Madison, FL
Population 2,960 · Florida
About Madison, FL
Madison is a small town located in Florida with a population of 2,960 residents according to the latest US Census Bureau American Community Survey data. The median household income is $31,025 per year, which is 59% below the national median of $75,149. The median age of 31.4 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Madison features a median home value of $84,400, which is 66% below the national median of $244,900. This makes Madison one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $849, 27% below the national average of $1,163/month. Of the 1,344 total housing units, 44% are owner-occupied (522 units) and 56% are renter-occupied (674 units). The higher proportion of renters may reflect a transient population, younger demographics, or high housing costs relative to income.
Economy & Employment
The local economy in Madison shows an unemployment rate of 3.2%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 33.3%, above the national average of 12.4%. Workers in Madison have an average one-way commute time of 32.5 minutes.
Education & Demographics
14.0% of Madison residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 0.4% White, 0.0% Hispanic or Latino, 0.8% Black or African American, and 1.4% Asian residents, with 1.8% of the population being foreign-born.
How Madison Ranks in Florida
Cost of Living in Madison, FL
Compared to national averages, Madison has a median household income of $31,025 (59% below the national median of $75,149). Home values average $84,400, which is 66% below the national median. Monthly rent at $849 is 27% below the US average of $1,163. Within Florida, Madison's income is 59% below the state average of $75,893, and home values are 76% below the state median of $353,675.
Why Live in Madison, FL?
Madison offers affordable housing with a median home value of $84,400, below the US average of $244,900, and rent that’s lower than the national average at $849/month, and a strong job market with an unemployment rate of just 3.2%.
Potential considerations include median household income ($31,025) that falls below the national average. However, Madison’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Madison has a population of 2,960 with a median age of 31.4 years. Compare Madison with other cities to see how it stacks up, or explore all cities in Florida.
Similar Cities Near Madison
Cities in Florida with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Chattahoochee | 2,965 | $54,375 | $82,900 | Compare |
| Sharpes | 2,948 | $67,917 | $259,400 | Compare |
| Eglin AFB | 2,975 | $76,705 | $0 | Compare |
| Quail Ridge | 2,983 | $86,279 | $252,600 | Compare |
| Verona Walk | 2,931 | $54,039 | $540,600 | Compare |
| Hilliard | 2,993 | $59,949 | $216,100 | Compare |
| Cedar Grove | 2,911 | $44,202 | $147,400 | Compare |
| Malabar | 3,017 | $123,345 | $441,700 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Florida
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Madison With Other Cities
Frequently Asked Questions about Madison
What is the population of Madison, FL?
The population of Madison, FL is 2,960 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Florida.
What is the median household income in Madison?
The median household income in Madison, FL is $31,025 per year, which is 59% below the national median of $75,149.
What is the median home value in Madison?
The median home value in Madison, FL is $84,400, which is 66% below the national median of $244,900. A significant portion of residents rent their homes.
What is the average rent in Madison?
The median monthly rent in Madison, FL is $849, which is 27% below the national average of $1,163/month.
What is the unemployment rate in Madison?
The unemployment rate in Madison, FL is 3.2%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Madison, FL a good place to live?
Madison offers a moderate cost of living, affordable housing, and a strong job market. With a population of 2,960 and a median age of 31.4, the city appeals to young professionals and families.
How educated is Madison, FL?
14.0% of residents in Madison aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Madison?
Key cost-of-living indicators for Madison, FL: median home value is $84,400 (66% below national), median rent is $849/month, and median household income is $31,025. The home-value-to-income ratio is 2.7x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Madison?
The poverty rate in Madison, FL is 33.3%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Madison, FL?
Madison's population is 0.4% White, 0.0% Hispanic or Latino, 0.8% Black or African American, 1.4% Asian, and 46.4% two or more races. 1.8% of residents are foreign-born.