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RentData.org Logo Madison Fair Market Rent FY 2023 Madison, WI HUD Metro FMR Area Rental Data

Fair Market Rent Prices in Madison, WI :
$1,007 $1,183 $1,378 $1,810 $2,041
Studio / Efficiency 1-Bedroom 2-Bedroom 3-Bedroom 4-Bedroom
0-BR 1-BR 2-BR 3-BR 4-BR
Expensive 40th Percentile Metro Area

Fair Market Rent prices in Madison are very high compared to the national average. This FMR area is more expensive than 93% of other FMR areas. Fair Market Rent for a two-bedroom apartment in Madison is $1,378 per month.

The previous year, rent for a two-bedroom home was $1,254 per month. This is a 9.89% increase year-over-year.

This FMR rate applies to Morrisonville, WI, Hollandale, WI, Blue Mounds, WI, Dane, WI, Blanchardville, WI, Barneveld, WI, Black Earth, WI, Windsor, WI, Mazomanie, WI, Brooklyn, WI and other cities within the region. The Metro Code or CBSA code for this region is METRO31540M31540.

Additionally, This Fair Market Rent (FMR) area Madison, WI HUD Metro FMR Area spans one county or city in Wisconsin which is listed in the table below. Estimated population of Madison, WI HUD Metro FMR Area FMR area is 542,459 people based on latest Census data.

Compared to the rest of Wisconsin, the Madison FMR area is more expensive than 98% of the state.

Wisconsin Rents Map

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What is Fair Market Rent?

Fair Market Rent is determined each fiscal year by the HUD and is used to set payment standards for federal housing assistance programs in Madison. Fair Market Rent is the 40th-percentile of typical rentals in a given region. Learn more

Median Rent Prices in Madison

To compute the 40th percentile of rent prices the HUD must determine the median or 50th percentile as well. 50th percentile rent prices are NOT fair market rents (unless otherwise noted as a 50th percentile designated region above). However, some home owners or rents may be interested in the median rent prices as well.

50th Percentile Rental Prices:
0-BR Studio / Efficiency $ 1077
1-BR 1-Bedroom $ 1265
2-BR 2-Bedroom $ 1474
3-BR 3-Bedroom $ 1936
4-BR 4-Bedroom $ 2183
Change Year:
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

There is just one county (listed below) within the Madison, WI HUD Metro FMR Area FMR area (most regions, especially metro areas, cover multiple counties). This FMR area covers two metro areas: Madison and Milwaukee.

County / Region Est. Population
Madison, WI Metro 542,459
Zip Codes in Madison, WI HUD Metro FMR Area

There are 52 unique zip codes in this Fair Market Rent (FMR) area:

53507, 53508, 53515, 53516, 53517, 53521, 53523, 53527, 53528, 53529, 53531, 53534, 53544, 53558, 53559, 53560, 53562, 53571, 53572, 53574, 53575, 53589, 53590, 53593, 53594, 53596, 53597, 53598, 53701, 53702, 53703, 53704, 53705, 53706, 53707, 53708, 53711, 53713, 53714, 53715, 53716, 53717, 53718, 53719, 53725, 53726, 53744, 53777, 53783, 53784, 53788 and 53792

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What's Next?

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