Madison Real Estate Market Overview
Average Monthly Rent:
$1,262
Percentage Change in Home Price/Value:
2.30%
Median Home Value:
$256,900
Best Time To Sell Home:
August
Affordability Index:
166.7
Days To Sell House:
64.42
Job Market:
Fair
Public School Ranking:
11
Location and Weather
Set among rolling hills, Madison is surrounded by a network of lakes and rivers, including Lake Mendota and Lake Monona. There is a network of bike trails that connect the entire city and since it’s known to be beautiful weather year-round, Madison is a picturesque city to live and work in.
The Madison summers are mild and outdoor friendly, with highs in the mid 70’s and lows in the mid 60’s. The winters are cold, windy and dry, with a high temperature in the mid-40’s and low temperatures in the mid-teens.
Population, Job Market and Cost of Living
Madison is the fastest growing municipality in Wisconsin. The population in 2018 was 258,054, with a growth rate of 1.01%. The job growth has increased by .69% over last year and in ten years, is predicted to be at 37.91%.The largest employers are UW Health, University of Wisconsin - Madison and American Family Insurance. The cost of living is moderate, due to the Madison real estate market and availability of housing.
Considering its location on the beautiful Lake Mendota, its industries in advanced manufacturing, steady job growth, and moderate cost of living, Madison will continue to attract students and new residents.
