Madison, IL
Population 2,788 · Illinois
About Madison, IL
Madison is a small community in Illinois with a population of 2,788 residents. The median household income is $44,181 per year, which is below the national average. The median age in Madison is 46.7 years.
Housing in Madison has a median home value of $51,200 and median monthly rent of $1,010. Of the 1,498 total housing units, renting is more common than owning, with 556 owner-occupied and 683 renter-occupied units.
The unemployment rate in Madison is 21.4% and the poverty rate is 30.8%. 7.2% of residents hold a bachelor's degree or higher. The average commute time is 20.7 minutes.
How Madison Ranks in Illinois
Cost of Living in Madison, IL
Compared to national averages, Madison has a median household income of $44,181 (41% below the national median of $75,149). Home values average $51,200, which is 79% below the national median. Monthly rent at $1,010 is 13% below the US average of $1,163. Within Illinois, Madison's income is 41% below the state average of $75,072, and home values are 69% below the state median of $165,779.
Why Live in Madison, IL?
Madison offers affordable housing with a median home value of $51,200, below the US average of $244,900, and rent that’s lower than the national average at $1,010/month, and short commute times averaging just 20.7 minutes.
Potential considerations include median household income ($44,181) 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 2,788 with a median age of 46.7 years. Compare Madison with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Madison
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Lena | 2,778 | $76,076 | $154,000 | Compare |
| Bushnell | 2,763 | $55,368 | $69,100 | Compare |
| Heyworth | 2,818 | $90,556 | $196,200 | Compare |
| McLeansboro | 2,750 | $46,589 | $72,200 | Compare |
| Hamilton | 2,738 | $53,487 | $105,600 | Compare |
| Savanna | 2,851 | $46,094 | $75,000 | Compare |
| Newton | 2,852 | $58,564 | $98,900 | Compare |
| Oakbrook Terrace | 2,714 | $70,586 | $315,600 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Illinois
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Madison
What is the population of Madison, IL?
The population of Madison, IL is 2,788 according to the latest Census data.
What is the median household income in Madison?
The median household income in Madison, IL is $44,181 per year.
What is the median home value in Madison?
The median home value in Madison, IL is $51,200.
What is the average rent in Madison?
The median monthly rent in Madison, IL is $1,010.
What is the unemployment rate in Madison?
The unemployment rate in Madison, IL is 21.4%.