Total monthly cost of ownership
Cost to Own a Home in Madison, North Carolina
A $145,000 home here costs
$1,238per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $745. The real number is $493 higher every month — 66% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Madison against Rockingham County and North Carolina
| Measure | Madison | Rockingham County |
|---|---|---|
| Median home value | $144,900 | $156,000 |
| Median property tax | $1,389 | $1,230 |
| Effective tax rate | 0.959% | 0.788% |
| Median gross rent | $730 | $789 |
| Population | 2,198 | 91,585 |
The weather behind that power bill
Madison sits in Rockingham County, which averages a high of 87.5°F in its hottest month and a low of 28.7°F in its coldest, with 47.78" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,340 cooling and 3,825 heating degree days, which is what sets the $136 electricity line above.
See the full climate breakdown for Rockingham County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Rockingham County
Full Rockingham County cost breakdown · Every county in North Carolina
Common questions
How much does it cost to own a home in Madison?
A $145,000 home in Madison, North Carolina costs approximately $1,238 per month with 20% down at 6.66%. That is $745 principal and interest, $116 property tax, $53 homeowners insurance, $204 utilities and $121 set aside for maintenance.
What is the property tax rate in Madison?
Madison has an effective property tax rate of 0.959%, based on a median home value of $144,900 and median real estate taxes of $1,389. That is higher than the Rockingham County average of 0.788%.
What is the average home price in Madison?
The median owner-occupied home value in Madison, North Carolina is $144,900, against $156,000 across Rockingham County.
Is it cheaper to rent or buy in Madison?
Median gross rent in Madison is $730 a month, against $1,238 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Madison — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for North Carolina.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.