Named in honor of former president James Madison and known for its stunning beaches, Madison, Conn., in New Haven County, is considered one of the nation’s best places to live. Madison residents experience over six miles of beaches across the Long Island Sound, most notably Hammonasset Beach State Park, where the beach is two miles long.
With over 100 acres of parks and wide open spaces, luxury waterfront properties, and a sophisticated small-town charm, the community that makes up Madison provides residents and visitors with an enchanting oasis. Families love the public school system, which can help offset the area’s relatively high cost of living. With stunning homes, breathtaking views, and a premium downtown area, Madison more than justifies its price.
Let’s further investigate the cost of living in Madison and the amenities that make it worthwhile.
Buying a home
However, the cost of housing in Madison is significantly less than you could expect to pay in New York City. Moreover, Madison homes have appreciated about 43% over the past five years, whereas New York City real estate has appreciated 28%. It’s easy to see why so many New Yorkers have crossed into Connecticut in the last few years.
Luxury housing in Madison usually has high square footage, which justifies more expensive home prices. As of July 2023, there were six homes publicly listed in Madison for over $2 million, and each had over 4,000 square feet. At the same time, the 20 homes listed for $1 million to $1.5 million averaged 3,500 square feet. And if a seaside location is your main priority, you can usually find several Madison waterfront homes for sale.
Regarding short-term rentals, nearly all the Madison properties listed on Airbnb are close to Long Island Sound. The Sound is a major draw for tourists, and most travelers want to stay in a property with a view of the water. Still, you usually don’t get a touristy feel from Madison’s downtown and beach areas.
Since Madison residents earn about $100,000 a year, they can expect full-time care to cost about $1,000 a month (or about $12,000 a year).
Making the move
Joe Piscitelli has been immersed in real estate for his entire adult life. Specializing in upscale waterfront homes, Joe will help you make Madison your home. With numerous accolades to his name, Joe Piscitelli brings a steadfast commitment to ethics, hard work, and 40 years of residential experience to ensure your Madison real estate journey goes as smoothly as possible. Contact Joe today.
*Header photo courtesy of Shutterstock