🏡 Homeownership in this economy?

🏡 High Cost-Homes Pushing Would-Be Homeowners out of Madison

The average single-family home in the city is being assessed at more than $500,000, and with fewer homes coming on the market, the dream of homeownership may be dwindling for many Madisonians.

An assessment business systems manager for the City of Madison told WPR that the value of housing is climbing because there simply isn’t enough of it. Some worry those high property values and lack of new construction are pushing young buyers into the suburbs for their first home purchase. [WPR]

Some context: Madison’s 2025 Housing Snapshot Report showed homeownership costs are rising faster than incomes. Paired with high interest rates, it is increasingly difficult to become a first-time home buyer.

Additionally, severe racial disparities persist when it comes to home ownership in Madison. The 2025 report found only one in five Black households own homes, while half of White households own homes.

• Dig deeper: City Cast Madison host Bianca Martin dug deep into the report and the state of housing in Madison with Justice Castañeda, executive director of Common Wealth Development in a recent podcast. [City of Madison, 🎧 City Cast Madison]

Building costs: The price of construction in the Madison area also continues to skyrocket, which has led to an increase in home prices.

The big picture: On today’s City Cast Madison podcast, Bianca talks with executive producer Hayley Sperling and producer Jade Iseri-Ramos about Madison’s rising home assessments and in a Neighbors-only segment dig into the human costs of construction.

Plus the team talks about the (now dead) state surplus spending deal and a nuclear research facility that could potentially be coming to town. [🎧 City Cast Madison]

💰 ‘Blockbuster’ State Budget Surplus Deal Dies in Senate: The state legislature rejected Gov. Tony Evers’ $1.8 billion deal, ending months of negotiations between the governor and Republican leadership.The deal would have given money back to Wisconsin schools and taxpayers, including $850 million in direct payments to Wisconsin residents and $600 million for K-12 education. [WisPolitics]

🌎 The Great (E)migration? Archivists at the University of Wisconsin-Green Bay have received an increasing number of requests from Wisconsinites looking to prove their Canadian ancestry. Wisconsin was once part of a vast territory where French fur traders and missionaries roamed, and in the 19th century was a destination for French-Canadians looking for jobs and farmland.

• Many Americans are seeking to get dual citizenship after Canada relaxed its citizenship requirements in December. [🔒 Wisconsin State Journal, Canada gov.]

📚 Madison School District Might Build New East Side Elementary: The school district has drafted a new attendance map, which floats the idea of building a new school to more evenly spread enrollment across existing schools and alleviate overcrowding. District administrators plan to share two more drafts for community feedback before recommending a plan to the school board, which is expected to vote on new maps next February.

• Meanwhile, Madison Metropolitan School District announced several principal and assistant principal appointments for the upcoming school year. [Cap Times, In Business Madison]

🎓 UW-Madison Chancellor Jennifer Mnookin’s Last Day: After nearly four years at the helm, Jennifer Mnookin is leaving her role as chancellor of University of Wisconsin-Madison to become president of Columbia University. In a reporter roundtable, Mnookin touted the university’s accomplishments under her leadership, including rising to rank fifth in the U.S. for university research expenditures, and expanding programs to offer financial support to in-state students. [WPR]

🥹 Friday Floof: Meet Miss Zoey Bardot! She’s a sophisticated ferret who enjoys life’s finer pleasures. She savors her brother’s breakfast (her brother is a tabby cat) and loves to dash and stash her favorite squeaky toys each morning. She loves taking walks in her buggy and greeting the paparazzi in the Atwood-Willy Street area. She’s friendly, loves attention from people and non-humans alike, and is a registered emotional support animal who brings joy to whoever she meets.