M
MortgageMath
Free mortgage calculators for every state

Mortgage Calculator &
Closing Costs: Madison, WI

Mortgage payment estimates, closing cost breakdowns, and homebuying data for Madison, Wisconsin.

Median Home Price
$375K
Population
270K
Avg Monthly Rent
$1,520
Property Tax Rate
1.76%
Madison vs Wisconsin Median
The median home price in Madison is $375,000, which is 34% above the Wisconsin state median of $280,000.

Mortgage Calculator — Madison, WI

Pre-filled with Madison median home price and Wisconsin tax/insurance rates. Adjust for your property.

$
$75,000
%
%
years
WI avg
%
$
Monthly Payment (PITI)
$2,554
Principal + Interest + Tax + Insurance + PMI
Principal & Interest
$1,896
per month
Taxes & Insurance
$658
per month
Total Interest Paid
$383K
over 30 years
Total Loan Cost
$683K
all payments
Payment Breakdown
Loan Amount$300,000
Principal & Interest$1,896
Property Taxes$550
Homeowners Insurance$108
Total Monthly PITI$2,554

Closing Costs — Madison, WI

Estimated closing costs based on Wisconsin rates and fees applied to Madison prices.

$
%
Wisconsin: Avg closing costs 1.4% of price. Transfer tax: 0.3%.
Estimated Closing Costs
$13,293
3.5% of purchase price
Lender Fees
$3,125
origination, underwriting
Third-Party
$3,325
appraisal, title, inspection
Government Fees
$1,125
transfer taxes, recording
Prepaids + Escrow
$5,718
taxes, insurance, interest
Itemized Costs
Loan Origination (0.8%)$2,700
Underwriting Fee$350
Credit Report$75
Appraisal$550
Home Inspection$450
Title Search + Insurance$2,175
Recording Fee$150
Transfer Tax$1,125
Prepaid Taxes (3 mo)$1,650
Prepaid Insurance (12 mo)$1,300
Prepaid Interest (15 days)$902
Escrow Reserves$1,867
Total Closing Costs$13,293

Buying a Home in Madison, Wisconsin

The median home price in Madison is $375,000, 34% above the Wisconsin state median of $280,000. With a population of 269,840, Madison is a mid-size city where home prices reflect strong demand and local economic factors.

Property taxes in Wisconsin average 1.76% annually. This higher-than-average tax rate means a $375,000 home in Madison would carry roughly $550/month in property taxes alone — plan accordingly. Homeowners insurance in Wisconsin runs approximately $1,300 per year. This is within the normal range nationally.

Average rent in Madison is $1,520/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.

Madison presents moderate affordability. The $375K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.

Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Madison.
Rent vs Buy Calculator →
Explore all of Wisconsin: Wisconsin Mortgage Calculator & Closing Costs →

Related Guides

The First-Time Buyer Playbook
Free weekly guide: mortgage tips, market updates, and money-saving strategies. No spam.