Report: Madison rents rising faster than national average

In an analysis by Stessa, the median cost of rent increased last year in the Madison metro area faster than the national average. The report includes data on more than 250 metros in all 50 states and found that the Madison area’s median rent was $1,395 in March 2021, up 3.6% from $1,346 in March 2020. Nationally, the median cost of rent was $1,739 in March 2021, up 1.3% from $1,716 the year prior. The median income for renter households in Madison was $47,369 compared to the median income for renter households nationally at $42,479.