Housing affordability · NY · 2024
Madison Housing Affordability
20th most affordable of 62 New York counties · price-to-income ratio
Madison at a glance
Madison is among the more accessible housing markets in New York on both ownership and rental measures — home prices relative to income sit below the state median at 2.4×, and renters face a lower-than-average cost burden.
At Madison's median household income of $75,499, a renter paying the median monthly rent of $928 would commit 15% of gross annual income to housing — below the 30% threshold widely used to define cost burden.
For owner-occupied households, 13% spend more than 30% of their income on housing costs — the standard definition of owner cost burden.
Madison FAQ
What is the median home price in Madison?
The median home value in Madison, NY is $184,600 (2024 ACS 5-year estimate). This is 56% below the New York state median of $423,800.
Is Madison an affordable place to buy a home?
Madison is rated Affordable on the USInsights affordability scale. The price-to-income ratio is 2.4×, meaning the median home costs roughly 2.4 years of median household income ($75,499). Under 3.5× is generally considered affordable.
What is the average rent in Madison?
The median gross rent in Madison is $928 per month (2024 ACS 5-year estimate). 41% of renters spend more than 30% of their income on housing. The New York state median is $1,621.
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