Metro area index
Home appreciation in the Madison, WI metro area
FHFA HPI® data shows the Madison, WI metro area's all-transactions index changed +4.9% over the year to Q2 2026, versus +5.6% for Wisconsin and +3.0% for the U.S. That ranks 106th of 410 metro areas and divisions FHFA tracks.
- 1-year change
- +4.9%
- 5-year change
- +49.0%
- Since Q1 1995
- +276%
- Metro rank (1 year)
- 106th
U.S. +3.0%
U.S. +41.3%
U.S. +292%
of 410
Madison, WI vs Wisconsin and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- Madison, WI: 376.1
- Wisconsin: 363.5
- United States: 391.6
Appreciation by time window
| Window | Metro | WI | U.S. | Gap vs WI | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +4.9% | +5.6% | +3.0% | −0.7 pts | +1.9 pts |
| 3 years | +17.6% | +20.9% | +12.9% | −3.3 pts | +4.7 pts |
| 5 years | +49.0% | +54.0% | +41.3% | −4.9 pts | +7.7 pts |
| 10 years | +96.6% | +106% | +93.3% | −9.1 pts | +3.3 pts |
| Since Q1 1995 | +276% | +264% | +292% | +12.5 pts | −15.5 pts |
3-digit ZIP regions in the Madison, WI area
Regions with at least 10% of their 2010 population inside the metro, largest overlap first. A 3-digit ZIP region can extend beyond the metro boundary.
| 3-digit ZIP region | State | 1 year | 5 years | Since Q1 1995 | Population in metro |
|---|---|---|---|---|---|
| 537 · Madison, WI area | WI | +4.0% | +50.5% | +308% | 100% |
| 535 · Janesville, WI area | WI | +5.2% | +50.9% | +256% | 53% |
| 539 · Beaver Dam, WI area | WI | +7.7% | +62.5% | +300% | 24% |
Boom, bust, and recovery in Madison, WI area
Madison, WI area's index peaked in Q1 2008, fell 8.1% to its low in Q2 2012, and regained its peak in Q4 2015, about 7.8 years after the top. Today it sits +104% versus that 2000s peak. How every state and ZIP region fared
| Area | 2000s peak | Low point | Peak to low | Back to peak | Today vs peak |
|---|---|---|---|---|---|
| Metro | Q1 2008 | Q2 2012 | -8.1% | Q4 2015 (7.8 yrs) | +104% |
| WI | Q1 2008 | Q1 2014 | -11.9% | Q2 2017 (9.2 yrs) | +97.4% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, Madison, WI area's index has changed +69.9% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | Metro after inflation | WI after inflation | U.S. after inflation |
|---|---|---|---|---|
| 1 year | +3.9% | +1.0% | +1.7% | -0.8% |
| 3 years | +9.8% | +7.1% | +10.1% | +2.8% |
| 5 years | +24.0% | +20.1% | +24.1% | +13.9% |
| 10 years | +39.1% | +41.4% | +47.9% | +39.0% |
| Since Q1 1995 | +121% | +69.9% | +64.2% | +76.8% |
If you bought in the Madison, WI area in…
An example $300,000 purchase grown at the metro index rate to Q2 2026.
| Bought in | Index change | $300,000 then, at the metro rate |
|---|---|---|
| Q2 1995 | +270% | $1,110,035 |
| Q2 2000 | +198% | $894,151 |
| Q2 2005 | +116% | $647,409 |
| Q2 2010 | +117% | $649,758 |
| Q2 2015 | +107% | $620,048 |
| Q2 2020 | +64.7% | $494,235 |
| Q2 2021 | +49.0% | $447,058 |
| Q2 2023 | +17.6% | $352,807 |
| Q2 2025 | +4.9% | $314,746 |
Frequently asked questions
- How much have home prices risen in the Madison, WI area?
- FHFA HPI® data for the Madison, WI metro area shows changes of +4.9% over one year, +49.0% over five years, and +96.6% over ten years to Q2 2026, and +276% since Q1 1995.
- Is the Madison, WI area beating the national average?
- Over the past year the metro's index moved +1.9 pts versus the U.S.; over five years the gap is +7.7 pts.
- What area does this metro index cover?
- FHFA computes metro indexes using the counties in each OMB-defined metropolitan statistical area. The index covers the whole area, so individual neighborhoods and homes can differ from it.