CALCMONEY // MORTGAGE // WI // MADISON
Calculate your monthly mortgage payment using Madison-specific property tax rates and local market data.
$360,000
6.95%
2.02%
100
| Principal & Interest | $1,906 |
| Property Tax | $606 |
| Homeowners Insurance (est.) | $120 |
| Total Monthly Payment (PITI) | $2,632 |
$72,000
$398,308
$112,818/yr
The median home price in Madison is $360,000, near the national median of $420,000. With a median household income of $72,000, the price-to-income ratio is 5.0x — meaning buyers typically spend 5.0 years of gross income on the purchase price.
Property taxes in Madison run 2.02% of assessed value. On the median home, that is $7,272 per year, or $606 per month added to your mortgage payment. This is significantly above the national average of 1.1%, making property taxes a major factor in your total housing cost.
Wisconsin has a state income tax. Factor your take-home pay into how much mortgage you can comfortably carry each month.
The cost of living index in Madison is 100 (national average = 100). Day-to-day expenses beyond housing are close to the national average.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $288,000 loan saves $12,960 in interest over 30 years.
Compare Top Madison Mortgage Lenders