Market Overview
Home Prices in Madrid, AL
The median home value in Madrid, AL is $155,909 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 5.5% compared to a year ago and up 0.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Madrid are priced62% below average. Madrid is part of the Dothan, AL metro area.
Over the past five years, Madrid home values have risen by approximately27.2%, reflecting strong long-term appreciation in this market.
Price History
Madrid Home Price Trend
City Comparison
Madrid vs. National Median
At $155,909, homes in Madrid cost 62% below the national median of $410,000. This makes Madrid a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Madrid?
20% Down Payment
$31,182
on $155,909
Monthly P&I
$813/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,033/mo
incl. taxes & insurance
Income Needed
$41,320
gross annual (30% rule)
10% Down Option
$15,591
+ PMI applies
Loan Amount (20% dn)
$124,727
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Madrid, AL?
The median home value in Madrid is $155,909 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 5.5% year-over-year.
How much have home prices changed in Madrid?
Over the past year, home values in Madrid have increased by 5.5%. Over five years, prices have risen approximately 27.2%.
How much do I need to earn to buy a home in Madrid?
To comfortably afford the median home price of $155,909 with a 20% down payment ($31,182) at today's rates (6.8%), you'd need a gross annual income of approximately $41,320. This assumes keeping total housing costs at or below 30% of gross income.
How does Madrid compare to the national average home price?
The national median home value is approximately $410,000. At $155,909, homes in Madrid are 62% below the national average.
What metro area is Madrid part of?
Madrid is part of the Dothan, AL metropolitan area. Home prices and market conditions can vary across the broader metro region.