$1,895 Per Month
- 4 Beds
- 2 Baths
- 1,725 Sq Ft
- House for Rent
283 Harold Murphy Dr, Madison, AL 35756
283 Harold Murphy Dr, Madison, AL 35756
Frequently Asked Questions
How much does it cost to rent a home in Madison, AL?
The median rent for a home in Madison, AL is $1,900 per month, though prices vary by neighborhood, size, and property type. As of September 2026, condos tend to be the most affordable option while single-family homes and townhouses are currently more expensive.
How much do you need to make to afford rent in Madison, AL?
To comfortably afford the median rent in Madison, AL, a household needs to earn roughly $76,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,900 per month in Madison, AL, renters typically need to show $5,700 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Madison, AL?
In Madison, AL, the price-to-rent ratio is 16.0, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Madison, AL are best for renting a home?
The best neighborhood for renting in Madison, AL depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include Burgreen Gin, Monrovia, Edgewater, Capshaw and Greenbrier, each with its own character and price range.
