How many apartments are available in Madison, WI on Rentable.co?

Rentable.co has over 36,783 apartments available in Madison.

What is the average rent for a studio apartment in Madison, WI?

The average rent for a studio apartment in Madison is around $1,090 per month.

What is the average rent for a one-bedroom apartment in Madison, WI?

The average rent for a one-bedroom apartment in Madison is around $1,450 per month.

What is the average rent for a two-bedroom apartment in Madison, WI?

The average rent for a two-bedroom apartment in Madison is around $1,650 per month.

How expensive is living in Madison, WI?

Based on average rent prices in Madison, to afford a studio apartment you would need an annual salary of $44,000 to live comfortably.

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Madison:
June Rent Report

Welcome to the June 2023 Madison Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the June 2023 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 Increase From May to June

Madison rent prices increased over the last month. From May to June, the city experienced a 3.2% increase for the price of a one-bedroom apartment. The rent price for a Madison one-bedroom apartments currently stands at $1,451.0.

When we take a look at the two-bedroom comparison from May to June, Madison experienced a 0.63% increase for the price of a two-bedroom apartment. The rent price for a Madison two-bedroom apartments currently stands at $1,610.0.

June Prices: Madison vs. Surrounding Areas

Rent Prices in Madison and Surrounding Areas

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 5 of the Madison suburbs increased last month. On the other hand, 1 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

Rent increased in Fitchburg, WI, Middleton, WI, Sun Prairie, WI, Verona, WI, Waunakee, WI .
Rent decreased in De Forest, WI.
2 suburbs are currently priced higher than the city of Madison.
4 suburbs are currently priced lower than the city of Madison.

June 2023 Pricing Trends: Madison vs. National Comparisons

Madison Rent Prices More Affordable Than Major Cities

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.

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 June	1 BR M/M % Change	2 BR June	2 BR M/M % Change
Madison, WI	$1,406.0	6.44%	$1,600.0	2.63%
Fitchburg, WI	$1,311.0	3.80%	$1,439.0	0.91%
Middleton, WI	$1,645.0	2.62%	$2,096.0	3.10%
Sun Prairie, WI	$1,399.0	2.27%	$1,470.0	-0.34%
Verona, WI	$1,373.0	15.28%	$1,736.0	16.51%
De Forest, WI	$1,517.0	-0.39%	$1,923.0	1.10%
Waunakee, WI	$1,360.0	1.27%	$1,739.0	0.00%

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.