The typical owner-occupied home in Madison County is worth about $219,700, 28% below the Georgia median of $303,300 and 34% below the national median of $332,700. Owners pay a median $1,677 a year in property taxes, about 0.76% of their home's value, close to the Georgia rate of 0.77%. The median household earns $61,963 a year, so the median home costs 3.5 times the median income (3.9 times for Georgia). 77% of occupied homes here are lived in by their owners, and 54% of those owners still have a mortgage.
Madison County at a glance
| Madison County | Georgia | U.S. | |
|---|---|---|---|
| Median home value | $219,700 | $303,300 | $332,700 |
| Median property tax paid per year | $1,677 | $2,341 | $3,119 |
| Property tax as a share of value | 0.76% | 0.77% | 0.94% |
| Median household income | $61,963 | $77,353 | $80,734 |
| Homes lived in by their owners | 77% | 66% | 65% |
| Owner homes with a mortgage | 54% | 63% | 61% |
| Median monthly costs, owners with a mortgage | $1,427 | $1,783 | $1,963 |
| Those costs as a share of the owners' income | 20.7% | 20.0% | 21.0% |
| Median rent | $972 | $1,393 | $1,413 |
| Rent as a share of renters' income | 31.9% | 31.3% | 30.6% |
| Median year homes were built | 1990 | 1992 | 1980 |
| Vacant homes | 10.3% | 10.3% | 10.1% |
| Population | 31,528 | 10,940,407 | 334,922,499 |
What a typical home costs per month in Madison County
At this week's average 30-year rate of 7.11%, buying the median Madison County home of $219,700 with 20% down costs about $1,413 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,779, 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 $60,559 for the 20%-down payment. That payment is 27% of the median Madison County household income of $61,963; at that income and 20% down, the 28% guideline points to a home of about $225,000.
The median rent here is $972 a month, so owning the median home costs about $441 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $43,940 |
|---|---|
| Loan amount | $175,760 |
| Principal and interest | $1,182 |
| Property taxes (0.76% a year) | $139 |
| Homeowners insurance (our estimate, 0.5% a year) | $92 |
| PMI | $0 |
| Total per month | $1,413 |
Change the numbers in the calculator
| Down payment | $7,690 |
|---|---|
| Loan amount | $215,721 |
| Principal and interest | $1,451 |
| Property taxes (0.76% a year) | $139 |
| Homeowners insurance (our estimate, 0.5% a year) | $92 |
| FHA mortgage insurance | $97 |
| Total per month | $1,779 |
Change the numbers in the calculator
Questions about home buying in Madison County
What is the median home value in Madison County?
About $219,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Madison County?
Homeowners pay a median $1,677 a year, which is about 0.76% 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 County?
For the median home with 20% down at 7.11%, the payment is about $1,413 a month. Keeping that under 28% of gross income takes about $60,559 a year.
More about Madison County
- Mortgage Refinance in Madison County
- Debt Relief in Madison County
- Home Equity Loans in Madison County
- 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