ZIP Code · WI

ZIP 53703

Part of Madison, WI

Pop. 37,659·Dane County·8th most expensive ZIP in Wisconsin

Median rent (all units)

$1,953/mo

Year-over-Year

+1.9%

Month-over-Month

+0.4%

vs US Median

+$21

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 53703 · $1,953

More expensive than 59% of US ZIP codes · National median $1,932/mo

Rent check

Is your rent fair?

Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,510

1 BR

$1,770

2 BR

$2,020

3 BR

$2,670

4 BR+

$2,990

Research median

$2,020/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

August. Asking rents in ZIP 53703 usually run 0.4% below trend in August and 0.8% above it in November, about $23 a month apart at today's median. Based on 10 years of data.

Compared with the peak

Rent in ZIP 53703 is at its highest level since Zillow's records here began in October 2016.

Past year vs. the rest of Wisconsin

Rent in ZIP 53703 changed +1.9% over the year to September 2026. Across the 71 Wisconsin ZIP codes Zillow tracks, the typical change was +5.6%.

Rent vs. income since 2019

From 2019 to 2024, rent in ZIP 53703 rose 34.3% while median household income rose 17% ($40,902 to $47,847). Rent outpaced income.

Since before the pandemic

Rent in ZIP 53703 is 41.8% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

Rent rose in 6 of the last 12 months.

What a typical income covers

30% of the median household income ($47,847) is $1,196 a month. That is less than HUD's Fair Market Rent for a studio ($1,510).

Rank in Madison

9th cheapest of 11 ZIP codes in Madison.

Cheaper nearby

ZIP 53713, 3 miles away, rents for 28% less ($1,403/mo), about $6,600 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 53703. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$23,436/yr

At $1,953/mo median

Location

CityMadison

StateWI

CountyDane County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (1.9% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+1.9% YoY, +0.4% MoM), not inventory.

Demographics

Who lives here

ZIP 53703 (Madison, WI) is majority renter-occupied, skews toward younger working-age adults, has a median income below the national average, 70.6% of residents hold a bachelor's degree or higher.

Population

37,659

Median income

$47,847

Median age

24.8

Renters

85.4%

Age distribution

74.4%

Under 182.8%

18–3474.4%

35–5411.3%

55–644.8%

65+6.7%

Gender

49.9%

50.1%

Male49.9%

Female50.1%

Race & ethnicity

78.4%

White78.4%

Black3.2%

Hispanic5.9%

Asian8.9%

Other3.6%

Education (25+)

12.2%

14.1%

70.6%

No HS diploma3.1%

HS diploma12.2%

Some college14.1%

Bachelor's+70.6%

Housing tenure

14.6%

85.4%

Owner14.6%

Renter85.4%

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

2021 vs 2026

How ZIP 53703 in Madison, WI has changed in 5 years

Rent

$1,418 → $1,953

up 37.7%

Income

$44,103 → $47,847

up 8.5%

Population

37,444 → 37,659

up 0.6%

Renter share

86.5% → 85.4%

-1.1 pts

Bachelor's+

71.8% → 70.6%

-1.2 pts

Across the past five years, the going rent in ZIP 53703 in Madison, WI has shifted from $1,418 to $1,953, up 37.7% since 2021. Local incomes tracked alongside that move, going from a median of $44,103 in 2021 to $47,847 more recently. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the ZIP 53703 in Madison, WI market of 2021.

Community

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Local insights

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About renting in ZIP 53703

Last updated: October 17, 2026

ZIP code 53703 covers Madison, WI. The median rent here is $1,953/mo as of October 2026. A 1-bedroom rents for a median of $1,770/mo. A 2-bedroom rents for a median of $2,020/mo.

At 49% of local median household income ($47,847/yr), ZIP 53703 ranks as moderate compared to the national benchmark of 30%. Rents have increased 1.9% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 53703?

To keep rent at or below 30% of gross income, you would need to earn at least $78,000/year (about $38/hour full-time) to afford the median rent of $1,953/mo in ZIP 53703. The local median household income is $47,847/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 53703?

Rent in ZIP 53703 has risen 1.9% over the past year as of September 2026. That is the highest level since Zillow's records here began in October 2016.

When is the cheapest time to rent in ZIP 53703?

Asking rents in ZIP 53703 are usually lowest in August, about 0.4% below their yearly trend, and highest in November, about 0.8% above it. At today's median that is a gap of roughly $23 a month. This pattern comes from 10 years of Zillow rent data.

Has rent outpaced income in ZIP 53703?

Yes. From 2019 to 2024, rent in ZIP 53703 rose 34.3% while median household income rose 17%, from $40,902 to $47,847. Rent is Zillow's yearly average; income is the Census 5-year estimate for the same years.

How does ZIP 53703 compare to other ZIPs in Wisconsin?

ZIP 53703 is one of the pricier among Wisconsin ZIP codes for rent, ranking #8 of 103 at $1,953/mo. Over the year to September 2026, rent in ZIP 53703 changed +1.9%, against a typical +5.6% across the 71 Wisconsin ZIP codes Zillow tracks.