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Madison:
A Local Perspective

Madison is a progressive, fast-growing city and is home to the University of Wisconsin and the Wisconsin State Capitol. It is located on an isthmus and surrounded by four lakes, the largest being Lake Monona and Lake Mendota.

Well known for its active lifestyle, Madison has an extensive network of trails, parks, and natural areas; it is also an ideal place for bikers and pedestrians. The downtown Madison area has a wide selection of restaurants, bars, museums, music venues, and local businesses.

Finding a Madison Apartment

When to search

Madison is Wisconsin's fastest growing city, so housing can get pretty competitive. Most leases begin August 1st or 15th, but try to begin your apartment hunting in November to have the best selection.

Staying in the know

Neighborhoods

You're likely to live, play, and shop in your neighborhood. The UW Madison campus and student housing occupies a fourth of the city, while the business professional downtown areas and hipster east-side comprise almost all the rest. Here's some of the most popular neighborhoods to help you get sorted.

Apartments in Cities Near Madison



Rentable Office Location 316 W Washington Ave, Suite 700 Madison, WI 53703 (608) 433-0059

Madison:
September Rent Report

Welcome to the September 2021 Madison Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the September 2021 key findings and figures for the Madison rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Madison and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Madison average rent prices in the chart below.

Monthly Rent Report

Madison Rent Prices Decrease From August to September

Madison rent prices decreased over the last month. From August to September, the city experienced a -2.24% decrease for the price of a one-bedroom apartment. The rent price for a Madison one-bedroom apartments currently stands at $1,176.0.

When we take a look at the two-bedroom comparison from August to September, Madison experienced a -2.13% decrease for the price of a two-bedroom apartment. The rent price for a Madison two-bedroom apartments currently stands at $1,380.0.

September Prices: Madison vs. Surrounding Areas

Rent Prices in Madison and Surrounding Areas

Rent prices have decreased in Madison over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 3 of the Madison suburbs increased last month. On the other hand, 4 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

  • Rent increased in Middleton, WI, Fitchburg, WI, Maple Bluff, WI .

  • Rent decreased in Sun Prairie, WI, Verona, WI, Waunakee, WI, Cottage Grove, WI.

  • 5 suburbs are currently priced higher than the city of Madison.

  • 2 suburbs are currently priced lower than the city of Madison.

September 2021 Pricing Trends: Madison vs. National Comparisons

Madison Rent Prices More Affordable Than Major Cities

Rent growth in Madison over the past year has been declining. When compared to major cities nearby, along with some of the most expensive cities in the country, Madison average rent prices appear to be relatively affordable for local residents.

The price for a Madison one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

You can view the full rundown of Rentable's September 2021 National Apartment Report and data set here.

For more information about Madison and surrounding area rent prices, take a look at the complete data set below.

Data set for Madison and suburbs

1 BR September 1 BR M/M % Change 2 BR September 2 BR M/M % Change
Madison, WI $1,203.0 -0.82% $1,410.0 -1.47%
Middleton, WI $1,325.0 0.61% $1,675.0 -0.06%
Fitchburg, WI $1,243.0 0.57% $1,425.0 -0.63%
Sun Prairie, WI $1,213.0 -0.08% $1,492.0 1.02%
Verona, WI $1,206.0 0.00% $1,371.0 -2.77%
Maple Bluff, WI $1,658.0 0.18% $3,060.0 0.00%
Waunakee, WI $1,172.0 -2.01% $1,698.0 -0.12%
Cottage Grove, WI $1,114.0 -0.27% $1,502.0 0.07%

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.