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Cheap Homes in Madison, IL

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Madison, IL Foreclosures

Current Market Conditions in in Madison, IL As of April 2026?
In the past month, Madison has seen a slight uptick in home prices by approximately 2%. The number of homes sold has remained stable, indicating that buyer interest continues, although inventory levels are leaning toward a seller's market. The price increases reflect the ongoing demand in the area, driven by its appealing lifestyle and connectivity to larger urban centers.
How much do homes sell for in Madison, IL?
The average home price is currently $79,288.
In Madison, IL, how many homes are available?
There are currently 1 active home listings available in Madison.
What’s the average rental cost in Madison, IL?
The average rental price in Madison is $830.
What is the most expensive home in Madison?
The most expensive home sold in Madison had a price of $3,154,404.
What is currently the cheapest priced home in Madison, IL?
The cheapest home for sale in Madison is priced at $11,346.

Living in Madison, IL

Madison, IL, is a charming, small city with a close-knit community atmosphere and easy access to outdoor activities. With its proximity to St. Louis, the city offers a balance of peaceful residential living while remaining connected to urban amenities.

Buyer vs Seller Market in Madison, IL

Madison's real estate market has shown resilience over the past year, with a steady demand for homes. The mix of affordable housing options and the city's developing amenities has attracted both first-time homebuyers and investors alike.

The current market is characterized by a moderate increase in home prices, aligning with broader trends in nearby metropolitan areas. The demand for rentals has also grown, indicating a healthy rental market.

Home Value Estimator For Madison, IL

There are currently 1,734 real estate properties in Madison, IL, with a median automated valuation model (AVM) price of $58,078.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Madison, IL, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Madison, IL, is $79,288.00, with the most expensive house in Madison, IL, topping out at $3,154,404.00 and the cheapest home in Madison, IL, clocking in at $11,346.00. In other words, there’s something for every potential homebuyer or savvy investor in Madison, IL!

Rent Prices In Madison, IL

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Madison, IL, is on a rollercoaster ride. The average rent price in Madison, IL, is $830.00. Indeed, when looking to rent in Madison, IL, you can expect to pay as little as $540.00 or as much as $1,430.00, with the average rent median estimated to be $850.00. The good news is that finding an affordable and desirable property to rent in Madison, IL -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.

Cheap Homes in Madison, IL

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