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Real Estate Prices & Overview

Madison Area median real estate price is $257,072, which is more expensive than 46.6% of the neighborhoods in Michigan and 30.0% of the neighborhoods in the U.S.

The average rental price in Madison Area is currently $1,972, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 74.2% of the neighborhoods in Michigan.

Madison Area is an urban neighborhood (based on population density) located in Grand Rapids, Michigan.

Madison Area real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Madison Area neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.

In Madison Area, the current vacancy rate is 2.8%, which is a lower rate of vacancies than 80.6% of all neighborhoods in the U.S. This means that the housing supply in Madison Area is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

Real Estate

Corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the Madison Area neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 38.2% of the real estate here is made up of such dwellings, which is higher than 96.8% of all U.S. neighborhoods.

People

There is an especially high percentage of incarcerated people (0.7%) living in the Madison Area neighborhood.

In addition, according to NeighborhoodScout's research, Madison Area is better suited for first-time home buyers than 87.1% of neighborhoods in the state. Most homes here are priced below the state's median house value, yet maintain comparably good appreciation rates over the last decade relative to other neighborhoods in Michigan. Along with an exclusive multi-metric measure of neighborhood quality developed by NeighborhoodScout that scores high here in this neighborhood, this means that buying into the neighborhood is not only an accessible option but considered a decent first time home buyer choice for building equity in your first home, while being in a quality neighborhood

Diversity

Did you know that the Madison Area neighborhood has more Dutch and Sub-Saharan African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 11.8% of this neighborhood's residents have Dutch ancestry and 18.3% have Sub-Saharan African ancestry.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Madison Area neighborhood in Grand Rapids are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 67.3% of U.S. neighborhoods. In addition, 7.4% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 56.8% of America's neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Madison Area neighborhood, 32.8% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 26.9% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (23.9%), and 15.4% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Madison Area neighborhood is English, spoken by 77.0% of households. Some people also speak Spanish (5.1%).

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Madison Area neighborhood in Grand Rapids, MI, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (18.3%). There are also a number of people of German ancestry (14.2%), and residents who report Dutch roots (11.8%), and some of the residents are also of Mexican ancestry (4.9%), along with some Irish ancestry residents (3.8%), among others. In addition, 16.5% of the residents of this neighborhood were born in another country.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Madison Area neighborhood spend between 15 and 30 minutes commuting one-way to work (57.1% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (63.7%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (17.2%) and 6.4% of residents also hop out the door and walk to work for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


Real Estate includes:
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Rental Market
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Economics & Demographics include:
Lifestyle & Special Character
Household Types
Commute To Work
Migration & Mobility
Race & Ethnic Diversity
Employment Industries & Occupations
Income & Unemployment Rate
Higher Education Attainment
Crime includes:
Neighborhood Crime Index
Crimes Per Square Mile
Property Crime Comparison
Violent Crime Comparison
Schools include:
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