According to statistics, the population in Madison, WI amounts to 248,856, which shows growth 1% compared to the previous year. The median age of the city’s residents is 31. The average household income is $59,387, shifting growth 5% from the past year, and the average property value in Madison, WI growth 3% to $223,300 throughout the year.
|Number Of Employees||146,106|
|Median Property Value||$223,300|
The average household income in Madison, WI grew from $56,464 to $59,387 in the past year. This data is an estimate based upon 107,890 households in Madison, WI . The chart below presents how household income is distributed in Madison, WI in comparison to the revenue allocation amid households nationally.
According to data from last year, the average property value in Madison, WI shifted from $217,000 to $223,300 throughout the year. The subsequent graph indicates the share of properties in the given price range in Madison, WI in comparison to the median property value in the same price segment across the country. According to the data, the greatest share of Madison, WI properties falls in the '$200,000 to $249,999' range, which is lower than the most significant median property across the country.
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Madison, WI compared to median property taxes around the country. The prevalent amount of property taxes in Madison, WI equals $3000, which is less than the national average.
|Apartment Size||May||vs Last Month|
|Studio for sale||$141,197||N/A|
|1 bed for sale||$320,854||+53.8%|
|2 bed for sale||$315,573||+8.5%|
|3 bed for sale||$386,076||+11.4%|
|4+ bed for sale||$538,090||+8.5%|
During May 2022, the average price for an apartment in/near Madison, WI increased by 9% to $402,741.
After collecting all data points, we now see that the average price for 1-bed apartment stands at $320,854 with no changes this month. Asking price for 2-bed apartment remains the same, a place of this size will still cost you $315,573. Reports state that an average 3-bed apartment price did not change, so you can still get yourself one for $386,076. According to statistics, we now see that the 4- and more bed apartments pricing stays the same, so you can still face an estimate price around $538,090 for a big-family home.
|Listing Type||May||vs Last Month|
|Townhouses for sale||$340,572||+33.8%|
|Apartments for sale||$468,061||+34%|
|Lofts for sale||$626,633||+41.7%|
|Houses for sale||$447,528||+13.8%|
|Condos for sale||$340,532||+16.8%|
|Duplexes for sale||$456,391||+27.2%|
|Land for sale||$167,389||N/A|
While assessing the property pricing Madison, WI, you can note that it remains flat with a price tag of $468,061. According to statistics, average house is still $447,528 with no significant changes this month. Condo prices remain stable. Condo for sale is now available for the same pricing as previously — $340,532. An average value of duplex is $456,391, thus a median price for a duplex remains the same this month. The price statistics of lofts have not significantly changed, it now still goes for $626,633. Value of the townhouses didn’t change, the price still starts at $340,572.