Apartments in Madison

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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

A city bustling with new students and young professionals scrambling to find a place, so housing can get really competitive. If you want the best selection, begin your apartment search in November. Most leases are signed in February to give landlords plenty of breathing room for the strict August 1st and 15th move in date. Madison apartments are available off-season, but expect to increase your budget or lower your expectations. Searching for an apartment can be tough. That's why we scour the web to get all best listings around town. And our team of local experts verify the quality and accuracy of those listings to make sure that you have the best prices, images and information available. So unlike searching for an apartment on Craigslist, you can be sure that Rentable’s apartment listings are safe, trustworthy and accurate.

How to Search

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.



Madison:
August Rent Report

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.

Monthly Rent Report

Madison Rent Prices Decrease From July to August

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.

August 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 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.

August 2022 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 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.

Data set for Madison and suburbs

1 BR August 1 BR M/M % Change 2 BR August 2 BR M/M % Change
Madison, WI $1,203.0 -1.96% $1,412.0 -1.67%
Fitchburg, WI $1,120.0 -6.35% $1,212.0 -7.20%
Middleton, WI $1,384.0 -0.65% $1,764.0 -1.95%
Sun Prairie, WI $1,338.0 0.15% $1,536.0 -1.10%
Verona, WI $1,196.0 -2.13% $1,386.0 1.84%
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%

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.