Madison, WI Rental Market Trends
Highlights
The average rent for an apartment in Madison is $1,297, a 2% increase compared to the previous year.
Average Rent in Madison, WI
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $1,297 | 2% | 844 sq. ft. |
The average size for a Madison, WI apartment is 844 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Madison, WI Apartment Rent Ranges
- $501-$7002%
- $701-$1,00032%
- $1,001-$1,50044%
- $1,501-$2,00014%
- > $2,0009%
Madison, WI Occupied Housing Units
- Renter-occupied Households53%
- Owner-occupied Households46%
59,451 or 53% of the households in Madison, WI are renter-occupied while 50,843 or 46% are owner-occupied.
Madison, WI Rent Trends
| Average Rent | Nov / 2017 | Mar / 2018 | Jul / 2018 | Nov / 2018 | Mar / 2019 | Jul / 2019 | Nov / 2019 | Mar / 2020 | Jul / 2020 | Nov / 2020 | Jan / 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Madison, WI | $1,192 | $1,205 | $1,211 | $1,219 | $1,234 | $1,252 | $1,256 | $1,269 | $1,281 | $1,288 | $1,297 |
| National | $1,309 | $1,311 | $1,342 | $1,351 | $1,356 | $1,388 | $1,395 | $1,397 | $1,389 | $1,392 | $1,392 |
Average Rent in Madison, WI By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| Bay Creek | $1,951 |
| Greenbush | $1,951 |
| Monona Bay | $1,951 |
| South Campus | $1,951 |
| State - Langdon | $1,744 |
| Capitol | $1,686 |
| Tenney - Lapham | $1,686 |
| Marquette | $1,481 |
| Hawk's Landing | $1,293 |
| McClellan Park | $1,290 |
| North - East Park | $1,290 |
| Richmond Hill | $1,290 |
| Lost Creek | $1,283 |
| East Buckeye | $1,277 |
| Token Creek Park | $1,265 |
| Elvehjem | $1,248 |
| Glendale | $1,248 |
| Lake Edge | $1,248 |
| Faircrest | $1,226 |
| Glen Oak Hills | $1,226 |
| Highlands - Appalachian | $1,226 |
| Hill Farms - University | $1,226 |
| Old Middleton Greenway | $1,226 |
| Radio Park | $1,226 |
| Spring Harbor | $1,226 |
| Sunset Village | $1,226 |
| University | $1,219 |
| Regent | $1,208 |
| High Crossing | $1,202 |
| Sprecher East | $1,202 |
| Allied | $1,196 |
| Dudgeon - Monroe | $1,196 |
| Greentree | $1,196 |
| Meadowood | $1,196 |
| Midvale Heights | $1,196 |
| Orchard Ridge Club | $1,196 |
| Prairie Hills | $1,196 |
| Summit Woods | $1,196 |
| Vilas | $1,196 |
| Westmorland | $1,196 |
| Blackhawk | $1,190 |
| Glacier Ridge | $1,189 |
| Newberry Heights | $1,189 |
| Stone Meadows | $1,189 |
| Parkwood Hills | $1,182 |
| Woodlands - Saukborough | $1,182 |
| Oakwood Village | $1,181 |
| Westhaven Trails | $1,173 |
| Country Grove | $1,157 |
| High Point Estates | $1,157 |
| Maple - Prairie | $1,157 |
| Tamarack Trails - Wexford Ridge | $1,148 |
| Cherokee Park | $1,135 |
| Kennedy Heights | $1,135 |
| Berkley Oaks - Majestic Oaks | $1,130 |
| Brentwood Village | $1,130 |
| Carpenter - Ridgeway | $1,130 |
| Cherokee Garden | $1,130 |
| Eken Park | $1,130 |
| Emerson East | $1,130 |
| Lake View Hill | $1,130 |
| Mendota Hills | $1,130 |
| North Lake Mendota | $1,130 |
| Ridgewood | $1,130 |
| Schenk - Atwood | $1,130 |
| Sheridan Triangle - Maple Wood | $1,130 |
| Sherman | $1,130 |
| Sherman Terrace | $1,130 |
| Westchester Gardens - Norman Acres | $1,130 |
| Whitetail Ridge | $1,130 |
| Junction Ridge | $1,127 |
| Oakbridge | $1,127 |
| Walnut Grove | $1,127 |
| Wexford Village | $1,127 |
| Cherokee Marsh | $1,126 |
| Burke Heights | $1,091 |
| Hawthorne | $1,091 |
| Hiestand | $1,091 |
| Mayfair Park | $1,091 |
| Starkweather - Yahara | $1,091 |
| Worthington Park | $1,091 |
| Dunn's Marsh | $1,067 |
| Highland Manor | $1,067 |
| Nakoma League | $1,067 |
| Monona | $1,015 |
| Arbor Hills | $986 |
| Bram's Addition | $986 |
| Broadway - Lakepoint | $986 |
| Burr Oaks | $986 |
| Capitol View Heights | $986 |
| Indian Springs | $986 |
| Leopold | $986 |
| Waunona | $986 |
| Eastmorland | $977 |
| Heritage Heights | $977 |
| Rolling Meadows | $977 |
The most affordable neighborhoods in Madison are Eastmorland, where the average rent goes for $977/month, Heritage Heights, where renters pay $977/mo on average, and Rolling Meadows, where the average rent goes for $977/mo. If you’re looking for other great deals, check out the listings from Arbor Hills ($986), Bram's Addition ($986), and Broadway - Lakepoint ($986), where the asking prices are below the average Madison rent of $1,297/mo.
The most expensive neighborhoods in Madison are Greenbush ($1,951), Monona Bay ($1,951) and South Campus ($1,951).
The most popular neighborhood in Madison is Greenbush, where there are 7 verified RENTCafé listings with an average rent of $1,951. Next up is McClellan Park, where apartments go for $1,290/month, followed by Newberry Heights with $1,189 If you’re looking to rent in Madison’s most popular neighborhoods, make sure to also check out Sherman Terrace, where renters pay $1,130 on average, and Capitol, where the average monthly rent is $1,686.
Madison | Rent Comparison by Neighborhood
Rent in Allied is 21% higher than in Arbor Hills
Allied rent is 8% lower than Madison average
| Average Rent | $1,196 |
|---|
Arbor Hills rent is 24% lower than Madison average
| Average Rent | $986 |
|---|
How Madison Compares to Other Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| Madison | $1,297 | 2% |
| Milwaukee | $1,207 | 1% |
| Fitchburg | $1,098 | 3% |
| Sun Prairie | $1,152 | 3% |
| Racine | $845 | 3% |
| Brookfield | $1,305 | 5% |
| Kenosha | $1,067 | 3% |
| Middleton | $1,186 | 6% |
| Cross Plains | $927 | 2% |
| Monona | $1,015 | 2% |
| Waunakee | $1,202 | 17% |
For more information about the Madison rental trends, check out our monthly rent report
Check out Wisconsin Cities, Wisconsin Neighborhoods and Wisconsin Zip Codes for more details on verified listings, including the Wisconsin Average Rent.
Curious about listings in your area? Check out our apartments near you for more details!