The typical owner-occupied home in Madelia is worth about $165,400, 50% below the Minnesota median of $329,300 and 50% below the national median of $332,700. Owners pay a median $1,684 a year in property taxes, about 1.02% of their home's value, close to the Minnesota rate of 1.02%. The median household earns $76,548 a year, so the median home costs 2.2 times the median income (3.7 times for Minnesota). 79% of occupied homes here are lived in by their owners, and 57% of those owners still have a mortgage.
Madelia at a glance
| Madelia | Minnesota | U.S. | |
|---|---|---|---|
| Median home value | $165,400 | $329,300 | $332,700 |
| Median property tax paid per year | $1,684 | $3,357 | $3,119 |
| Property tax as a share of value | 1.02% | 1.02% | 0.94% |
| Median household income | $76,548 | $89,062 | $80,734 |
| Homes lived in by their owners | 79% | 72% | 65% |
| Owner homes with a mortgage | 57% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,305 | $1,947 | $1,963 |
| Those costs as a share of the owners' income | 15.9% | 19.7% | 21.0% |
| Median rent | $833 | $1,280 | $1,413 |
| Rent as a share of renters' income | 21.4% | 29.2% | 30.6% |
| Median year homes were built | 1953 | 1979 | 1980 |
| Vacant homes | 11.9% | 9.3% | 10.1% |
| Population | 2,327 | 5,739,445 | 334,922,499 |
What a typical home costs per month in Madelia
At this week's average 30-year rate of 7.11%, buying the median Madelia home of $165,400 with 20% down costs about $1,100 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,375, 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 $47,127 for the 20%-down payment. That payment is 17% of the median Madelia household income of $76,548; at that income and 20% down, the 28% guideline points to a home of about $269,000.
The median rent here is $833 a month, so owning the median home costs about $267 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $33,080 |
|---|---|
| Loan amount | $132,320 |
| Principal and interest | $890 |
| Property taxes (1.02% a year) | $141 |
| Homeowners insurance (our estimate, 0.5% a year) | $69 |
| PMI | $0 |
| Total per month | $1,100 |
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| Down payment | $5,789 |
|---|---|
| Loan amount | $162,404 |
| Principal and interest | $1,092 |
| Property taxes (1.02% a year) | $141 |
| Homeowners insurance (our estimate, 0.5% a year) | $69 |
| FHA mortgage insurance | $73 |
| Total per month | $1,375 |
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Questions about home buying in Madelia
What is the median home value in Madelia?
About $165,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Madelia?
Homeowners pay a median $1,684 a year, which is about 1.02% 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 Madelia?
For the median home with 20% down at 7.11%, the payment is about $1,100 a month. Keeping that under 28% of gross income takes about $47,127 a year.
More about Madelia
- Mortgage Refinance in Madelia
- Debt Relief in Madelia
- Home Equity Loans in Madelia
- 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