Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 27,775 people, 9,381 houses or apartments, and a median cost of homes of $443,840, Madison real estate is some of the most expensive in Mississippi, although Madison home values aren't among America's most expensive.
Madison is a city of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Madison than is found in 98% of the communities in America.
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Madison. Owner-occupied housing accounts for 91.58% of Madison's homes, and 85.33% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Madison built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Madison built between 2000 and later ( 34.54%). A lesser amount of the housing stock also hails from between 1940-1969 ( 2.62%). There's also some housing in Madison built before 1939 ( 1.95%).
Madison's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Madison during the period has been just 5.29%, which is lower than 70% of US communities.
Appreciation rates are so strong in Madison that despite a nationwide downturn in the housing market, Madison real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Madison appreciation rates continue to be some of the highest in America, at 12.36%, which is higher than appreciation rates in 94.37% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Madison. Madison appreciation rates in the latest quarter were at 0.63%, which equates to an annual appreciation rate of 2.56%.
Relative to Mississippi, our data show that Madison's latest annual appreciation rate is higher than 90% of the other cities and towns in Mississippi.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Madison differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Madison - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Madison real estate investment or home purchase decisions.
$443,840
for Mississippi
for nation
9,381
$2,041 / per month