Rent in Madrid, IA
A 2-bedroom in Madrid, IA (ZIP 50156) typically rents for about $990 a month, with a range of $967–$990. Owner-occupied homes in Boone County pay about 1.37% of their value a year in property tax, and the 30-year fixed mortgage rate averaged 7.24% in the week of Oct 29, 2026.
Rent by bedrooms
| Size | Typical | Range across ZIPs | ZIPs |
|---|---|---|---|
| Studio | $790 | $763–$790 | 1 |
| 1 bed | $692 | $583–$800 | 1 |
| 2 beds | $990 | $967–$990 | 1 |
| 3 beds | $1,220 | $1,070–$1,370 | 1 |
| 4 beds | $1,480 | $1,453–$1,480 | 1 |
Typical = median of each ZIP's best guess. Gross rent (rent plus tenant-paid utilities). Sources: HUD Small Area Fair Market Rents (Oct 1, 2026), Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).
Madrid ZIP codes
2 bedsFrequently asked questions
- What is the average rent for a 2-bedroom in Madrid, IA?
- About $990 a month: the median of the typical rents in 1 ZIP code, which range from $967–$990. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 1-bedroom in Madrid, IA?
- About $692 a month: the median of the typical rents in 1 ZIP code, which range from $583–$800. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 3-bedroom in Madrid, IA?
- About $1,220 a month: the median of the typical rents in 1 ZIP code, which range from $1,070–$1,370. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a studio in Madrid, IA?
- About $790 a month: the median of the typical rents in 1 ZIP code, which range from $763–$790. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 4-bedroom in Madrid, IA?
- About $1,480 a month: the median of the typical rents in 1 ZIP code, which range from $1,453–$1,480. Figures are gross rent (rent plus tenant-paid utilities).
- What is the property tax rate in Madrid, IA?
- Owner-occupied homes in Boone County pay a typical 1.37% of their value a year (Census ACS, median taxes paid ÷ median home value, Dec 31, 2024). Investors often pay more after a purchase: the home is reassessed at the sale price and there is no homestead exemption.
- What is the current 30-year mortgage rate?
- The 30-year fixed rate averaged 7.24% in the week of Oct 29, 2026 (Freddie Mac PMMS via FRED). It's a national average for owner-occupied loans; investment property loans usually cost more.
- Where do these Madrid rent figures come from?
- HUD Small Area Fair Market Rents (Oct 1, 2026), Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).