Rents are 3% below what Madison's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,621 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: August 17, 2026
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Who lives here
Madison, WI is roughly split between renters and owners, skews toward younger working-age adults, 59.9% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Madison, WI has changed in 5 years
Rent in Madison, WI has climbed 29.5% since 2021, going from about $1,252 per month to roughly $1,621 today. Median household income grew from $70,466 to $78,050 between 2021 and 2024, a 10.8% shift. Rent outpaced income growth by roughly 18.7 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 265,447 to 278,001 between 2021 and 2024, a 4.7% change. About 54% of households rent today, against 52.4% in 2021. Taken together, the five-year picture in Madison, WI reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.
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Can you afford rent in Madison on your salary?
At $1,621/mo, how Madison rent compares to typical pay (30% rule).
Madison rent by bedroom count
Median rent for each apartment size in Madison. Click any size for full breakdown.
Tips for renters in Madison
Last updated: August 17, 2026
The median rent in Madison is $1,621/mo as of August 2026. A studio apartment averages $1,141/mo while a 2-bedroom runs $1,554/mo. One-bedroom apartments average $1,354/mo and 3-bedroom units go for $2,042/mo.
At 25% of local median household income ($78,050/yr), Madison ranks as affordable compared to the national benchmark of 30%. Rents have decreased 0.5% over the past year.
Frequently asked questions
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What percentage of Madison residents rent vs. own?
How does Madison rent compare to the national average?
At $1,621/mo, rent takes ~25% of Madison's median household income ($78,050/yr). The standard benchmark is 30%.
How does this area stack up?
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Estimated from ZIP-level data
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