ZIP Code · WI

ZIP 53704

Part of Madison, WI

Pop. 46,730·Dane County·38th most expensive ZIP in Wisconsin

Median rent (all units)

$1,546/mo

Year-over-Year

+1.3%

Month-over-Month

-0.1%

vs US Median

-$386

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 53704 · $1,546

More affordable than 70% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,210

1 BR

$1,410

2 BR

$1,610

3 BR

$2,130

4 BR+

$2,380

Research median

$1,610/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

Compared with the peak

Rent in ZIP 53704 is 0.1% below its high of $1,548 in July 2026, at $1,546 as of September 2026.

Past year vs. the rest of Wisconsin

Rent in ZIP 53704 changed +1.3% over the year to September 2026. Across the 71 Wisconsin ZIP codes Zillow tracks, the typical change was +5.6%.

Recent direction

Rent rose in 5 of the last 12 months.

What a typical income covers

30% of the median household income ($74,034) is $1,851 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,610); a 3-bedroom is $2,130.

Rank in Madison

3rd cheapest of 11 ZIP codes in Madison.

From Zillow's monthly rent index (ZORI) for ZIP 53704. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$18,552/yr

At $1,546/mo median

Location

CityMadison

StateWI

CountyDane County

Rent Market Meter

Balanced Market

Renter's MarketBalancedLandlord's Market

Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.

Based on rent-price momentum (+1.3% YoY, -0.1% MoM), not inventory.

Demographics

Who lives here

ZIP 53704 (Madison, WI) is roughly split between renters and owners, 51% of residents hold a bachelor's degree or higher.

Population

46,730

Median income

$74,034

Median age

35.4

Renters

47.8%

Age distribution

19.1%

30%

25.9%

13.7%

Under 1819.1%

18–3430%

35–5425.9%

55–6411.2%

65+13.7%

Gender

51.4%

48.6%

Male51.4%

Female48.6%

Race & ethnicity

67.3%

12.4%

White67.3%

Black12.4%

Hispanic10.5%

Asian4.9%

Other4.9%

Education (25+)

19.2%

26%

51%

No HS diploma3.8%

HS diploma19.2%

Some college26%

Bachelor's+51%

Housing tenure

52.2%

47.8%

Owner52.2%

Renter47.8%

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

2022 vs 2026

How ZIP 53704 in Madison, WI has changed in 5 years

Rent

$1,207 → $1,546

up 28.1%

Income

$66,079 → $74,034

up 12.0%

Population

47,731 → 46,730

down 2.1%

Renter share

44.3% → 47.8%

+3.5 pts

Bachelor's+

48.5% → 51%

+2.5 pts

Median age

34.8 → 35.4

+0.6 yrs

Five years ago, renters in ZIP 53704 in Madison, WI paid around $1,207 a month. That figure now sits near $1,546, up 28.1% from the 2022 baseline. Census figures show median household income at $74,034 today, compared with $66,079 five years earlier. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 53704 in Madison, WI losing about 1,001 residents over the five-year window, down 2.1% on net. The renter share has risen from 44.3% to 47.8%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 48.5% to 51% across the same window. The combined trend lines point to a market that has changed measurably from where it stood in early 2022.

Community

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About renting in ZIP 53704

Last updated: October 17, 2026

ZIP code 53704 covers Madison, WI. The median rent here is $1,546/mo as of October 2026. A 1-bedroom rents for a median of $1,410/mo. A 2-bedroom rents for a median of $1,610/mo.

At 25% of local median household income ($74,034/yr), ZIP 53704 ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.3% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 53704?

To keep rent at or below 30% of gross income, you would need to earn at least $62,000/year (about $30/hour full-time) to afford the median rent of $1,546/mo in ZIP 53704. The local median household income is $74,034/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 53704?

Rent in ZIP 53704 has risen 1.3% over the past year as of September 2026. It sits 0.1% below its high of $1,548 in July 2026.

How does ZIP 53704 compare to other ZIPs in Wisconsin?

ZIP 53704 is in the middle among Wisconsin ZIP codes for rent, ranking #38 of 103 at $1,546/mo. Over the year to September 2026, rent in ZIP 53704 changed +1.3%, against a typical +5.6% across the 71 Wisconsin ZIP codes Zillow tracks.