The annual Zumper National Rent Report found that Madison is the 31st most expensive place to live for renters among the top 100 most populous U.S. cities, according to WMTV15.
The report found that:
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Madison’s average one-bedroom apartment price is $1,530 per month, a 17.7% increase over 2023;
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The average price for a two-bedroom apartment is $1,930 per month; and
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Nationwide, renters are spending roughly 42% of their income on housing.
Renters continue to voice concern about the cost of living, despite an increase in general optimism about the economy.
