Mortgage payment estimates, closing cost breakdowns, and homebuying data for Madison, Wisconsin.
Pre-filled with Madison median home price and Wisconsin tax/insurance rates. Adjust for your property.
Estimated closing costs based on Wisconsin rates and fees applied to Madison prices.
The median home price in Madison is $375,000, 34% above the Wisconsin state median of $280,000. With a population of 269,840, Madison is a mid-size city where home prices reflect strong demand and local economic factors.
Property taxes in Wisconsin average 1.76% annually. This higher-than-average tax rate means a $375,000 home in Madison would carry roughly $550/month in property taxes alone — plan accordingly. Homeowners insurance in Wisconsin runs approximately $1,300 per year. This is within the normal range nationally.
Average rent in Madison is $1,520/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Madison presents moderate affordability. The $375K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.