The Bassett Neighborhood is a tale of two distinct neighborhoods grouped into one.
Everything north of W. Washington Ave including W. Mifflin St. (known for its infamous Mifflin Street Block Party), is dominated by UW undergraduate students.
Though less raucous than its State-Langdon neighborhood counterpart, this areas close proximity to campus and history as a hub of UW student activity make it a strong student encampment.
However, as you move away from the UW campus and toward the Capitol or Lake Monona this neighborhood turns from a Big10 neighborhood into a more typical Madison one, with a mix of older houses (some in decent shape, some not so much) and apartment buildings that range from high-end luxury to cheap studio apartments.
As a result, wide swaths of different people call the southern part of this neighborhood home, from students to professionals to hippies to seniors.
People of all shapes and sizes agree on the Bassett Neighborhood's greatest advantage: being within walking distance to all of downtown Madison.
If you're not sure how much an apartment will cost, the table below shows the average price by size.
Welcome to the May 2021 Madison Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the May 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.
Madison rent prices increased over the last month. From April to May, the city experienced a 3.83% increase for the price of a one-bedroom apartment. The rent price for a Madison one-bedroom apartments currently stands at $1,167.0.
When we take a look at the two-bedroom comparison from April to May, Madison experienced a 0.42% increase for the price of a two-bedroom apartment. The rent price for a Madison two-bedroom apartments currently stands at $1,447.0.
Rent prices have increased 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, 3 local areas experienced a decrease in the price of a one-bedroom apartment.
More key findings include:
Rent increased in Sun Prairie, WI, Verona, WI, Waunakee, WI .
Rent decreased in Middleton, WI, Fitchburg, WI, Maple Bluff, WI.
6 suburbs are currently priced higher than the city of Madison.
Rent growth in Madison over the past year has been on the rise. 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 May 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.
|1 BR May||1 BR M/M % Change||2 BR May||2 BR M/M % Change|
|Sun Prairie, WI||$1,221.0||1.33%||$1,436.0||2.13%|
|Maple Bluff, WI||$1,666.0||-0.60%||$3,060.0||0.00%|
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.