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Rental market trends in Madison, WI

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Average Rent in Madison, WI

Average Rent in Madison, WI

Avg. RentAnnual Change
Studio - $1,262-1%
1 Bed - $1,456+1%
2 Beds - $1,887+12%
Last updated 2/29/2024

Average Apartment Cost in Madison, WI

The average rent for apartments in Madison, WI, is between $1,262 and $1,887 in 2024. For a studio apartment in Madison, WI, the average rent is $1,262. When it comes to 1-bedroom apartments, the average rent in Madison, WI, is $1,456. For a 2-bedroom apartment, the average rent is $1,887.

Apartment Rent Ranges in Madison, WI

Apartment PricesProportion
1%
10%
22%
21%
45%

Neighborhood Apartment Rent Trends in Madison, WI

NeighborhoodStudio Avg RentAnnual Change
Junction Ridge$2,099+9%
North West Madison$1,889+35%
Sprecher East$1,870+76%
Tenney-Lapham$1,614+16%
Old Market Place$1,609+16%
Bay Creek$1,502+4%
South Madison$1,497+5%
State Street$1,395--
Isthmus$1,2950%
Mansion Hill$1,295+40%
South Campus$1,2750%
Near West$1,275+14%
North East Madison$1,274+2%
Johnson Street Bend$1,239-12%
McClellan Park$1,2000%
Regent$1,199+8%
South East Madison$1,197+14%
Downtown$1,194+24%
Mifflin$1,194+7%
Door Creek$1,187+15%
Bassett$1,125--
Sandburg$1,125+18%
South West Madison$1,122-2%
Prairie Hills$1,105--
Near East$1,100-8%
Schenk - Atwood$1,095--
First Settlement$1,090--
North Madison$1,090+9%
Ridgewood$1,089+26%
Greenbush$1,065--
James Madison Park$1,022+22%
Leopold$1,020+13%
Rocky Bluff$975--
East Bluff$849--
State-Langdon$8120%
Neighborhood1 Bed Avg RentAnnual Change
Old Market Place$1,879+10%
Tenney-Lapham$1,879+10%
Bay Creek$1,724+4%
North West Madison$1,657+2%
Johnson Street Bend$1,614+3%
Near West$1,564-2%
Schenk - Atwood$1,525+53%
Mansion Hill$1,507+37%
South Madison$1,495-6%
McClellan Park$1,487+2%
South Campus$1,465--
North East Madison$1,464+3%
Sprecher East$1,462+7%
Isthmus$1,457+24%
South West Madison$1,432+15%
South East Madison$1,410+1%
Near East$1,395+36%
Junction Ridge$1,395+4%
Sherman$1,395--
Door Creek$1,395+3%
Vilas$1,375--
Mifflin$1,344+9%
James Madison Park$1,320+66%
Sandburg$1,295+15%
Rocky Bluff$1,275--
Prairie Hills$1,270+8%
Downtown$1,225+13%
North Madison$1,220+32%
Regent$1,219-14%
Ridgewood$1,199+3%
Leopold$1,195--
Marquette$1,150--
Third Lake Ridge Historic District$1,150--
Bram's Addition$1,145+15%
East Bluff$1,100--
Orchard Ridge$1,100--
Berkeley Oaks$1,095--
Waunona$1,045+15%
State-Langdon$1,0120%
State Street$995--
Burr Oaks$975-2%
Bassett$885-20%
Neighborhood2 Beds Avg RentAnnual Change
Bay Creek$2,500+9%
Isthmus$2,197+47%
Schenk - Atwood$2,130--
Bassett$2,100--
Regent$2,039+9%
North West Madison$2,020+4%
Near West$2,000+11%
South Madison$1,962+16%
McClellan Park$1,925+8%
North East Madison$1,919+3%
Sherman$1,895--
James Madison Park$1,875-4%
South West Madison$1,847+14%
Junction Ridge$1,845+19%
Near East$1,750+41%
Rocky Bluff$1,725--
Door Creek$1,705+9%
Mifflin$1,699--
Sprecher East$1,690+8%
Prairie Hills$1,680+10%
South East Madison$1,655-4%
Greenbush$1,600--
Downtown$1,585+19%
Marquette$1,475--
Third Lake Ridge Historic District$1,475--
Leopold$1,450--
Arbor Hills$1,450--
Mansion Hill$1,420--
Ridgewood$1,409+14%
South Campus$1,400+30%
Sandburg$1,395--
State-Langdon$1,3800%
Bram's Addition$1,345+8%
Burr Oaks$1,315+14%
Brentwood Village$1,300+9%
North Madison$1,275--
State Street$1,270--
Waunona$1,254+15%
East Bluff$1,179--
Carpenter - Ridgeway$1,125--

How Other Cities Compare to Madison, WI

CityStudio Avg RentAnnual Change
Middleton$1,369+6%
Verona$1,310+9%
Fitchburg$1,300-4%
McFarland$1,175--
Sun Prairie$1,1620%
Cottage Grove$1,150-7%
Whitewater$1,150--
Stoughton$1,125--
Beloit$1,1240%
Monona$1,105+7%
Oregon$1,095--
Cross Plains$990+12%
Waunakee$985--
Portage$800--
Janesville$775+3%
Baraboo$7100%
City1 Bed Avg RentAnnual Change
Oconomowoc$1,833+29%
Verona$1,615+1%
Middleton$1,613+5%
Fitchburg$1,550-1%
Sun Prairie$1,459+5%
Beloit$1,400+1%
Cottage Grove$1,395+10%
Stoughton$1,375+121%
Monona$1,345+5%
Whitewater$1,295--
Cross Plains$1,117-5%
Delavan$1,074+19%
McFarland$1,047+6%
Janesville$1,040+7%
Oregon$1,020+80%
Waunakee$1,0150%
Beaver Dam$975+15%
Baraboo$890+1%
Watertown$8800%
Jefferson$8800%
Fort Atkinson$849--
Portage$823--
City2 Beds Avg RentAnnual Change
Middleton$2,277+11%
Verona$1,997+1%
Cottage Grove$1,8950%
Fitchburg$1,879+4%
Cross Plains$1,810-20%
Sun Prairie$1,772+5%
Monona$1,740+1%
Stoughton$1,645--
Oconomowoc$1,500-17%
Beloit$1,495+13%
Whitewater$1,495--
Janesville$1,324+6%
Oregon$1,300+119%
Waunakee$1,2500%
McFarland$1,225+3%
Portage$1,135+27%
Delavan$1,105+11%
Beaver Dam$1,045+11%
Baraboo$1,025-12%
Watertown$1,0200%
Jefferson$1,0200%
Lake Mills$975--
Fort Atkinson$945--
Monroe$740--

Madison, WI Rent Trends

Studio1 Bed2 Beds
Feb 2023Mar 2023Apr 2023May 2023Jun 2023Jul 2023Aug 2023Sep 2023Oct 2023Nov 2023Dec 2023Jan 2024Feb 2024
$1274$1274$1274$1274$1284$1284$1289$1322$1364$1356$1347$1279$1275
$1440$1464$1452$1432$1422$1407$1449$1469$1499$1467$1457$1484$1467
$1687$1720$1715$1682$1682$1660$1717$1747$1742$1762$1815$1815$1815
$2373$2604$2579$2325$2475$2497$2497$2562$2502$2365$2360$2245$2229

Neighborhood Information for Madison, WI

What are the most affordable neighborhoods in Madison, WI?

The most affordable neighborhoods in Madison are Bassett, where the average 1-bedroom apartment rent goes for $885, Burr Oaks, where renters pay $975 on average for a 1-bedroom apartment, and State Street, where the average 1-bedroom apartment rent goes for $995. If you're looking for other great deals, check out the listings in State-Langdon ($1,012 for a 1-bedroom apartment) or Waunona ($1,045 for a 1-bedroom apartment), compared to the $1,456 average for a Madison 1-bedroom apartment.

What are the most expensive neighborhoods in Madison, WI?

The most affordable neighborhoods in Madison are First Settlement, where the average 1-bedroom apartment rent goes for $2,799, Old Market Place, where renters pay $1,879 on average for a 1-bedroom apartment, and Tenney-Lapham, where the average 1-bedroom apartment rent goes for $1,879. If you're looking for other great deals, check out the listings in Bay Creek ($1,724 for a 1-bedroom apartment) or North West Madison ($1,657 for a 1-bedroom apartment), compared to the $1,456 average for a Madison 1-bedroom apartment.

What are the most popular neighborhoods in Madison, WI?

The most popular neighborhoods in Madison are Near West, where the average 1-bedroom apartment rent goes for $1,564, Regent, where renters pay $1,219 on average for a 1-bedroom apartment, and Rocky Bluff, where the average 1-bedroom apartment rent goes for $1,275. If you're looking for other popular neighborhoods, check out the listings in Vilas ($1,375 for a 1-bedroom apartment) or South Campus ($1,465 for a 1-bedroom apartment), compared to the $1,456 average for a Madison 1-bedroom apartment.

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