Madison Center, Connecticut Real Estate & Housing Market

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Madison Center Housing Information

Index	Madison Center	Connecticut	National
Median home price	$518,500	$269,300	$184,700
Median rent asked	$1,071	$1,094	$949
Avg. people per household	1.9	2.5	2.6
Owner occupied households	59.1%	66.5%	63.6%
Renter occupied households	40.9%	33.5%	36.4%

Above is a snapshot look at the real estate market in Madison Center, CT. In Madison Center, CT, the median house price is $518,500, making the price 93% higher than that the average for Connecticut. Therefore, the affordability of Madison Center, CT area real estate is less affordable than the real estate in other areas of Connecticut. In addition, Madison Center, CT has a median rent price of $1,071; this price is 2% lower than that the average rental price for Connecticut. 59.1% of residents in Madison Center, CT are homeowners, and the average amount of people who reside in each home is 1.9. Madison Center, CT has a wide array of real estate options available, ranging from cost-friendly condos to high-end luxury homes. We filter listings by number of bathrooms and bedrooms, price and area to simplify the search process for Madison Center, CT real estate for sale.

Madison Center Home Affordability

When looking for real estate in Madison Center, CT, nothing is more important than affordability. There are several methods to calculate the affordability of a home, but perhaps the best way is the home price to median household income ratio. In Madison Center, CT, the median price of a home is $518,500 and $63,548 is the median household income. This means that the home price to income ratio is 8.2x, a ratio that is 117% higher than the average in Connecticut. The median home price is divided by the median home income to calculate the home affordability ratio. Homes in Madison Center, CT will be more financially accessable if the ratio has a lower than average home price to home income. These are not the only aspects to look at when determining the affordability of a home. A home affordability calculator offers a much more exact overview of the true affordability of a property. Use the calculator below to better determine how much you can pay for real estate in Madison Center, CT.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Dering Harbor, NY	5	$0	100%
East Haven, CT	29,015	$207,000	12%
Wallingford Center, CT	17,634	$234,900	27%
Deep River Center, CT	2,321	$261,300	41%
Higganum, CT	1,745	$264,000	43%
Madison Center, CT	2,404	$518,500	181%

Cities with similar population

City, State	Population	Home Price	National Avg.
Pottsboro, TX	2,404	$149,200	19%
Le Center, MN	2,404	$118,600	36%
New Town, ND	2,403	$107,300	42%
Valley View, PA	2,403	$150,800	18%
La Porte City, IA	2,403	$116,400	37%
Madison Center, CT	2,404	$518,500	181%

Source: The Madison Center, CT housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).