Average Rent in Madison, WI↑ Rents rising 7.3% YoY🔺 Most expensive in WI

Madison, WI has rental prices ranging from $1,080/month to $2,161/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $1,282/month — 8% below the national average of $1,400/month. With a median household income of $86,827/year, spending $1,282/month on a 1-bedroom represents 18% of gross income — within the recommended 30% threshold.

How Madison Compares

With an average 2-bedroom rent of $1,472/month, Madison ranks #1 most expensive of the 63 cities tracked in Wisconsin — pricier than 91% of all US cities in our data.

The Madison Rental Market

The Madison, WI area has a population of about 683,967 and 39% of households renting rather than owning. That renter share runs above the US average of ~34%, pointing to a competitive rental market where vacancies clear quickly and rents are less negotiable.

Rent Trends

2-bedroom rents in Madison, WI have risen by $100/month (7.3%) over the past year, from $1,372 to $1,472. This modest growth is consistent with broader inflationary trends seen across US rental markets.

Affordability

To afford a 1-bedroom apartment in Madison, WI without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $51,280. The local median household income of $86,827 exceeds that threshold by $35,547, making Madison relatively accessible compared to local wages.

Rent vs. Buy

The median home value in Madison, WI is $435,128, giving a price-to-rent ratio of 24.6. With a break-even horizon of approximately 25 years, renting is likely the more financially prudent option for most residents unless they plan to stay long-term.

Neighborhoods

Home values — and by extension rent levels — vary significantly across Madison's neighborhoods. Among the highest-value areas are Sherman Terrace Condominum ($205,061 median home value), Marbella Condominum ($213,484 median home value), East Bluff ($213,883 median home value). Rental prices typically follow home value patterns, with premium neighborhoods commanding higher rents than outer areas. Renters on a tighter budget may find better value in less central neighborhoods or in adjacent metros with lower overall rent levels.

Is Madison, WI Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Madison?

Break-even analysis and mortgage estimates based on local market data.

Living in Madison

Cost of living, job market, crime rates, and moving cost estimates.