been working in the digital space since 2016. He is specialized in content and tech.

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