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Madison:
October Rent Report

Welcome to the October 2020 Madison Apartment Report. In this assessment of the local rental market, ABODO data scientists and rental experts break down the October 2020 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 rent prices in the chart below.

Monthly Rent Report

Madison Rent Prices Increase From September to October

Madison rent prices increased over the last month. From September to October, the city experienced a 0.35% increase for the price of a one-bedroom apartment. The rent price for a Madison one-bedroom apartments currently stands at $1,157.0.

When we take a look at the two-bedroom comparison from September to October, Madison experienced a 0.07% increase for the price of a two-bedroom apartment. The rent price for a Madison two-bedroom apartments currently stands at $1,384.0.

October 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 4 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 Fitchburg, WI, Middleton, WI, Cottage Grove, WI, Maple Bluff, WI .

  • Rent decreased in Sun Prairie, WI, Verona, WI, Waunakee, WI.

  • 6 suburbs are currently priced higher than the city of Madison.

  • 1 suburb is currently priced lower than the city of Madison.

October 2020 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 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 ABODO's October 2020 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 October 1 BR M/M % Change 2 BR October 2 BR M/M % Change
Madison, WI $1,153.0 0.09% $1,383.0 0.07%
Fitchburg, WI $1,245.0 0.08% $1,441.0 -1.10%
Middleton, WI $1,326.0 0.53% $1,633.0 2.19%
Sun Prairie, WI $1,163.0 -1.02% $1,459.0 -0.55%
Verona, WI $1,039.0 -2.62% $1,288.0 0.55%
Cottage Grove, WI $1,159.0 1.93% $1,478.0 1.72%
Waunakee, WI $1,221.0 -0.73% $1,543.0 -4.58%
Maple Bluff, WI $1,678.0 0.12% $3,060.0 0.00%

Methodology

Each month, using over 1 million ABODO 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.