A typical Madrid home is worth about $158,000
Up 6.9% in a year, 35% below the Alabama typical home.
Only 1 sale in March 2026: in a market this size, monthly medians swing a lot, so the typical value is the steadier guide.
What kind of housing town is Madrid?
Read from the numbers below. The page puts what stands out first.
Up 26.2% in five years
Faster than Alabama (17.7%).
Show as a table
| January | Madrid | Alabama |
|---|---|---|
| 2022 | $133,000 | $215,000 |
| 2023 | $137,000 | $228,000 |
| 2024 | $143,000 | $233,000 |
| 2025 | $150,000 | $238,000 |
| 2026 | $151,000 | $239,000 |
| August 2026 | $158,000 | $242,000 |
A typical Madrid home worth $121K in February 2021 is worth about $158K today.
Zillow Home Value Index: the typical value of all homes (middle third), smoothed and seasonally adjusted, through August 2026.
What it takes to buy in Madrid
Try your own numbers below.
That covers a typical Madrid home, with $111K to spare.
A two-bedroom rents for about $900 a month here, $20 more than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, the Alabama typical property tax (0.38% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $900
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Dothan, AL HUD Metro FMR Area): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
No new homes permitted in 2025
No permits for new homes were issued in Madrid in 2025. The last year with any was 2006 (1 new home).
Between the 2010 and 2020 censuses, Madrid's population fell by 85 and no new homes were permitted. Across Alabama: 1.8 new residents per new home.
Every year as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 0 | 0 | 0 | — |
| 2025 | 0 | 0 | 0 | — |
| 2024 | 0 | 0 | 0 | — |
| 2023 | 0 | 0 | 0 | — |
| 2022 | 0 | 0 | 0 | — |
| 2021 | 0 | 0 | 0 | — |
| 2020 | 0 | 0 | 0 | — |
| 2019 | 0 | 0 | 0 | — |
| 2018 | 0 | 0 | 0 | — |
| 2017 | 0 | 0 | 0 | — |
| 2016 | 0 | 0 | 0 | — |
| 2015 | 0 | 0 | 0 | — |
| 2014 | 0 | 0 | 0 | — |
| 2013 | 0 | 0 | 0 | — |
| 2012 | 0 | 0 | 0 | — |
| 2011 | 0 | 0 | 0 | — |
| 2010 | 0 | 0 | 0 | — |
| 2009 | 0 | 0 | 0 | — |
| 2008 | 0 | 0 | 0 | — |
| 2007 | 0 | 0 | 0 | — |
| 2006 | 1 | 1 | 0 | $30,000 |
| 2005 | 0 | 0 | 0 | — |
| 2004 | 2 | 2 | 0 | $154,000 |
| 2003 | 2 | 2 | 0 | $150,000 |
| 2002 | 4 | 4 | 0 | $316,000 |
| 2001 | 4 | 4 | 0 | $316,000 |
| 2000 | 0 | 0 | 0 | — |
Madrid's permit office didn't report to the Census in 2025, so the 2025 figures are Census estimates.
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Neighbors talk housing
What Madrid buyers, sellers and renters are saying.
Your answer becomes a post in Town Square.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, March 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers. The calculator is an estimate, not a loan offer.