Average Rent in Madison, WI
The Fair Market Rent for a 2-bedroom in Madison, WI is $1,694 per month, based on HUD data. With a median household income of $86,827, a household would spend 23.4% of income on housing at Fair Market Rent. Rent has increased 23.5% year over year. The national median 2BR FMR is $1,250/mo for comparison.
Fair Market Rent by Bedroom
| Size | Monthly FMR |
|---|---|
| Studio | $1,268 |
| 1 Bedroom | $1,482 |
| 2 Bedroom | $1,694 |
| 3 Bedroom | $2,236 |
| 4 Bedroom | $2,509 |
Affordability
| Metric | Value |
|---|---|
| Median Household Income | $86,827 |
| Rent Burden (2BR FMR / Income) | 23.4% |
| Income Needed for 2BR (30% rule) | $67,760/yr |