Madison, CT—06443
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Madison, CT
As of Oct '25, the median home price in Madison, CT is $691,000, with a year-over-year change of 8.3%. This indicates that home prices in Madison, CT are increasing. According to Zillow, the 1-year price projection is 3.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $691,000 | 8.3% |
| Single Family | $726,000 | 8.7% |
| Condos | $533,000 | 10.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $312,000 | 5.1% |
2 Bed | $535,000 | 10.5% |
3 Bed | $629,000 | 8.6% |
4 Bed | $796,000 | 8.7% |
| 5 Bed | $1,171,000 | 11.3% |
% of Housing Stock
Rental Trends — Madison, CT
As of July '25, Rentcast reports the average rent in Madison, CT is $4,250, with a year-over-year rent change of -4.1%. Per bedroom, the median rent as of July '25 in Madison, CT is 1-bedrooms: $2,180, 2-bedrooms: $3,380, 3-bedrooms: $4,160, 4-bedrooms: $5,050. The most common rental property sizes in Madison, CT are 3-bedroom and 1-bedroom, accounting for 31.4% and 26.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,500 | $4,250 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $2,100 | $2,180 |
| 2 Bed Rent | $2,900 | $3,380 |
| 3 Bed Rent | $4,000 | $4,160 |
| 4 Bed Rent | $5,000 | $5,050 |
% of Rental Stock
Property Listings — Madison, CT
As of Oct '25, Realtor.com reports that the median days on market for a home in Madison, CT is 52. This is a decrease of -5.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 12.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $792,000 | -5.0% |
Listing Count | 96 | -8.0% |
| Listings as % of Homes | 0.6% | -8.0% |
Days on Market | 52 | -5.0% |
Demographics — Madison, CT
As of the latest ACS Survey released in 2023, Madison, CT has a population of 17,600, which has decreased by -3.3% over the past 5 years. Madison, CT is a moderately popular place for families, as children make up 19.0% of the population. The area has a highly educated workforce, with 71.8% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 27.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 17,600 | -3.3% |
% Under 18 | 19.0% | -22.1% |
% Seniors | 24.5% | 2.1% |
% WFH | 27.3% | 165.0% |
% w/ College Degree | 71.8% | 14.3% |
As of the latest ACS Survey released in 2023, Madison, CT is a predominantly white area, with 87.7% of the population identifying as white. The white population has shrunk by 5.1% in the last 5 years. The second most common race or ethnicity in Madison, CT is asian, making up 3.9% of the population. Foreign-born residents account for 8.6% of the population in Madison, CT, and this percentage has increased by 38.7% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 87.7% | -5.1% |
% Black | 0.9% | 80.0% |
% Hispanic | 3.0% | 57.9% |
% Asian | 3.9% | 50.0% |
% Foreign Born | 8.6% | 38.7% |
Mortgage and Risk — Madison, CT
According to HUD data as of 2023, there were 376 mortgage originations in Madison, CT, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 51.0%, with 7.0% above 90% LTV (normal). This implies small mortgage risk in Madison, CT. Investor activity is low, as 1.0% of loans were by investors. 19.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 376 |
% Conventional Loans | 97.0% |
% Government Loans | 3.0% |
% Investor Loans | 1.0% |
% Second Loans | 6.0% |
% Cash Out Refinance | 19.0% |
Loan Activity
Rentals and Section 8 — Madison, CT
As of 2024, the percent of homes in Madison, CT under the Section 8 program is 0.2%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Madison, CT, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 2 |
Total Units Section 8 | 2 |
% Rentals under Section 8 | 0.2% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$110 | $2,100 | $1,990 |
| 2 Bedroom | -$470 | $2,900 | $2,430 |
| 3 Bedroom | -$980 | $4,000 | $3,020 |
| 4 Bedroom | -$1,590 | $5,000 | $3,410 |
Affordability — Madison, CT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.3 |
| Median Home Price | $691,000 |
| Median Household Income | $168,000 |