Rent in Madison, SD
A 2-bedroom in Madison, SD (ZIP 57042) typically rents for about $1,020 a month, with a range of $1,020–$1,154. Owner-occupied homes in Lake County pay about 1.03% of their value a year in property tax, and the 30-year fixed mortgage rate averaged 7.32% in the week of Oct 22, 2026.
Rent by bedrooms
| Size | Typical | Range across ZIPs | ZIPs |
|---|---|---|---|
| Studio | $804 | $804 | 1 |
| 1 bed | $837 | $837–$882 | 1 |
| 2 beds | $1,020 | $1,020–$1,154 | 1 |
| 3 beds | $1,051 | $1,051–$1,375 | 1 |
| 4 beds | $1,193 | $1,193–$1,929 | 1 |
Typical = median of each ZIP's best guess. Gross rent (rent plus tenant-paid utilities). Sources: Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).
Madison ZIP codes
2 bedsFrequently asked questions
- What is the average rent for a 2-bedroom in Madison, SD?
- About $1,020 a month: the median of the typical rents in 1 ZIP code, which range from $1,020–$1,154. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 1-bedroom in Madison, SD?
- About $837 a month: the median of the typical rents in 1 ZIP code, which range from $837–$882. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 3-bedroom in Madison, SD?
- About $1,051 a month: the median of the typical rents in 1 ZIP code, which range from $1,051–$1,375. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a studio in Madison, SD?
- About $804 a month: the median of the typical rents in 1 ZIP code, which range from $804. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 4-bedroom in Madison, SD?
- About $1,193 a month: the median of the typical rents in 1 ZIP code, which range from $1,193–$1,929. Figures are gross rent (rent plus tenant-paid utilities).
- What is the property tax rate in Madison, SD?
- Owner-occupied homes in Lake County pay a typical 1.03% 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 7.32% in the week of Oct 22, 2026 (Freddie Mac PMMS via FRED). It's a national average for owner-occupied loans; investment property loans usually cost more.
- Where do these Madison rent figures come from?
- Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).