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 4,917 people, 2,094 houses or apartments, and a median cost of homes of $448,348, Madison real estate is some of the most expensive in Georgia, although Madison home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Madison, accounting for 61.90% of the city's housing units. Other types of housing that are prevalent in Madison include duplexes, homes converted to apartments or other small apartment buildings ( 22.05%), large apartment complexes or high rise apartments ( 12.77%), and a few mobile homes or trailers ( 3.27%).
The most prevalent building size and type in Madison are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 40.53% owning and 59.47% renting.
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 1940-1969 ( 24.43%). A lesser amount of the housing stock also hails from between 2000 and later ( 20.44%). There's also some housing in Madison built before 1939 ( 10.09%).
In the last 10 years, Madison has experienced some of the highest home appreciation rates of any community in the nation. Madison real estate appreciated 116.20% over the last ten years, which is an average annual home appreciation rate of 8.02%, putting Madison in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Madison definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Madison appreciation rates have trailed the rest of the nation. In the last twelve months, Madison's appreciation rate has been 4.57%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Madison were at 2.20%, which equates to an annual appreciation rate of 9.09%.
Relative to Georgia, our data show that Madison's latest annual appreciation rate is lower than 80% of the other cities and towns in Georgia.
$448,348
for Georgia
for nation
2,094
$2,034 / per month