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
$360,000 buys the median home in Madison right now. With 20% down, that's a $72,000 down payment and a $288,000 loan, set against a $72,000 median household income.
Factor in $606/month for property tax in Madison, based on the area's 2.02% effective rate applied to the median home price. That's $7,272 annually.
Between the $2,632/month mortgage payment and Wisconsin's state income tax, your real housing cost calculation needs your after-tax number, not your gross salary.
Beyond housing, Madison's cost of living index sits at 100 (national average = 100), running at the national baseline for groceries, transportation, and everyday services.
Madison's median home price runs 60% higher than nearby Milwaukee: $225,000 there versus $360,000 here.
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