Madison Metro Stats
Madison Metro Background
Madison is the capital of Wisconsin and the second largest city in the state. It is located in the south-central region of Wisconsin and is known for its lakes, parks, and cultural attractions. The city has a population of approximately 258,000 people and covers an area of 94 square miles. Madison is known for its diverse cultural scene, including a thriving music and arts community, a variety of museums, and numerous festivals and events throughout the year.
Madison is surrounded by several lakes, including Lake Mendota, Lake Monona, and Lake Wingra, which provide recreational opportunities for residents and visitors. The city also has numerous parks and green spaces, including the 700-acre University of Wisconsin Arboretum and the 1,260-acre Henry Vilas Zoo. Madison is also home to several institutions of higher education, including the University of Wisconsin-Madison, which has a student population of over 42,000.
Madison has a thriving economy, with a diverse mix of industries including healthcare, education, technology, and government. The city is also home to several major employers, including Epic Systems, American Family Insurance, and the State of Wisconsin. Madison is known for its high quality of life, with excellent schools, a low cost of living, and a strong sense of community.
Madison is known for its progressive political climate, with a history of activism and community engagement. The city was a hub of the progressive movement in the late 19th and early 20th centuries, and continues to be a leader in progressive causes such as environmental protection, workers' rights, and social justice. Madison is also home to the Wisconsin State Capitol, which is one of the most recognizable buildings in the city and a symbol of Wisconsin's political history.
The Wisconsin state government and the University of Wisconsin–Madison remain the top two dominant economic influences within the city. However, Madison's economy today is evolving from a government-based economy to a consumer services and high-tech base, particularly in the health, biotech and advertising sectors. The main downtown thoroughfare is State Street, a cultural focal point of the city, which links the University of Wisconsin campus with the State Capitol Square, and is lined with restaurants, espresso cafes and shops. Madison is also home to a number of historical sites and popular festivals, including the Rhythm and Booms celebration, the largest fireworks display in the Midwest as well as the Great Taste of the Midwest craft beer festival, the second longest running such event in North America. In winter months, sports enthusiasts enjoy ice boating, ice skating, ice fishing, cross-country skiing, ice hockey and snow-kiting.
Madison Area’s Explosive Growth
Dane County is Wisconsin's second-most populated county in Wisconsin. From 1980 to 2019, Dane County's population grew by an astonishing 69.0%, from 323,545 to 546,695, which equates to an annual growth rate of 1.77%. During the same time period, Milwaukee County (Wisconsin's most populated county) decreased by 2.0%, from 964,988 to 945,726.
Every year, U-Haul publishes a summary of the total net migration of U-Haul do-it-yourself mover trucks for a myriad of American cities (known as the U-Haul Growth Index). The study is a great indicator of where people are moving to/from. In the most recent 2021 study, Madison, WI ranked 5th on the list on U-Haul's U.S. Growth Cities, meaning that there were only four cities in America that had a larger positive net migration of U-Haul mover trucks. Most of the cities that made the growth list were in Florida and Texas. The only other city in Wisconsin to make the list was Milwaukee (to the east), which ranked 14th in 20201 (down from 13th in 2020).
Madison’s Real Estate Market
Madison’s Multi-Family Vacancy Rates
- MG&E reported 4.84% rental vacancy rate in the Madison metro area as of Q2 2021. The 53528 zip code (Cross Plains) had the lowest vacancy rate, at 1.78%, and the 53705 zip code (near West Side) had the highest vacancy rate, at 11.10%.
- Berkadia reported a 2.1% vacancy rate in the Madison metro area as of Q3 2021.
Madison Appraisal and Assessment Resources
Below are some free Madison area assessment and appraisal resources.
- Dane County: Access Dane
- MG&E: Madison multifamily rental vacancy rates
- City of Madison: Property search
Property Taxes
The City of Madison allows property taxes to be paid in full by January 31, or in four installments. The due dates for each installment are on January 31, March 31, May 31, and July 31. Each individual installment may vary from the other. If paying property taxes via installments, taxpayers can pay at any time and whatever amount, as long as the minimum due is paid by the specified due date. Property tax payments may be made by phone, mail, in-person, or drop box.
Dane County Municipalities
Cities
Villages
Townships
Madison Metro Service Area
ValCore Appraisal® is experienced in providing commercial appraisals on a variety of property types throughout the Madison Metro, including condos, industrial, office, retail, and vacant land. We specialize conduct real estate appraisals in Dane County, including: Fitchburg, Madison, Monona, Stoughton, Sun Prairie, and Verona.
About ValCore
Contact ValCore Appraisal if you need help with your commercial and residential real estate appraisal needs. Our appraisal staff empower investors, owners, and tenants with intelligent strategies for insightful real estate decisions. ValCore Appraisal has been in business for 7 years, and continues to grow by providing exceptional service to our clients. ValCore Appraisal® is the premier full service real estate appraisal servicing the Madison Metro.