Photo by Richard Hurd
Metro Metrics September 2026
Metro Metrics September 2026
Metro Metrics is a monthly data snapshot that explores key economic indicators reflecting the health of the Madison metro economy.
Quarterly Economic Indicators Update
This month’s edition of Metro Metrics examines key economic indicators in the Madison Metro to assess the second quarter of 2026.
Industries (Table 1)
The number of jobs in the Madison Metro decreased by about 1% since this time last year, with the largest contractions being in the Government and Leisure and Hospitality sectors. The metro continues to see steady growth in Information, one of the region’s key industry drivers, and Education and Health Services, which follows a nationwide trend of increasing employment in that sector.
Labor Force (Table 2)
Unemployment in the region increased slightly since last year, following a statewide trend. The region’s labor force, number of employed people, and number of unemployed people have all steadily grown by 1,000-2,000 people.
Housing Permits (Table 3)
Permitting activity in the Madison Metro is down approximately 9% lower than this time last year. The number of units permitted so far in 2026 is approximately the same number that were permitted in 2024, which is still higher than the number that were permitted in 2022 and 2023 by this time in the year.
As we covered in January’s Metro Metrics, rent growth in the metro has slowed from the highs of 2021-22 as building activity and vacancy rates increased to healthier levels, so this year’s moderate decrease in permitting may reflect that. According to Costar, as of Q2 2026, year-over-year rent growth in multifamily (5+ unit) buildings in the Metro is only 1.1%, while vacancy rate has increased to 7.9%, the highest it’s been in the past decade.
MSN Airport Update (Table 4)
Dane County Regional Airport is still on pace for a record-breaking year, with 9% more passengers than this time last year. This success will likely only be bolstered by the addition of new, nonstop daily service to Boston from MSN.
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