Insights / Madison

Firm
Cooling
Condition and direction
Madison, WI · recomputed daily
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Madison, WI Multifamily Market Read | September 2026

Madison reads Firm and Cooling, so landlords have the edge. Asking rents are firming, up 2.1% over the past year (Zillow ZORI, monthly, latest Aug 2026). This brief lays out what the current data shows for Madison, grouped by how often each source updates.

Updated September 20, 2026

Asking rent YoY · monthly
+2.1%
Vacancy · 2024
3.7%
Jobs YoY · monthly
-0.9%

What is moving now (monthly)

Asking rents are firming, up 2.1% over the past year (Zillow ZORI, monthly, latest Aug 2026). Jobs are softening, down 0.9% over the past year (BLS, monthly, latest Aug 2026).

The backdrop (yearly, US Census Bureau)

Vacancy was 3.7%, on the low side, a tight rental market, in the 2024 count (US Census Bureau). This is a yearly snapshot, not a monthly signal. New permitting was heavy, +26.4% in the 2025 count (US Census Bureau, building permits). A standing yearly figure, not a live signal. Net migration was positive at +0.7 per 1,000 residents in the 2025 count (US Census Bureau).

Rent context

The metro median rent, including utilities, was about $1,437 a month in the 2024 count (US Census Bureau).

What the data shows

Taken together, Madison is Firm and cooling: landlords have the edge. The monthly movers, asking rent and jobs, are the live part of the picture, while vacancy, permitting, and migration are yearly snapshots that set the backdrop. MetroSgnl reads the market from public data and shows every figure with its source and cadence. This is market information, not investment advice, and not a recommendation about any property.

Common questions about Madison · answered from the data, updated September 20, 2026

Is the Madison rental market tight or soft right now?

Madison reads Firm right now, so landlords have the edge.

Which way is the Madison market heading?

Madison is cooling right now, as asking rents firm over the past year (Zillow ZORI, monthly).

Is Madison a landlord's or a renter's market?

Madison is a landlord's market right now, because it reads Firm.

What is the vacancy rate in Madison?

Vacancy in Madison is 3.7% in the Jan 2024 count, a yearly snapshot rather than a live monthly signal (US Census Bureau).

How much have Madison rents changed?

Asking rents in Madison are up 2.1% over the past year (Zillow ZORI, monthly, latest Aug 2026).

Recent coverage

Daily, from the MetroSgnl news feed. Headlines only.

New affordable housing law has something for 'everybody,' expert saysThe Capital Times
Madison churches becoming housing, community spaces as religion shiftsThe Capital Times
Potential housing redevelopment on Madison's west side sparks concernThe Capital Times
Madison ranks seventh among best US real estate markets for 2026Milwaukee Journal Sentinel
In Wisconsin, Sala Hars elevates middle-income housing with a gridded enfilade plan clad in brickarchpaper.com
Lotus Company proposes affordable housing redevelopment at Essen Haus and Come Back In siteWKOW
See all Madison news →

Data: Zillow ZORI, BLS, US Census Bureau, FRED, and the MetroSgnl news feed. Recomputed daily. Market information only, not investment advice.

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