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: Q2, 2020

The latest data from Madison Gas & Electric covers Quarter 2 (April - June) of 2020. The graph below shows the Madison area multifamily vacancy rate for every Q2 from 2004 - 2020. The Q2 vacancy rate increased but was still very low by historical standards. 

Madison WI Multifamily Vacancy Rate June 2020

Madison Apartment Vacancy Rate: year-to-date through June

The year-to-date vacancy rate is up slightly from 2019. 

Madison Apartment Vacancy Rate June 2020 ytd

Annual Madison Multifamily Vacancy Rates: 2004-2019

This second graph shows the annual Madison area multifamily vacancy rate for each of the last 16 years. Rates decreased in 2019 as Dane County's growing population continued to absorb the new supply of apartments entering the market. 

Madison WI 2019 Apartment Vacancy Rate

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. In Q2, vacancy rates increased for the first time after decreasing for 6 straight quarters. Also note the seasonality of the data below. Rates tend to be highest in Q2 and Q3 and lowest in Q1 and Q4. 

Historical Madison WI Apartment Vacancy Rates June 2020

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