A typical Madison home is worth roughly $97,000
Builders were permitted 1 new home in 2025.
What kind of housing town is Madison?
Read from the numbers below. The page puts what stands out first.
A typical home costs 1.6 years of income
Less than across Minnesota (3.9 years). Try your own numbers below.
That covers a typical Madison home, with $130K to spare.
A two-bedroom rents for about $1,110 a month here, $500 more than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Madison’s typical property tax (1.23% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
73% of Madison households own their home
Half of Madison’s homes were built before 1955.
Minnesota: 72% own.
U.S. Census Bureau, American Community Survey 2020-2024.
A two-bedroom rents for about $1,110
Renters already here pay a median of $838, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Lac qui Parle County, MN): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
1 new home permitted in 2025
Builders were permitted 1 new home in Madison in 2025. That's 0.6 per 1,000 residents, slower than across Minnesota (3.8). Over the past 10 years, Madison has permitted 5 homes in all.
Between the 2010 and 2020 censuses, Madison's population fell by 33 even though 6 new homes were permitted. Homes are holding fewer people: households are getting smaller, or more homes are used part of the year. Across Minnesota: 2.2 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 | 1 | 1 | 0 | $150,000 |
| 2024 | 0 | 0 | 0 | — |
| 2023 | 1 | 1 | 0 | $250,000 |
| 2022 | 0 | 0 | 0 | — |
| 2021 | 1 | 1 | 0 | $180,000 |
| 2020 | 0 | 0 | 0 | — |
| 2019 | 0 | 0 | 0 | — |
| 2018 | 0 | 0 | 0 | — |
| 2017 | 2 | 2 | 0 | $399,000 |
| 2016 | 0 | 0 | 0 | — |
| 2015 | 0 | 0 | 0 | — |
| 2014 | 1 | 1 | 0 | $90,000 |
| 2013 | 0 | 0 | 0 | — |
| 2012 | 2 | 2 | 0 | $438,000 |
| 2011 | 0 | 0 | 0 | — |
| 2010 | 1 | 1 | 0 | $120,000 |
| 2009 | 0 | 0 | 0 | — |
| 2008 | 1 | 1 | 0 | $105,000 |
| 2007 | 2 | 2 | 0 | $185,000 |
| 2006 | 4 | 4 | 0 | $368,000 |
| 2005 | 0 | 0 | 0 | — |
| 2004 | 0 | 0 | 0 | — |
| 2003 | 0 | 0 | 0 | — |
| 2002 | 2 | 2 | 0 | $120,000 |
| 2001 | 4 | 4 | 0 | $315,000 |
| 2000 | 0 | 0 | 0 | — |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Neighbors talk housing
What Madison buyers, sellers and renters are saying.
Your answer becomes a post in Town Square.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. 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.