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Average Rent in Downtown Madison, Madison, WI

Home  »  WI  »  Madison  »  Downtown Madison

Current Versus Historical Downtown Madison, Madison, WI Rents

Downtown Madison rentals average $1,075 for a studio rental to $2,960 for a 4-bedroom rental. The median price of all currently available listings is $1,525, or roughly $3 per square feet.
For the apartment units and housing in May 2024, median rents have risen substantially over the last year. Studio rentals prices have decreased by $29 (-2.61%) year-over-year from $1,104 to $1,075. 1-bedroom rentals prices have increased by $446 (32.92%) year-over-year from $1,354 to $1,800. 2-bedroom rentals prices have increased by $47 (2.22%) year-over-year from $2,103 to $2,150. 3-bedroom rentals prices have increased by $1,317 (63.20%) year-over-year from $2,083 to $3,400. 4-bedroom rentals prices have increased by $1,054 (39.07%) year-over-year from $2,697 to $3,750. Note that this figure includes all active and rented listings throughout the month.
Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone up by 2.87% this month. 1-bedroom rents have gone up by 6.40% this month. 2-bedroom rents have gone down by 15.17% this month. 3-bedroom rents have gone up by 29.44% this month. 4-bedroom rents have gone up by 4.80% this month.
Beds
Price / Sqft
 May 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $3.07 $1,075 $1,104 (-2.61%) $654 (64.48%)
1 BR $2.69 $1,800 $1,354 (32.92%) $995 (80.90%)
2 BR $2.23 $2,150 $2,103 (2.22%) $1,377 (56.17%)
3 BR $2.40 $3,400 $2,083 (63.20%) $2,122 (60.25%)
4+ BR $2.20 $3,750 $2,697 (39.07%) $3,788 (-1.00%)

Historical Rents in Downtown Madison, Madison, WI

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near Downtown Madison

There are a total of 2 cities nearby Downtown Madison. The average rent in Downtown Madison is currently $1,560 per month. Only one city nearby has an average rent lower than that. Our records show that Madison, WI, with an average rent of $1,505, is the most affordable city nearby. In contrast, the most expensive city near Downtown Madison, Madison, WI is Middleton, WI. Monthly rents here are on average $1,615 per month.

Let's compare Downtown Madison, Madison, WI's rent against other top cities nearby by bedroom size. Typically, rent for studios in Downtown Madison, Madison, WI is 16.47% more affordable than other cities nearby. One bedrooms are about 12.04% more affordable. Two bedrooms in Downtown Madison, Madison, WI are about 3.83% more expensive. Finally, rent for three bedrooms are about 5.05% more affordable. Want more information? Check out the top 2 cities near Downtown Madison, Madison, WI in the following chart.
City Studio 1 Bed 2 Bed All
Madison, WI $1,075 $1,299 $1,670 $1,505
Middleton, WI $1,429 $1,614 $2,158 $1,615

Top Neighborhoods Near Downtown Madison



View the following chart for more information.
Neighborhood Studio 1 Bed 2 Bed All

Top Counties Near Downtown Madison

The average rent for rentals in these counties is $1,560. That's roughly around $2 per sqft. A total of 1 counties have a lower average rent. The county that is the most affordable is Madison, WI. It's average rent per month is $1,505. Vice versa, with an average rent of $1,615, Middleton, WI is the most expensive county by Downtown Madison, Madison, WI.

Typically, rent for studios in Downtown Madison, Madison, WI is 16.47% more affordable than other counties nearby. In comparison, rent for one bedroom listings in Downtown Madison, Madison, WI is 12.04% more affordable than other counties nearby. Finally, rent for two bedrooms in Downtown Madison, Madison, WI is 3.83% more expensive than other counties nearby. We've listed all of these counties in the chart below.
County Studio 1 Bed 2 Bed All
Madison, WI $1,075 $1,299 $1,670 $1,505
Middleton, WI $1,429 $1,614 $2,158 $1,615

Top Zipcodes Near Downtown Madison

There is one zipcode in or near Downtown Madison, Madison, WI. The average rent for this zipcode is $1,525.

The following chart includes the zipcode in or near Downtown Madison, Madison, WI. You can view the average rent breakdown for each zipcode by bedroom size.
Zipcode Studio 1 Bed 2 Bed All
53703, Madison, WI $1,075 $1,275 $1,990 $1,525

Frequently Asked Questions - Downtown Madison Average Rents

What is the average rent price in Downtown Madison, Madison, WI?
The average monthly rental price for Downtown Madison, Madison, WI apartments for rent is approximately $1,525. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.
Do Downtown Madison, Madison, WI rent prices drop in winter?
Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in Downtown Madison, Madison, WI.
How much is a studio apartment in Downtown Madison, Madison, WI?
The average monthly rental price for studio apartments is $1,075 and an average price per square feet of $3.07. There are a total of 21 studio apartment listings currently available for rent in Downtown Madison.
How much is a one bedroom apartment in Downtown Madison, Madison, WI?
The average monthly rental price for one bedroom apartments is $1,300 and an average price per square feet of $2.69. There are a total of 29 one bedroom apartment listings currently available for rent in Downtown Madison.
How much is a two bedroom apartment in Downtown Madison, Madison, WI?
The average monthly rental price for two bedroom apartments is $1,990 and an average price per square feet of $2.23. There are a total of 15 two bedroom apartment listings currently available for rent in Downtown Madison.
How have rent prices in Downtown Madison, Madison, WI changed this year?
Rent prices for rentals in Downtown Madison, Madison, WI can fluctuate yearly. Specifically, studio rental prices have changed by -0.03%, one bedroom rental prices have changed by 0.33%, two bedroom rental prices have changed by 0.02%, and three bedroom rental prices have changed by 0.63% year-over-year.
What is a reasonable rent price in Downtown Madison, Madison, WI?
A reasonable rent price in Downtown Madison, Madison, WI is around $1,220/month. You can search for these reasonably priced rental listings on RentHop.
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