Madison, Wisconsin’s Real Estate Market is Heating Up
The Madison area is seeing significant growth from a new generation of buyers. Tech-inspired jobs in the healthcare, information technology, and manufacturing industries are bringing more and more young professionals to the Madison area, where traditionally families, empty nesters, and college students lived. Young professionals are flocking to the city to seize new job opportunities, and as a result are looking to establish some roots to avoid paying rent in Madison, which has the highest rent in the state of Wisconsin at $1,725.
What’s Contributing to this Growth?
Companies like Epic, a healthcare software company located just outside Madison in Verona, WI is one of the area’s tech companies currently attracting young professionals to move and settle down in the surrounding area. A strong job market is just one factor that plays into the overall growth of Madison.
Madison is also known for being a great place to live. In 2014 it was ranked the best place to live in America by livability.com, and more recently was ranked number 3 in the Top 100 Best Places to Live by livability.com. The city has so much to offer from great dining to plenty of green spaces, both within the city and outside of it, as well as just being an easy place to live and get around.
Situated between two lakes, Mendota and Monona, Madison is one of two major American cities that’s located on an isthmus. The Wisconsin capitol city gives residents that lake living lifestyle along with being right in the mix of the University of Wisconsin sports seasons. This combination gives Madison a unique personality that residents love being around.
Madison’s downtown population sits around 260,000, while its greater metro area is home to roughly 650,000 people. According to Zillow Inc., Madison’s metro home value is predicted to increase an additional 4% within the next year and is expected to continue after that. Now is truly a great time to become a real estate agent in Madison.
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