Landlord Resources
How to Get a Loan for a Rental Property
Rental property loans differ from traditional mortgages, needing larger down payments, higher interest rates, and reserves, often disregarding projected rental income.
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What to Know About
Life in Madison & Beyond
Madison shares many of the great qualities that make Illinois a desirable place to live.
Illinois is known for its rich cultural heritage, lively urban centers, and beautiful countryside landscapes. Explore the state's cultural heritage by visiting renowned museums such as the Lincoln Presidential Library and Museum, the Field Museum of Natural History, the Museum of Science and Industry, and the Art Institute of Chicago. The state also has a thriving theater and art scene, including the renowned Steppenwolf Theatre Company in Chicago. Illinois is also home to respected universities like the University of Illinois at Urbana-Champaign and Northwestern University.
Outdoor enthusiasts will love the scenic beauty of the Shawnee National Forest and the adventure-filled trails of the Starved Rock State Park. Sports fans will be in their element in Illinois, cheering on the Chicago Bears (NFL), Chicago Blackhawks (NHL), Chicago Cubs (MLB), Chicago White Sox (MLB), and Chicago Bulls (NBA). Experience famous attractions like the Willis Tower, Navy Pier, and the Lincoln Park Zoo. Also, enjoy the musicals and plays at Broadway-in-Chicago, festivals throughout the summer months, and culinary tours of the local restaurants.
With its vibrant cultural scene, exciting entertainment options, and top-notch educational opportunities, Illinois offers a high quality of life, making it a great place to live.
Rental Market Trends
Madison, IL
As of June 2026, Madison's rental market is stable, offering a predictable rental market where most units lease within a few weeks. Madison's average rent is 46.4% ($786) lower than the Illinois average of $1,694 and 49.5% ($889) lower than the U.S. average of $1,797.
Average Rent
$908
Monthly ChangeMonth Over Month Change
2.2% ($20)
Yearly ChangeYear Over Year Change
6.6% ($64)
Avg. Days on MarketAverage Days on Market
47
| Unit Type | Average Rent | Monthly ChangeMonth Over Month Change | Yearly ChangeYear Over Year Change |
|---|---|---|---|
| 1 Bed | $727 | 3.5% ($26) | 3.7% ($28) |
| 2 Beds | $911 | 1.8% ($17) | 6.3% ($61) |
| 3 Beds | $1,050 | 4.5% ($50) | 3.9% ($43) |
| Nearby Cities | Average Rent | Avg. Rent vs. MadisonAverage Rent vs. Madison | Avg. Days on MarketAverage Days on Market |
|---|---|---|---|
| Granite City | $1,107 | 21.9% ($199) | 47 days |
| East Saint Louis | $1,134 | 24.9% ($226) | 33 days |
| Saint Louis | $1,195 | 31.6% ($287) | 35 days |
| Fairview Heights | $1,872 | 106.2% ($964) | 33 days |
| Collinsville | $1,081 | 19.1% ($173) | 47 days |
Rental market trends are calculated using listing data from RentalSource.
Frequently Asked Questions
Madison Rental Market FAQs
Explore rental prices, market trends, and availability in Madison, IL.
The average rent in Madison, IL is $908 per month.
Homes in Madison typically rent for between $600 and $1,365 per month, with an average of $908 per month.
In Madison, the average rent for a 1-bedroom home is $727 per month, for a 2-bedroom home, $911 per month, and a 3-bedroom home is $1,050 per month.
The average rent in Madison is 49.5% ($889) lower than the national average of $1,797 per month.
The average rent in Madison has decreased by 2.2% ($20) in the last month and decreased by 6.6% ($64) over the past year.
The rental market in Madison, IL, is currently stable, offering a predictable rental market where most units lease within a few weeks.
In Madison, IL, the average rental stays on the market for approximately 47 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.
There are currently 2 rental properties available in Madison, IL.
Based on the current averages, a household would need an annual income of $36,440 to comfortably afford a 2-bedroom home in Madison.
