Dane County income properties continue to be a popular choice with both local and out-of-state investors. As of August 23rd, we have just 2.5 months of supply across the whole county, which is just slightly above the supply levels for both homes and condos.

Here's a quick snapshot of the Madison area multifamily real estate market through the first 7 months of 2025. Note all of our data is sourced from the South Central Wisconsin MLS. 

Dane County multifamily price per unit

The price per sold unit through the month of July was $209k, even with last year. As the chart below shows, income property prices are trending along historically high levels. 

Gross rent multiplier 

The gross rent multiplier (GRM) is defined as the purchase price divided by the annual operating income. As the graph below shows, the local GRM is currently 10.8 and has consistently been above 10 for the last ten years. These consistently elevated levels indicate investors are willing to pay a premium for Madison area income properties. We anticipate Dane County rental properties (and all forms of local real estate) will continue to be in high demand for many years to come. Here's why. 

What questions do you have about investing in Madison area real estate? 

We're here to be a resource for you and help you learn about our local market. Reach out whenever you have questions. We'd love to help.