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.
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.
Finding an apartment can be hard, especially when there are so many choices. With our filters, you can narrow your search by price, floorplan, and amenities. Looking for an apartment building with a fitness center, swimming pool, and easy access to a dog park? We've got you covered.
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.
Welcome to the August 2022 Madison Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the August 2022 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.
Madison rent prices decreased over the last month. From July to August, the city experienced a -5.07% decrease for the price of a one-bedroom apartment. The rent price for a Madison one-bedroom apartments currently stands at $1,142.0.
When we take a look at the two-bedroom comparison from July to August, Madison experienced a -2.83% decrease for the price of a two-bedroom apartment. The rent price for a Madison two-bedroom apartments currently stands at $1,372.0.
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 Sun Prairie, WI, Cottage Grove, WI, De Forest, WI .
Rent decreased in Fitchburg, WI, Middleton, WI, Verona, WI, Maple Bluff, WI.
6 suburbs are currently priced higher than the city of Madison.
1 suburb is currently priced lower than the city of Madison.
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 August 2022 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.
|1 BR August||1 BR M/M % Change||2 BR August||2 BR M/M % Change|
|Sun Prairie, WI||$1,338.0||0.15%||$1,536.0||-1.10%|
|Cottage Grove, WI||$1,243.0||1.47%||$1,720.0||1.42%|
|De Forest, WI||$1,211.0||5.03%||$1,724.0||8.91%|
|Maple Bluff, WI||$1,595.0||-3.10%||$2,943.0||-1.24%|
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.