Market Overview
Home Prices in Madrid, IA
The median home value in Madrid, IA is $289,459 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 5.3% compared to a year ago and up 5.8% from two years prior.
Compared to the U.S. national median of $410,000, homes in Madrid are priced29% below average. Madrid is part of the Ames, IA metro area.
Over the past five years, Madrid home values have risen by approximately34.1%, reflecting strong long-term appreciation in this market.
Price History
Madrid Home Price Trend
2020
$199,604
$200K
—
2021
$215,802
$216K
+8.1%
2022
$241,460
$241K
+11.9%
2023
$249,197
$249K
+3.2%
2024
$259,849
$260K
+4.3%
2025
$274,978
$275K
+5.8%
2026
$289,459
$289K
+5.3%
City Comparison
Madrid vs. National Median
🏠 Madrid
$289,459
National Median
$410,000
At $289,459, homes in Madrid cost 29% 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
$57,892
on $289,459
Monthly P&I
$1,510/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,918/mo
incl. taxes & insurance
Income Needed
$76,720
gross annual (30% rule)
10% Down Option
$28,946
+ PMI applies
Loan Amount (20% dn)
$231,567
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, IA?
The median home value in Madrid is $289,459 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 5.3% year-over-year.
How much have home prices changed in Madrid?
Over the past year, home values in Madrid have increased by 5.3%. Over five years, prices have risen approximately 34.1%.
How much do I need to earn to buy a home in Madrid?
To comfortably afford the median home price of $289,459 with a 20% down payment ($57,892) at today's rates (6.8%), you'd need a gross annual income of approximately $76,720. 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 $289,459, homes in Madrid are 29% below the national average.
What metro area is Madrid part of?
Madrid is part of the Ames, IA metropolitan area. Home prices and market conditions can vary across the broader metro region.