The typical owner-occupied home in Madison is worth about $344,400, 53% below the California median of $734,700 and 4% above the national median of $332,700. Owners pay a median $672 a year in property taxes, about 0.20% of their home's value, lower than the California rate of 0.70%. 94% of occupied homes here are lived in by their owners, and 23% of those owners still have a mortgage.
Madison at a glance
| Madison | California | U.S. | |
|---|---|---|---|
| Median home value | $344,400 | $734,700 | $332,700 |
| Median property tax paid per year | $672 | $5,124 | $3,119 |
| Property tax as a share of value | 0.20% | 0.70% | 0.94% |
| Median household income | – | $99,122 | $80,734 |
| Homes lived in by their owners | 94% | 56% | 65% |
| Owner homes with a mortgage | 23% | 67% | 61% |
| Median monthly costs, owners with a mortgage | – | $2,946 | $1,963 |
| Median rent | – | $2,036 | $1,413 |
| Median year homes were built | 1978 | 1976 | 1980 |
| Vacant homes | 8.6% | 7.5% | 10.1% |
| Population | 805 | 39,287,377 | 334,922,499 |
What a typical home costs per month in Madison
At this week's average 30-year rate of 7.11%, buying the median Madison home of $344,400 with 20% down costs about $2,054 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,628, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $88,043 for the 20%-down payment.
| Down payment | $68,880 |
|---|---|
| Loan amount | $275,520 |
| Principal and interest | $1,853 |
| Property taxes (0.20% a year) | $57 |
| Homeowners insurance (our estimate, 0.5% a year) | $144 |
| PMI | $0 |
| Total per month | $2,054 |
Change the numbers in the calculator
| Down payment | $12,054 |
|---|---|
| Loan amount | $338,162 |
| Principal and interest | $2,275 |
| Property taxes (0.20% a year) | $57 |
| Homeowners insurance (our estimate, 0.5% a year) | $144 |
| FHA mortgage insurance | $152 |
| Total per month | $2,628 |
Change the numbers in the calculator
Questions about home buying in Madison
What is the median home value in Madison?
About $344,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Madison?
Homeowners pay a median $672 a year, which is about 0.20% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Madison?
For the median home with 20% down at 7.11%, the payment is about $2,054 a month. Keeping that under 28% of gross income takes about $88,043 a year.
More about Madison
- Mortgage Refinance in Madison
- Debt Relief in Madison
- Home Equity Loans in Madison
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data