Housing in Madison
Detailed housing data — sourced from authoritative datasets and normalized for direct comparison.
Housing in Madison, South Dakota
The housing market in Madison, South Dakota, is characterized by affordability and a mix of ownership and rental options. The median property value in Madison was $193,100 in 2024, with a homeownership rate of 60.2%. The average rent for a one-bedroom apartment is around $774 per month, making it significantly lower than the national average. While the median rent for a 1BR is $774, the average rent across all property types is $975. The median gross rent was $981 from 2020-2024.
Housing
About Madison, South Dakota
Madison, South Dakota, established in 1873, is a city with a rich history, named after Madison, Wisconsin. It is the county seat of Lake County and is situated in southeastern South Dakota, approximately 50 miles northwest of Sioux Falls. The city offers a blend of small-town charm and a youthful presence, partly due to being home to Dakota State University. This academic institution is a primary factor in the city's economy and contributes to its college-town vibe. Madison provides a generally peaceful environment with historic homes, community parks, and local amenities, making it an attractive place for families and those seeking a quieter lifestyle.
About South Dakota
South Dakota, located in the upper Midwest, is characterized by its vast landscapes and a population density among the lowest in the U.S.. The state's economy is primarily driven by agriculture, including crop production and livestock, but also benefits from growing sectors like manufacturing, financial services, and tourism, with attractions such as Mount Rushmore. Living in South Dakota is generally affordable, with a cost of living approximately 8% lower than the national average and no state income tax. The climate features hot, humid summers and cold, snowy winters, and residents often enjoy a quieter, nature-centric lifestyle with abundant outdoor recreation opportunities.
