$900
Total Monthly Price
- 2 Beds
- 1 Bath
- 800 Sq Ft
- Condo for Rent
405 Summit St Unit 2, Madison, NC 27025
One half of a duplex in Madison, NC. Located in a quiet neighborhood setting. $25 pet fee per pet and per month.
Frequently Asked Questions
How much does it cost to rent a condo in Madison, NC?
The median rent for a condo in Madison, NC is $1,097 per month, though prices vary by neighborhood, size, and property type. As of August 2026, single-family homes tend to be the most affordable option.
How much do you need to make to afford rent in Madison, NC?
To comfortably afford the median rent in Madison, NC, a household needs to earn roughly $43,880 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 $1,097 per month in Madison, NC, renters typically need to show $3,291 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, NC?
In Madison, NC, the price-to-rent ratio is 17.5, 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, NC are best for renting a condo?
The best neighborhood for renting in Madison, NC depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a condo include Abbotts Creek and Lawndale Homes, each with its own character and price range.
