Madison Homes under $500,000

Welcome to Madison, Wisconsin – a vibrant city nestled between the stunning lakes of Mendota and Monona, and the seat of Dane County. Known for its rich cultural scene, Madison is a hub of innovation, education, and natural beauty. Home to the prestigious University of Wisconsin-Madison, the city boasts a youthful energy, making it an ideal place for families, professionals, and students alike. With its charming downtown, bustling farmers' markets, and scenic parks, Madison effortlessly blends urban living with a close-knit community feel.

For those seeking a dream home in this picturesque city, there are fantastic options available under $500,000. Whether you're a first-time homebuyer or looking to downsize, Madison's real estate market offers a variety of charming single-family homes, modern condos, and townhouses that cater to diverse tastes and budgets. From the historic neighborhoods of the Isthmus to the family-friendly suburbs of Fitchburg and Middleton, you’ll find properties that reflect the character of this remarkable city.

Imagine sipping coffee on your porch while enjoying the beautiful views of the lakes, or taking a leisurely stroll through the numerous parks and trails that Madison has to offer. The city is not only rich in recreational opportunities but also boasts a thriving culinary scene, lively arts, and a strong sense of community. With homes under $500,000, you can experience the best of Madison living without breaking the bank. Embrace the charm of this incredible city, and let it be the backdrop for your new beginning!

Newest Madison Homes under $500,000

$214,900

2 Beds ⋅ 1 Baths ⋅ ACTIVE Status

Enjoy easy, low-maintenance living in this first-floor, end-unit condo at New Pointe Condominiums! This 2-bedroom, 1-bath unit offers plenty of natural light, engineered birch hardwood floors throughout the main living areas, and a spacious primary bedroom with a walk-in closet. Step outside to your private patio, surrounded by mature trees offering a peaceful place to relax. A standout feature is the tandem two-car garage, conveniently accessed through the building's lower-level hallway, providing plenty of room for parking and storage. A great opportunity for comfortable condo living!

1010 Gammon Lane Unit 1, Madison

Listing courtesy of RE/MAX Preferred.

$354,900

2 Beds ⋅ 2.5 Baths ⋅ ACTIVE Status

Welcome to this townhouse situated in a desirable location w/neighborhood path to Woodland Hills Park! Main floor boasts 1/2 bath, huge coat closet, spacious living room w/wood-burning fireplace & updated kitchen w/ample storage/workspace & 2 car garage. Patio doors to cozy sitting area w/excellent space for few garden pots. Upstairs you'll find a huge primary bedroom w/balcony, updated full bath & walk in closet! Additional full bath + generous 2nd bedroom w/balcony. Bonus LL Rec room great for office or whatever you desire. Over $25,000 in updates in 2025/26 including: New Furnace, New Roof (shingles), Interior Paint (all ceilings & walls), New microwave, ALL new LVP Flooring on main level +bedrooms, new carpet on stairs, some garage insulation & plumbing. Great location for a walk around Tiedeman Pond, Hop on the Bike Paths, walk to Downtown Middleton & Only a 6 minute bike ride to Willy St Coop & 8 minute ride to gorgeous Owen Conservation Park. Commuters dream & Move in Ready.

69 Ponwood Circle, Madison

Listing courtesy of Lauer Realty Group, Inc..

$240,000

2 Beds ⋅ 1 Baths ⋅ ACTIVE Status

Come see this bright and inviting first floor end unit condo, featuring a private entrance and an abundance of natural light. The spacious layout offers two large bedrooms, along with a comfortable living room, dining area, and convenient in-unit laundry. The updated kitchen features quartz countertops, new cabinetry, and a new dishwasher. An underground parking space and additional storage provide extra convenience. Step through the living room?s patio door to enjoy your private patio perfect for relaxing outdoors or letting your pets out with ease! Ideally situated on Madison?s east side near parks, bike paths, public transportation, shopping, dining, and more. Don't miss out on this low maintenance, move in ready condo!

930 Acewood Boulevard, Madison

Listing courtesy of Realty Executives Cooper Spransy.

$339,900

2 Beds ⋅ 2.5 Baths ⋅ ACTIVE Status

ALL TREATS - NO TRICKS: 100 FREE TACOS & Home Warranty from listing agent AND seller to pay 100% of 2026 tax bill with accepted offer by 10/31. Townhouse Condo that feels like a single family home! Attached 2-car garage, screened-in porch, mostly finished basement, roomy attic that could be finished, 2.5 bath, plenty of green space right outside front door. New paint & carpet throughout. 4 min to Beltline & 12 min to downtown, close to shopping, dining, library and more.

6941 Old Sauk Road, Madison

Listing courtesy of Stark Company, REALTORS.

$456,000

3 Beds ⋅ 2 Baths ⋅ ACTIVE Status

Welcome home to this inviting home! The kitchen features stainless appliances (updated with new refrigerator, range, dishwasher, and microwave), laminate counters, and an island with breakfast bar seating. The finished lower level offers a comfortable and large family room with walkout access to the patio. With 3 bedrooms, 2 bathrooms, and a primary bedroom with a walkthrough ensuite, there?s room to spread out and feel at home. Enjoy outdoor living on the spacious deck or patio, along with the convenience of an attached 2-car garage. Enjoy the beauty of a mature yard filled with fruit trees and a variety of colorful flowers, creating a lovely outdoor retreat. In addition to new washer, dryer, furnace, and garage door opener, a 2025 roof further provides peace of mind for the next homeowner. With its spacious family room, inviting outdoor living areas, mature landscape, and numerous updates, this home offers a wonderful combination of comfort, functionality, and entertaining space.

7880 Wood Reed Drive, Madison

Listing courtesy of MHB Real Estate.

555 S Midvale Boulevard Unit 321, Madison

$500,000

2 Beds ⋅ 1.5 Baths ⋅ ACTIVE Status

Showings begin 10/17. Gorgeous condominium home in West Madison?s Sequoya Commons community, conveniently located near popular dining, parks, and Hilldale Shopping Center. Enjoy the convenience of living in the same complex as Sequoya Madison Public Library, EVP Coffee, Luigi?s Pizza, salons, shops, and more. The fantastic open layout creates an inviting flow for entertaining and everyday living. Unwind at the end of the day on your private balcony, taking in the sights and sounds of the neighborhood. Enjoy a maintenance-free lifestyle with trash removal and snow removal handled by the condo association. Stainless steel appliances and stylish designer finishes throughout, plus pet friendly living, an included storage unit, and two assigned underground heated parking spaces complete this inviting home. A fantastic opportunity to enjoy comfort, convenience, and an unbeatable location.

555 S Midvale Boulevard Unit 321, Madison

Listing courtesy of Real Broker LLC.

$305,000

3 Beds ⋅ 1 Baths ⋅ ACTIVE Status

ROOMY 3 BEDROOM RANCH WITH HUGE FENCED YARD. There?s room for everyone and everything on this surprisingly secluded lot located at the end of a quiet cul-de-sac. Enjoy privacy with no HOA, no busybody neighbors, and no sidewalks. Attached big one-car garage plus a drive-through carport offering easy access to the immense park-like backyard. Prior owner stored a fishing boat out back. Plenty of space for sports, pets, gardening, and entertaining. Patio fits large tables. Kitchen opens to a breakfast room with double patio doors. Spacious living room with electric insert fireplace and bay windows. Double vanity bathroom. Wood or laminate wood flooring throughout. Central AC added in 2015. (wall AC units no longer needed). Same owner for last 30 years. Clean and bright home is ready for new owner and some TLC. Conveniently located just minutes to hospitals, schools, beltline, bus line, and downtown. Walkable to restaurants, grocery, pharmacy, and parks.

975 Dane Street, Madison

Listing courtesy of Restaino & Associates.

$445,000

4 Beds ⋅ 2.5 Baths ⋅ ACTIVE Status

Spacious & bright, this lovely home has so many great features. On the main floor: welcoming entry foyer w/ ceramic tile floor & coat closet, large front living room w/ big picture window & window seat; formal dining room; functional kitchen w/ breakfast bar & updated SS appliances, plus a built-in pot rack; eat-in kitchen area; spacious family room w/ wood fireplace, and a door that walks out to the patio & fenced-in back yard w/ privacy plantings & raised garden beds. Upstairs you'll find 4 ample sized bedrooms w/ great closet space, a larger linen closet, a full bath, and a private bath in primary bedroom. Note: The same beautiful flooring that you see in the kitchen is also under the carpet in the living, dining & family rooms. There is also golden oak hardwood floors in all 4 bedrooms. More room in LL for additional finished SF, if desired, plus plenty of storage space. Furnace, A/C, Humidifier & radon mitigation system fan all new in past few years. Great location near bus lines.

6206 Birch Hill Drive, Madison

Listing courtesy of The Kruse Company, REALTORS.

$289,000

2 Beds ⋅ 2 Baths ⋅ ACTIVE Status

So much opportunity wrapped in brand-new siding and under a brand-new roof. Lived in and loved in for the last 40 years, this 2-bedroom (formerly 3-bedroom), 2-bath home sits on a huge lot, tucked against a quiet one-way alley. You'll love the privacy the home gets from the lot size and unique setting. SO many windows welcome you into the living room. Formal dining, dated but charming kitchen. Hardwood floors peeking through peel-and-stick vinyl; there are so many simple but high-impact opportunities for updating and adding value. Make this your home for the next 40 years.

4120 Major Avenue, Madison

Listing courtesy of Lauer Realty Group, Inc..

$385,000

2 Beds ⋅ 1.5 Baths ⋅ ACTIVE Status

Full of character and surprisingly spacious, this classic near-east-side home pairs original charm with thoughtful updates throughout. Large rooms and abundant windows create bright, comfortable living spaces, highlighted by a beautiful wood-burning fireplace that adds warmth and historic character. The kitchen and upstairs bath have been remodeled, with additional recent improvements including new first-floor flooring, refinished hardwood floors upstairs, fresh paint throughout and a new front door. Upstairs you?ll find two generously sized bedrooms, while additional, easy-to-finish space in the lower level provides extra flexibility. Outside, enjoy a fully fenced backyard, large patio and attached 1-car garage. Conveniently located near neighborhood parks, dining, shopping and the bus line, with easy access to downtown Madison.

506 North Street, Madison

Listing courtesy of Stark Company, REALTORS.

$399,900

3 Beds ⋅ 1.5 Baths ⋅ ACTIVE Status

Welcome to this beautifully renovated tri-level home offering comfortable living and plenty of room to spread out! Fresh paint and updated flooring throughout create a crisp, move-in-ready feel, while the light-filled main level features a spacious living room, dining area and updated kitchen with direct access to an expansive deck overlooking the huge backyard. Upstairs you'll find three bedrooms, including a generous primary, plus a stylishly updated full bath, with central air serving the upper-level bedrooms for added comfort. The lower levels add even more flexibility with a large recreation room, private office, second updated bath and an oversized utility area with abundant storage. With approximately 1,701 sq. ft. of finished living space, an attached garage and a backyard with room to garden, play, entertain or simply relax, this home offers an impressive combination of updates, functionality and space. Conveniently located in Madison, 1925 Elka Ln is ready for its next owner!

1925 Elka Lane, Madison

Listing courtesy of The McGrady Group, LLC.

$300,000

2 Beds ⋅ 2 Baths ⋅ ACTIVE Status

Showings start at the Open House Friday at 5 PM! Enjoy the ease of condo living without sacrificing space or convenience! This 2-bedroom, 2-bath end unit condo features a private entry, attached 2-car garage, and a versatile bonus loft ideal for a home office or second living area. Soaring vaulted ceilings and abundant natural light welcome you into the open-concept living space, complete with a cozy gas fireplace and updated kitchen. Step outside to your private balcony or enjoy the generous storage throughout. Location is everything! Just minutes from Target, local coffee shops, shopping, and dining, with convenient access to Dane County Regional Airport and the East Washington corridor's growing collection of restaurants, entertainment, and nightlife. Low-maintenance living in a location that keeps you connected to everything Madison has to offer!

5451 Congress Avenue, Madison

Listing courtesy of Compass Real Estate Wisconsin.

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