Madison, WI Apartment Vacancy Rates
MG&E publishes quarterly data on the latest apartment vacancy rates in Madison, including rates broken down by zip code. This data is an excellent resource for renters, investors, buyers, and sellers. When multifamily vacancy rates are low, this means rental supply is tight and rents are on the rise. When apartment supply is low and rents rise, renters have financial incentive to buy a home or condo instead of paying rent. As the data below shows, vacancy rates are trending lower again even though thousands of new construction apartments have been built over the last few years.
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Madison Apartment Vacancy Rate: Q3, 2019
The latest data from Madison Gas & Electric covers Quarter 3 (July - Sept) of 2019. The graph below shows the Madison area multifamily vacancy rate for every Q3 from 2004 - 2019. The Q3 vacancy rate has decreased each of the last two years. Dane County's growing population is absorbing the growing inventory of apartments and keeping rates low.
Madison Apartment Vacancy Rate: year-to-date through September
Through the first 9 months of the years, the vacancy rate has decreased from each of the previous two years, and is now at the lowest level since 2016.
Annual Madison Multifamily Vacancy Rates: 2004-2018
This second graph shows the annual Madison area multifamily vacancy rate for each of the last 15 years. Rates rose in 2018 but remained below 4%. We expect rates to decrease in 2019 when all 4 quarters of data become available.
Madison Apartment Vacancy Rates - Historical Statistics
This table shows the Madison area multifamily vacancy rate for each quarterly, year-to-date, and annual time period dating back 2004. A red data point indicates an increase from the same time period of the previous year. Vacancy rates have now decreased 5 straight quarters on a year-over-year basis. Also note the seasonality of the data below. Rates tend to be highest in Q2 and Q3 and lowest in Q1 and Q4.
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