Sherman, Madison, WI—53704
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Sherman, Madison, WI
As of Oct '25, the median home price in Sherman, Madison, WI is $363,000, with a year-over-year change of 1.5%. This indicates that home prices in Sherman, Madison, WI are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $363,000 | 1.5% |
| Single Family | $390,000 | 2.9% |
| Condos | $238,000 | -13.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $214,000 | 3.4% |
2 Bed | $311,000 | 4.4% |
3 Bed | $381,000 | 3.0% |
4 Bed | $463,000 | 2.2% |
| 5 Bed | $597,000 | 2.9% |
% of Housing Stock
Rental Trends — Sherman, Madison, WI
As of July '25, Rentcast reports the average rent in Sherman, Madison, WI is $1,470, with a year-over-year rent change of 2.8%. Per bedroom, the median rent as of July '25 in Sherman, Madison, WI is studios: $1,080, 1-bedrooms: $1,210, 2-bedrooms: $1,490, 3-bedrooms: $2,040, 4-bedrooms: $6,150. The most common rental property sizes in Sherman, Madison, WI are 2-bedroom and 1-bedroom, accounting for 43.7% and 35.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,470 |
| Studio Rent | $1,080 | $1,080 |
| 1 Bed Rent | $1,180 | $1,210 |
| 2 Bed Rent | $1,450 | $1,490 |
| 3 Bed Rent | $1,950 | $2,040 |
| 4 Bed Rent | $6,150 | $6,150 |
% of Rental Stock
Property Listings — Sherman, Madison, WI
As of Oct '25, Realtor.com reports that the median days on market for a home in Sherman, Madison, WI is 51. This is a increase of 19.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $382,000 | 3.0% |
Listing Count | 90 | 14.0% |
| Listings as % of Homes | 0.2% | 14.0% |
Days on Market | 51 | 19.0% |
Demographics — Sherman, Madison, WI
As of the latest ACS Survey released in 2023, Sherman, Madison, WI has a population of 47,100, which has increased by 3.0% over the past 5 years. Sherman, Madison, WI is a moderately popular place for families, as children make up 19.9% of the population. The area has a highly educated workforce, with 49.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 21.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 47,100 | 3.0% |
% Under 18 | 19.9% | -1.0% |
% Seniors | 12.7% | 3.3% |
% WFH | 21.1% | 502.9% |
% w/ College Degree | 49.5% | 12.0% |
As of the latest ACS Survey released in 2023, Sherman, Madison, WI is a predominantly white area, with 66.6% of the population identifying as white. The white population has shrunk by 5.0% in the last 5 years. The second most common race or ethnicity in Sherman, Madison, WI is black, making up 11.2% of the population. Foreign-born residents account for 9.1% of the population in Sherman, Madison, WI, and this percentage has decreased by 16.5% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 66.6% | -5.0% |
% Black | 11.2% | -8.9% |
% Hispanic | 10.2% | 21.4% |
% Asian | 4.7% | -25.4% |
% Foreign Born | 9.1% | -16.5% |
Mortgage and Risk — Sherman, Madison, WI
According to HUD data as of 2023, there were 1108 mortgage originations in Sherman, Madison, WI, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 46.0%, with 13.0% above 90% LTV (elevated). This implies medium mortgage risk in Sherman, Madison, WI. Investor activity is low, as 3.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,108 |
% Conventional Loans | 97.0% |
% Government Loans | 3.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Sherman, Madison, WI
As of 2024, the percent of homes in Sherman, Madison, WI under the Section 8 program is 11.5%. 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. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Sherman, Madison, WI, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,367 |
Total Units Section 8 | 1,159 |
% Rentals under Section 8 | 11.5% |
% Occupied Section 8 | 86.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $40 | $1,180 | $1,220 |
| 2 Bedroom | -$50 | $1,450 | $1,400 |
| 3 Bedroom | -$110 | $1,950 | $1,840 |
| 4 Bedroom | -$4,090 | $6,150 | $2,060 |
Affordability — Sherman, Madison, WI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.3 |
| Median Home Price | $363,000 |
| Median Household Income | $75,000 |