Moving to Madison, WI

Thinking about moving to Madison?

You’ll be in good company. Between 2010 and 2016, more than 19,342 people have moved to Madison, an increase of 8.3%. New residents are attracted to Madison’s farmer’s market, dairy products, beautiful scenery, bike trails and craft beer.

Living

Madison is home to 252,551 Madisonians. With an area of 76.8 square miles, Madison has a population density of 3,288 persons per square mile, which makes it less dense than many other cities of comparable size.

The Madison, WI Metropolitan Statistical Area boasts a population of 648,929 people, of which Madison proper’s population makes up 39%.

Housing

One of the drawbacks of all of Madison’s growth and livability are its relatively high housing prices. The median home value in Madison is $231,100, 15% above the US median value, according to Zillow. The median price per square foot in Madison is $171. Over the past 5 years, home values in Madison have increased by 5%.

Renters in Madison will also have a hard time finding affordable housing. The median rent in Madison is $1,535 per month, which is 7% higher than the US median. Over the past year, rental rates in Madison have increased by 4.2%.

Economy

Madison’s economy is on fire. The Madison metro area’s GDP grew by 26% between 2011 and 2016, from $37.6 billion in 2011 to $47.4 billion in 2016, a total increase of $9.8 billion. The metro area has a per capita GDP of $73,082. According to the US Census Bureau, the median household income in Madison is $61,886, 5% higher than the national median. Madison’s unemployment rate is 2.7%.

Weather

The average annual temperature in Madison is 46.3 degrees. The average annual low temperature is 36.8 degrees, while the average annual high is 55.8 degrees. Madison’s hottest month is July, during which the average high temperature is 82 degrees, while the coldest month is January, when the average low drops down to 11 degrees.

Madison sees an average rainfall of 34.44 inches per year. June is the wettest month, with an average rainfall of 4.53 inches, while January is the dryest month, with an average rainfall of 1.22 inches.

Crime

Madison has an annual violent crime rate of 3.33 violent crimes per 1,000 residents, which is lower than the national median of 3.8 in 1,000. Its property crime rate is 28.97 crimes per 1,000 residents a year, which is higher than the national average of 26.

Traffic & Transportation

Traffic is not as big of a problem in Madison as it is in many other US cities. According to a survey conducted by INRIX, the average commuter in Madison spends 9.4 hours in traffic each year, with about 3% of their time commuting in a traffic jam, a lower portion than average among US cities.

Walk Score gives Madison a walk score of 49.

Cost of Living

Madison is a relatively affordable place to live with a low cost of living. According to the Bureau of Economic Analysis‘s Regional Price Parity survey, which takes into account cost of living metrics including the price of goods and services and housing, Madison has a regional price parity of 106.6, -2.6% below the average for US metro areas.

Demographics

In terms of racial demographics, Madison is 75.2% Non-Hispanic White, 5.9% Hispanic, 6.1% Black, and 9% Asian.

96.5% of those over the age of 25 in Madison have a high school diploma, a higher rate than nationally. 59.6% of those over the age of 25 have a bachelor’s degree, which is higher than the national rate. 26.8% of residents have an advanced or professional degree.

In the 2016 presidential election, 23% of Madison voters voted for the Republican nominee, while 70% voted for the Democratic nominee.