Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 3,421 people, 1,391 houses or apartments, and a median cost of homes of $254,911, Madison real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Madison, accounting for 81.71% of the village's housing units. Other types of housing that are prevalent in Madison include row houses and other attached homes ( 9.18%), duplexes, homes converted to apartments or other small apartment buildings ( 7.02%), and a few large apartment complexes or high rise apartments ( 2.09%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Madison. Owner-occupied housing accounts for 89.99% of Madison's homes, and 74.97% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Madison built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Madison built between 2000 and later ( 23.85%). A lesser amount of the housing stock also hails from between 1940-1969 ( 17.39%). There's also some housing in Madison built before 1939 ( 16.55%).
Real estate appreciation rates in Madison's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.41% during the period.
NeighborhoodScout's data show that during the latest twelve months, Madison's appreciation rate, at 7.92%, has been at or slightly above the national average. In the latest quarter, Madison's appreciation rate has been 0.89%, which annualizes to a rate of 3.60%.
Relative to Ohio, our data show that Madison's latest annual appreciation rate is higher than 50% of the other cities and towns in Ohio.
One very important thing to keep in mind is that these are average appreciation rates for the village. Individual neighborhoods within Madison differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Madison - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Madison real estate investment or home purchase decisions.
$254,911
$1,447 / per month