Minnesota, known as the "Land of 10,000 Lakes", boasts breathtaking landscapes and a thriving arts and cultural community that enchants you. Immerse yourself in Minnesota's roots and history through the City Museum and the Science Museum of Minnesota, or invest in your education through the University of Minnesota, St. Cloud State University, and Minnesota State University, Mankato. In addition, residents can enjoy a vibrant arts and cultural scene in the Twin Cities of Minneapolis and St. Paul, including the famous Walker Art Center and the Minnesota Orchestra, providing a wealth of entertainment options.

Sports enthusiasts can enjoy cheering on professional teams such as the Minnesota Vikings (NFL), Minnesota Twins (MLB), and Minnesota Timberwolves (NBA), providing ample opportunities for excitement. Explore famous attractions like the Mall of America, the James J. Hill House, and the historic town of Duluth, each providing a unique glimpse into Minnesota's history and culture. In addition, the state offers many outdoor recreation opportunities, from boating and fishing in its 10,000 lakes to skiing in the Minnesota River Valley.

Minnesota offers a unique blend of natural beauty, quality of life, and affordability, making it a great place to call home.

Rental Market Trends

Madison, MN

As of November 2026, Madison's rental market is stable, with rentals spending about 29 days on the market, about the same as in Minnesota (29), and rents about flat over the past year. Madison's average rent is 42.3% ($684) lower than the Minnesota average of $1,617 and 54.2% ($1,103) lower than the U.S. average of $2,036.

Average Rent

$933

Monthly ChangeMonth Over Month Change

0.04%

Yearly ChangeYear Over Year Change

0.2% ($2)

Days on Market

Unit Type	Average Rent	Monthly ChangeMonth Over Month Change	Yearly ChangeYear Over Year Change
1 Bed	$824	0.13% ($1)	0.4% ($4)
2 Beds	$951	0.10% ($1)	0.8% ($7)
3 Beds	$1,133	0.28% ($3)	2.8% ($31)

Based on rentals advertised on RentalSource in and around Madison.

Frequently Asked Questions

Madison Rental Market FAQs

Explore rental prices, market conditions, and affordability in Madison, MN.

What is the average rent in Madison, MN?

The average rent in Madison, MN is about $933 per month.

What is the average rent for different bedroom sizes in Madison, MN?

In Madison, the average rent is about $824 per month for a 1-bedroom apartment, about $951 for a 2-bedroom apartment and about $1,133 for a 3-bedroom apartment.

How do rent prices in Madison, MN compare with the national average?

The average rent in Madison is 54.2% ($1,103) lower than the national average of $2,036 per month.

How competitive is the rental market in Madison, MN?

The rental market in Madison, MN is currently stable, with rentals spending about 29 days on the market, about the same as in Minnesota (29), and rents about flat over the past year.

Can I afford to rent an apartment in Madison, MN?

Based on the current averages, a household would need an annual income of about $38,000 to comfortably afford a 2-bedroom apartment in Madison.

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