The Madison city planning authority projects that by 2030, there will be an increase of 9,300 housing units and approximately 18,400 new residents. To accommodate this level of growth, single-family homes alone will not suffice, and in fact, new developments in the form of condos and townhomes are continuing throughout Dane County. Following a family preparing to move and looking at new construction provides a clear picture of the housing situation in Madison.

The first thing this family checked was the price. According to data from Redfin and Zillow, as of June 2026, the median sale price for single-family homes in Madison is $537,300, which is a 7% increase from $501,250 a year earlier. During the same period, the median price for condos is $335,250, which has actually decreased by 3% compared to a year ago, and the median asking price for new listings of condos has dropped to $285,000. This means there is nearly a $200,000 difference between single-family homes and condos.

The next thing they looked into was the supply situation. Recently, there have been about 250 condos on the market in Dane County, and as new developments continue, the options are gradually expanding. However, the rate of condos that do not sell and expire after being listed is 19%, which is higher than the 14% for single-family homes. This can be interpreted as an indication that as the number of condo listings increases, buyers have a wider range of choices based on price and condition.

The last thing this family considered was who prefers which type of housing. According to local real estate analysts, interest in condo living is rising among both millennials looking for their first home and baby boomers wanting to reduce maintenance burdens after retirement. In contrast, families with children still tend to prioritize single-family homes and townhomes with yards.

This family also looked at townhomes. In Madison, the number of townhome listings is lower than that of single-family homes or condos, making it difficult to find price comparison data. However, the agent explained that prices are generally higher than condos but lower than single-family homes. Many buyers approach townhomes as a compromise between condos and single-family homes, given that they come with at least a small yard and only require maintenance of the exterior walls of individual units.

Ultimately, this family decided to prioritize condos, considering their budget and commuting distance. The fact that they are not far from the university and downtown while having lower maintenance burdens was crucial. However, among the condo listings, there are some older buildings that are scheduled for major renovations soon, so they went through the process of checking the HOA reserve fund status and recent meeting minutes before signing a contract.

For families considering both condos and townhomes, it is advisable to also look at accessibility to Madison's public bus routes. The conclusion this family reached was that locations where living without a car is possible tend to have higher satisfaction rates, even if the management fees are somewhat higher.

For families moving to Wisconsin, it is important to calculate the unique property tax burden in Madison in advance. Wisconsin's property tax rates are not low compared to other Midwestern states, so if you only budget based on the purchase price, the combined monthly taxes and management fees could be more burdensome than expected. Investors considering rental income should also keep in mind that demand fluctuates by semester due to the university's characteristics in Madison.

If a Korean family is choosing a neighborhood based on school districts in Madison, it is advisable to keep in mind that single-family homes near the University of Wisconsin or in areas with highly rated public school districts tend to have fierce competition. While referencing ratings from GreatSchools or Niche, it is important to verify the assigned school for the actual address, as school district boundaries can change. Families moving to Madison should also check the unique property tax rates in Wisconsin. This article is not investment or legal advice, and it is recommended to consult with a professional before finalizing any contracts.