Madison County, Virginia Housing Market
In Madison County, Virginia, the median home value is $370,300, with a median monthly rent of $1,166. This places Madison County at #363 nationally out of 3134 counties by median home value, and #31 within Virginia.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,014
- Establishments: 417
- BLS QCEW, 2025
Housing Supply
- Single-family: 48
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 5,654 (avg $80,656)
- Outflow: 5,325 (avg $80,062)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 1 active ZIP codes in Madison County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 22960 | 299.3 | +8.04% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Madison County Compares
| Metric | Madison County | Virginia Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $370,300 | $295,807 | $227,706 |
| Median Gross Rent | $1,166 | $1,169 | $968 |
| Owner Occupancy Rate | 77.8% | 70.8% | 73.3% |
| Price/Rent Ratio | 26.5 | 20.3 | 18.7 |
Market Analysis
The median home value in Madison County is 25.2% above the Virginia state average and 62.6% above the U.S. national average. The median rent of $1,166/month is about equal to the state average.
With a price-to-rent ratio of 26.5, Madison County is a strongly rent-favored market. Home prices are high relative to rents, meaning renting is typically far cheaper than owning in the near term.
Madison County has an owner-occupancy rate of 77.8%, compared to 70.8% in Virginia and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Sussex County | New Jersey | $369,400 | $1,585 |
| Hillsborough County | Florida | $371,500 | $1,667 |
| Bonneville County | Idaho | $368,800 | $1,133 |
| Latah County | Idaho | $368,600 | $929 |
| Custer County | South Dakota | $372,100 | $1,112 |
Other Counties in Virginia
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Chesterfield County | $366,000 | $1,629 | 76.7% |
| Orange County | $364,200 | $1,205 | 78.7% |
| Chesapeake city | $378,400 | $1,586 | 74.4% |
| Mathews County | $360,900 | $1,032 | 84.0% |
| Henrico County | $359,200 | $1,541 | 64.5% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).