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City Report · WI

Monona

Pop. 8,527·14th most expensive in Wisconsin·Rents have been falling, good time to negotiate
Median rent (all units)
$1,699/mo
Year-over-Year
Stable
Month-over-Month
-2.9%
vs US Median
-$263
Falling (Monthly)
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Most AffordableMost Expensive
Monona · $1,699
More affordable than 61% of US cities · National median $1,962/mo
Affordability
23% of income
VERY AFFORDABLE
0%30% benchmark60%+

At $1,699/mo, rent takes about 23% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$68,000/yr
Local median income
$87,773/yr
Based on the 30%-of-income rule using Monona's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$1,565
1 BR
$986
2 BR
$1,402
3 BR
$2,193
Fair Market Rent (HUD)
$1,402/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,699 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 →

Rent trends

12-month history

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Last updated: August 17, 2026

Annual cost
$20,388/yr
At $1,699/mo median
Rent Market Meter
Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are softening (down 0.0% YoY), so renters have negotiating leverage.
Based on rent-price momentum (+0.0% YoY, -2.9% MoM), not inventory.
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Demographics

Who lives here

Monona, WI is roughly split between renters and owners, has a large retiree population, 58.3% of residents hold a bachelor's degree or higher.

Population
8,527
Median income
$87,773
Median age
43.7
Renters
46.4%
Age distribution
19.1%
18.5%
26%
14.6%
21.9%
Under 1819.1%
18–3418.5%
35–5426%
55–6414.6%
65+21.9%
Gender
48.4%
51.6%
Male48.4%
Female51.6%
Race & ethnicity
87.1%
White87.1%
Black3.4%
Hispanic2.6%
Asian2.9%
Other4%
Education (25+)
19.1%
20.2%
58.3%
No HS diploma2.4%
HS diploma19.1%
Some college20.2%
Bachelor's+58.3%
Housing tenure
53.6%
46.4%
Owner53.6%
Renter46.4%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Monona, WI has changed in 5 years

Income
$82,579 → $87,773
up 6.3%
Population
8,560 → 8,527
down 0.4%
Renter share
42.3% → 46.4%
+4.1 pts
Bachelor's+
53.6% → 58.3%
+4.7 pts
Median age
45.7 → 43.7
-2.0 yrs

On the earnings side, the typical household in Monona, WI now reports about $87,773, up from $82,579 in 2021. Renters now make up 46.4% of households, compared with 42.3% five years ago. College-educated residents now make up 58.3% of adults here, versus 53.6% in 2021.

Community

Discussions about Monona

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View Monona rent history (2015–2026) →
Salary vs rent

Can you afford rent in Monona on your salary?

At $1,699/mo, how Monona rent compares to typical pay (30% rule).

By apartment size

Monona rent by bedroom count

Median rent for each apartment size in Monona. Click any size for full breakdown.

Local insights

Tips for renters in Monona

About renting in Monona, WI

Last updated: August 17, 2026

The median rent in Monona is $1,699/mo as of August 2026. A studio apartment averages $1,565/mo while a 2-bedroom runs $1,402/mo. One-bedroom apartments average $986/mo and 3-bedroom units go for $2,193/mo.

At 23% of local median household income ($87,773/yr), Monona ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Monona an affordable city for renters?

Monona is considered very affordable for renters. At $1,699/mo, rent takes approximately 23% of the local median household income ($87,773/yr). The standard benchmark is 30%. Monona falls comfortably within that range.

How much income do you need to rent in Monona?

To keep rent at or below 30% of gross income, you would need to earn at least $68,000/year (~$33/hour full-time) to afford the median rent of $1,699/mo in Monona. The local median household income is $87,773/yr, meaning the typical Monona household meets that threshold.

Is rent going up or down in Monona?

Rent in Monona has been relatively stable over the past year, with a 0.0% change year over year as of August 2026.

How does Monona rent compare to other cities in Wisconsin?

Monona is one of the pricier cities in Wisconsin for rent, ranking #14 out of 62 tracked cities at $1,699/mo.

Which nearby cities are cheaper to rent in than Monona?

Several nearby cities have lower median rents than Monona ($1,699/mo): Middleton ($1,564/mo), Madison ($1,621/mo), Sun Prairie ($1,659/mo).

What percentage of Monona residents rent vs. own?

According to Census data, approximately 46.4% of Monona households are renters, while 53.6% are owner-occupied. Monona leans toward homeownership, which can mean a smaller rental inventory.

How does Monona rent compare to the national average?

Monona's median rent of $1,699/mo is $263 (13%) below the US national median of $1,962/mo. Within Wisconsin, it ranks #14 out of 62 tracked cities.
Income Affordability
23%
VERY AFFORDABLE

At $1,699/mo, rent takes ~23% of Monona's median household income ($87,773/yr). The standard benchmark is 30%.

Monona 23%Benchmark 30%
State income tax3.5–7.65%
Run the Monona affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Monona, WI

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