Buying In Madison, WI
Sell Your Commercial Property In Madison, WI
From Fitchburg to Sun Prairie, we buy Madison multifamily and commercial apartment properties of 5+ units in every condition. Owners and agents get a straight answer on fit, usually within two business days.
- Clear feedback on your deal, typically within 48 hours
- 5 to 100+ units, stabilized or distressed, listed or off-market
- Owners, agents, and brokers welcome — every conversation is confidential
We buy:Tired landlordsEstate & trust sales1031 exchangesDeferred maintenanceHigh vacancyPartnership splits
Madison Submarkets: Fitchburg · Middleton · Sun Prairie · East Side — Dane County, WI
Market Snapshot
Renter Demand In Madison
Madison, WI is Wisconsin's capital and home to the University of Wisconsin–Madison, which enrolled 51,822 students in fall 2025. Renters occupy 54.0% of Madison homes in ACS 2020-2024 estimates.
This profile covers who rents, how rents compare with HUD's FY2027 fair market rents, the apartment stock, Dane County property taxes and Wisconsin landlord rules. Each figure links to its official source, from the U.S. Census Bureau and HUD to the City of Madison Assessor and the Wisconsin Statutes.
Owners who want to sell multifamily property in Madison will find the numbers buyers check first: vacancy, tax rate and transfer fee. Rental vacancy was 3.3% in the ACS 2020-2024 housing profile. Median gross rent was $1,413 a month.
If you plan to sell commercial property in Madison, WI, the tax and landlord rules below are the ones a buyer will review. Skyline Capital Investments buys 5+ unit apartment buildings from the East Side to Fitchburg, Middleton and Sun Prairie.
UW–Madison enrollment and staff
The University of Wisconsin–Madison reported 51,822 students and 28,017 faculty and staff in fall 2025, according to its official facts page, updated November 5, 2025.State government payrolls
BLS Quarterly Census of Employment and Wages data show 49,366 state government jobs in Dane County in December 2025, or 13.6% of 362,015 covered jobs.Exact Sciences diagnostics campus
Exact Sciences reported 1,514,017 square feet of Madison research, lab and corporate space at December 31, 2025. Abbott completed its acquisition on March 23, 2026, per SEC filings.Our Buy Box
What We Buy In Madison
Asset Type
Multifamily, 5+ Units
Apartment buildings and income-producing residential.
Size
5 – 100+ Units
Sweet spot: 15–25 units.
Condition
Stabilized To Distressed
Value-add, mismanaged, and high-vacancy properties welcome.
Deal Types
Listed Or Off-Market
Direct-to-owner, pocket listings, portfolios.
Local Market Data
Madison Apartment Market
Figures gathered October 2026 from public market data.
Who rents in Madison
Madison is a renter-majority city. Renters occupied 69,252 of 128,261 occupied Madison homes, or 54.0%, in ACS 2020-2024 estimates.
Dane County's renter share is 42.9% in ACS 2020-2024 data. Wisconsin's statewide share is 32.2%. Madison holds 64.2% of Dane County's 107,847 renter households.
Madison counted 278,001 residents and a median household income of $78,050 in ACS 2020-2024 data. UW–Madison reported 51,822 students and 28,017 faculty and staff in fall 2025.
Nearby suburbs show similar tenant demand. Per ACS 2020-2024 tenure data, Fitchburg's renter share is 52.4% and Middleton's is 54.3%. Sun Prairie's share is lower at 39.2%.
Jobs anchor that demand. BLS QCEW data show 49,366 state government jobs in Dane County in December 2025, or 13.6% of covered employment. Exact Sciences, now part of Abbott, reported 1,514,017 square feet of Madison facilities at the end of 2025.
Madison rents and affordability
Madison's median gross rent is $1,413 a month in ACS 2020-2024 estimates. HUD's FY2027 two-bedroom fair market rent for the Madison, WI HUD Metro FMR Area is $1,565.
| Unit size | HUD FY2027 FMR, Madison, WI HUD Metro FMR Area |
|---|---|
| Efficiency | $1,196 |
| One-bedroom | $1,375 |
| Two-bedroom | $1,565 |
| Three-bedroom | $2,047 |
| Four-bedroom | $2,264 |
Source: HUD Fair Market Rents documentation, FY2027. The two-bedroom FMR sits $152 above Madison's all-unit median gross rent, a useful check on whether in-place rents trail the market.
Affordability is tight. In ACS 2020-2024 data, 48.2% of Madison renter households spent 30% or more of income on gross rent. Another 25.0% spent 50% or more.
Rental vacancy was 3.3% in Madison and 2.9% in Dane County, per the ACS 2020-2024 housing profile. Wisconsin's statewide rental vacancy rate was 4.5%.
Dane County's median gross rent is $1,398, slightly below Madison's, under the same ACS 2020-2024 estimates. Dane County's median household income is $89,975, compared with $78,050 in Madison.
Madison apartment stock
Apartments make up a large part of Madison housing. Buildings with five or more units held 58,203 of 133,530 Madison housing units, or 43.6%, in ACS 2020-2024 data.
Large complexes are common. Buildings with 50 or more units held 20,939 Madison homes. Dane County's five-plus share is 33.6%, and Wisconsin's is 17.0%.
Madison's stock is middle-aged. In ACS 2020-2024 estimates, 50.6% of units were built before 1980. The median year built is 1980.
Assessed apartment value reached $9,844 million across 2,210 apartment parcels for 2026, per the City Assessor. That was 9.7% above 2025 and 19.0% of Madison's total assessed value. Anyone selling commercial property in Madison should expect buyers to weigh that rise.
Other classes grew more slowly in the same 2026 report. Commercial value rose 8.3% to $20,172 million, while residential value rose 4.8% to $31,603 million. Madison's total assessed value rose 6.1% to $51,796 million.
Property taxes in Dane County and Madison
A Madison parcel in the Madison Metropolitan School District paid a net rate of $18.66 per $1,000 for the 2025 tax year. That rate appears on a Dane County AccessDane tax record covering county, city, school and technical college levies.
Madison values property at 100% of market value as of January 1 each year, per the 2026 Property Tax Base Report. For 2025, the average assessment ratio was 97.43%, according to the City of Madison 2026 property tax explainer.
Worked example for a $2,000,000 assessed apartment building at the 2025 rate:
- Net rate: 0.018656312, or $18.66 per $1,000
- Annual tax: $2,000,000 × 0.018656312 = $37,312.62
- City of Madison share at its 0.007003 rate: $14,006
The same parcel's net rate was $17.70 per $1,000 for the 2024 tax year. That is a 5.4% increase in one year, or $1,906.68 more on a $2,000,000 assessment.
The example uses one parcel's rate, so confirm the rate on your own AccessDane bill. Owners who sell commercial property in Madison, WI can use that bill to show buyers actual carrying costs.
2026 assessment notices were scheduled for mailing May 1, and Open Book ran May 4 to May 8, 2026. Objections were due May 15, 2026, and commercial filings need income and expense statements plus a January 1 rent roll.
Wisconsin charges the grantor a real estate transfer fee of 30 cents per $100 of value under Wis. Stat. 77.22(1). On a $2,000,000 sale, that fee is $6,000.
Landlord rules for Madison rentals
Wisconsin bars local rent control. Wis. Stat. 66.1015(1) says no city, village, town or county may regulate the amount of rent or fees for a residential rental dwelling unit.
ATCP 134.06(2) requires landlords to return security deposits, less lawful deductions, within 21 days after the tenancy ends. Buyers will ask which deposits transfer at closing.
For unpaid rent, Wis. Stat. 704.17 allows a 5-day pay-or-vacate notice on month-to-month tenancies and leases of one year or less. Leases longer than one year require a 30-day notice. Ending a month-to-month tenancy takes at least 28 days' notice under Wis. Stat. 704.19(3).
Madison requires every rental dwelling unit to have an emergency contact on file with Building Inspection under MGO 27.04(2)(k). An owner who ignores an official notice for 30 days faces a $691 citation.
Madison also runs systematic inspections in designated areas, where rental units are inspected inside and out. If you plan to sell commercial real estate in Madison, WI, confirm whether your building sits in one of those areas.
What it means for a Madison apartment owner
Madison pairs a 54.0% renter share with 3.3% rental vacancy, which supports steady occupancy for well-run buildings. Rising assessments and an $18.66 net rate make taxes a central part of any sale.
Buyers will also price the demand base. UW–Madison's 51,822 students and Dane County's 49,366 state government jobs give Madison a broad and steady pool of renters.
To sell your apartment building in Madison, start with a current rent roll and two years of operating statements. Then test pricing with our cap rate calculator.
Skyline Capital Investments buys 5+ unit apartment buildings and can make an offer without a public listing. Owners ready to sell commercial property in Madison, WI can start on our sell my apartment building page.
Before You Sell
Selling In Madison
More about selling in Wisconsin →Investing in Madison? See apartment syndications in Madison →
- Madison holds 64.2% of Dane County's 107,847 renter households, so most county apartment demand sits inside city limits, per ACS 2020-2024 estimates.
- Owners who plan to sell commercial real estate in Madison, WI should gather operating statements and a current rent roll before talking to buyers.
- Madison's assessor raised total apartment value 9.7% for 2026, compared with 6.1% for the whole tax base, per the 2026 Property Tax Base Report.
- Every Madison rental unit needs an emergency contact on file under MGO 27.04(2)(k). Ignoring a notice for 30 days brings a $691 citation.
Seller Guides
Selling In Madison? Common Situations We Handle
Learn More
Taxes & Rules For Madison Property
The Wisconsin rules that shape any deal in Madison: what a sale costs in tax, how buildings are taxed, what landlords must follow, and how to defer gains.
Madison Seller FAQ
How do I sell commercial property in Madison, WI without listing it?
Start with a current rent roll, two years of operating statements and your latest AccessDane tax bill. A direct buyer can review those records and make an offer without a public listing. Also list every security deposit you hold, because ATCP 134.06(2) gives tenants a 21-day return deadline after a tenancy ends. Clean records shorten due diligence and reduce price changes late in the deal.
Does Madison have rent control?
No. Wis. Stat. 66.1015(1) says no city, village, town or county may regulate the amount of rent or fees for a residential rental dwelling unit. Wisconsin's landlord-tenant notice rules appear in Wis. Stat. ch. 704. Owners who sell multifamily property in Madison can show recent increases as part of the income record.
What are property taxes on a Madison apartment building?
A Madison parcel in the Madison Metropolitan School District paid a net rate of $18.66 per $1,000 for the 2025 tax year, per AccessDane. On $2,000,000 of assessed value, that is about $37,312.62 a year. The City of Madison's own rate was 0.007003, or $14,006 on the same value. Check your own bill for the exact rate.
When can I appeal a Madison apartment assessment?
For 2026, assessment notices were scheduled for mailing May 1 and Open Book ran May 4 to May 8. Objections to the Board of Assessors were due by 4:30pm on May 15, 2026. Commercial and multi-unit filings need income and expense information, including a January 1 rent roll. A missed deadline requires a waiver request to the Board of Review.
What transfer fee applies when I sell commercial real estate in Madison, WI?
Wisconsin imposes a real estate transfer fee on the grantor under Wis. Stat. 77.22(1). The rate is 30 cents for each $100 of value or fraction of $100. On a $2,000,000 sale, the fee is $6,000. Because the grantor is the seller, build the fee into your net proceeds when comparing offers.
How fast must I return tenant security deposits in Madison?
Wisconsin's ATCP 134.06(2) requires landlords to return a security deposit, less lawful deductions, within 21 days after the tenancy ends. The trigger date shifts for early or late move-outs, so track each tenant separately. During a sale, list every deposit held so the buyer can take over the obligation cleanly at closing.
What if my Madison building has vacancies or deferred maintenance?
That is often where we add the most value. We buy buildings that need renovation, new management, or lease-up, and we account for that in our offer.
How does a sale to you work in Dane County?
Send the address, unit count, and any financials. We give feedback, then a written letter of intent if it fits, followed by diligence and a closing date that works for you.
Is it possible to sell rental property in Madison without evicting tenants?
It is. We buy apartment buildings occupied, and tenants stay on their current leases. Skyline Capital Investments is a commercial real estate buyer of 5+ unit buildings, so occupied properties are the norm for us.
Do I need a broker to sell my apartment building in Madison?
No. You can work with us directly, or your broker can bring the deal to us. Either way, conversations stay confidential.
Submit A Deal
Get An Offer Review In Madison
A few details are enough to start. We respond to every Madison submission, including off-market and pocket listings.
