The Marquette Neighborhood is Madison's most iconic and unique neighborhood. When other Wisconsin residents cite Madison as "78 square miles surrounded by reality" they are likely thinking of Willy Street. Its bohemian culture is focused on green issues and politics down to its well worn bike paths and organic, locally sourced restaurants and CSAs. Perhaps there's no greater emblem of the neighborhood's mix of old and new than the Willy Street Co-op, the natural-foods supermarket on the main drag of Williamson Street. Founded in 1974, the Madison icon is on the one hand a countercultural holdover, a redoubt for organic foods and communitarian ideals. Still, the co-op is smartly managed, and its emphasis on local, sustainable agriculture makes it a trendsetter.
If you're not sure how much an apartment will cost, the table below shows the average price by size.
Welcome to the January 2022 Madison Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the January 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 December to January, the city experienced a -0.57% decrease for the price of a one-bedroom apartment. The rent price for a Madison one-bedroom apartments currently stands at $1,052.0.
When we take a look at the two-bedroom comparison from December to January, Madison experienced a 0.52% increase for the price of a two-bedroom apartment. The rent price for a Madison two-bedroom apartments currently stands at $1,366.0.
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 2 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, Sun Prairie, WI .
Rent decreased in Fitchburg, WI, Verona, WI, Maple Bluff, WI, Waunakee, WI.
6 suburbs are currently priced higher 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 January 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 January||1 BR M/M % Change||2 BR January||2 BR M/M % Change|
|Sun Prairie, WI||$1,292.0||1.33%||$1,520.0||-0.13%|
|Maple Bluff, WI||$1,680.0||0.00%||$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.