Average Rent in Madison County, VA↓ Rents falling 11.3% YoY

Madison County, VA has rental prices ranging from $621/month to $1,361/month in 2021, depending on unit size. The typical 1-bedroom apartment rents for $700/month — 50% below the national average of $1,400/month. With a median household income of $82,972/year, spending $700/month on a 1-bedroom represents 10% of gross income — within the recommended 30% threshold.

How Madison County Compares

With an average 2-bedroom rent of $922/month, Madison County ranks #31 most expensive of the 68 cities tracked in Virginia — more affordable than 65% of all US cities in our data.

The Madison County Rental Market

The Madison County, VA area has a population of about 13,931 and 20% of households renting rather than owning. That renter share runs below the US average of ~34%, a more homeowner-heavy market where rental inventory can be limited.

Rent Trends

2-bedroom rents in Madison County, VA have fallen by $118/month (11.3%) over the past year, from $1,040 to $922. This rate of decrease is significant and reflects softening demand or increased inventory in the local market.

Affordability

To afford a 1-bedroom apartment in Madison County, VA without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $28,000. The local median household income of $82,972 exceeds that threshold by $54,972, making Madison County relatively accessible compared to local wages.

Economy & Jobs

Madison County, VA has an unemployment rate of 3.1%, 0.8 percentage points below the national average of 3.9%. Strong employment conditions typically sustain rental demand, as workers relocate to the area and local residents maintain stable housing.

Neighborhoods

Home values — and by extension rent levels — vary significantly across Madison County's neighborhoods. Among the highest-value areas are Leon ($426,033 median home value). Renters on a tighter budget may find better value in less central neighborhoods or in adjacent metros with lower overall rent levels.

Is Madison County, VA Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Madison County?

Break-even analysis and mortgage estimates based on local market data.

Living in Madison County

Cost of living, job market, crime rates, and moving cost estimates.