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Madison, WI mortgage & affordability calculator

The typical home in Madison, WI is worth about $400,000. With 20% down that's a loan near $320,000 — the calculator is pre-filled with that figure. State-government and University of Wisconsin employment give Madison one of the most stable job markets in the Midwest, and prices have risen steadily rather than in spikes. Wisconsin's property tax rate is among the highest in the country, a real offset to otherwise moderate home prices.

$2,077.64 / month

Total interest
$427,952
Total paid
$747,952
Payoff
30.0 years
Balance over YearBalance ends near $0 at 30.$0$80k$160k$240k$320k0612182430Year

How much you need to earn

Madison, WI's median household income is about $82,000 a year. Under standard 28/36 lending rules that supports a home price around $269,446 with 20% down — below the $400,000 typical price, so many buyers need a larger down payment, a co-borrower, or a longer commute.

$269,483 max home price

Max loan amount
$189,483
Housing payment budget
$1,913
P&I budget
$1,230
Bound by
front-end ratio

Uses the 28% front-end / 36% back-end DTI guidelines. Lenders vary.

Typical asking rent in Madison, WI is about $1,600 a month, so owning the median home costs roughly $1,161 more per month before tax effects, maintenance, and any change in home value.

Frequently asked questions

What is a typical mortgage payment in Madison, WI?
On the metro's roughly $400,000 typical home with 20% down, the loan is about $320,000. Principal and interest run near $2,078 a month at today's rate, and Madison, WI's property tax plus insurance add about $683, for a full payment near $2,761.
Can I afford a home in Madison, WI on the median income?
The median household income is about $82,000 a year. Under standard 28/36 lending rules that supports a home price around $269,446 with 20% down — below the $400,000 typical price, so buyers often need a larger down payment or a co-borrower.
Is it cheaper to rent or buy in Madison, WI?
Typical asking rent is about $1,600 a month. The full owner payment on a median home is near $2,761, so owning costs roughly $1,161 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Madison, WI?
The effective property tax rate in the core county is about 1.75% of market value — roughly $7,000 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Madison, WI rising or falling?
Home values are up about 4% over the past year. State-government and University of Wisconsin employment give Madison one of the most stable job markets in the Midwest, and prices have risen steadily rather than in spikes. Wisconsin's property tax rate is among the highest in the country, a real offset to otherwise moderate home prices.

Nearby metros

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