Madrid, IA
Population 2,803 · Iowa
About Madrid, IA
Madrid is a small community in Iowa with a population of 2,803 residents. The median household income is $86,915 per year, which is above the national average. The median age in Madrid is 40.1 years.
Housing in Madrid has a median home value of $185,100 and median monthly rent of $1,034. Of the 1,217 total housing units, the majority are owner-occupied, with 932 owner-occupied and 204 renter-occupied units.
The unemployment rate in Madrid is 0.8% and the poverty rate is 7.4%. 22.6% of residents hold a bachelor's degree or higher. The average commute time is 25.9 minutes.
Cost of Living in Madrid, IA
Compared to national averages, Madrid has a median household income of $86,915 (16% above the national median of $75,149). Home values average $185,100, which is 24% below the national median. Monthly rent at $1,034 is 11% below the US average of $1,163. Within Iowa, Madrid's income is 28% above the state average of $67,947, and home values are 40% above the state median of $132,237.
Why Live in Madrid, IA?
Madrid offers a strong local economy with a median household income of $86,915, well above the national average, and affordable housing with a median home value of $185,100, below the US average of $244,900, and rent that’s lower than the national average at $1,034/month. Additionally, the city features a strong job market with an unemployment rate of just 0.8%, and a low poverty rate of 7.4%, better than the national average.
Madrid has a population of 2,803 with a median age of 40.1 years. Compare Madrid with other cities to see how it stacks up, or explore all cities in Iowa.
Similar Cities Near Madrid
Cities in Iowa with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Grundy Center | 2,794 | $77,540 | $173,200 | Compare |
| Postville | 2,787 | $47,281 | $100,300 | Compare |
| Sibley | 2,821 | $54,767 | $119,800 | Compare |
| Marengo | 2,823 | $58,125 | $114,100 | Compare |
| Clarion | 2,775 | $58,702 | $107,600 | Compare |
| Park View | 2,861 | $106,429 | $276,500 | Compare |
| Onawa | 2,862 | $54,659 | $125,700 | Compare |
| Fairfax | 2,865 | $120,552 | $278,800 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Iowa
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Madrid
What is the population of Madrid, IA?
The population of Madrid, IA is 2,803 according to the latest Census data.
What is the median household income in Madrid?
The median household income in Madrid, IA is $86,915 per year.
What is the median home value in Madrid?
The median home value in Madrid, IA is $185,100.
What is the average rent in Madrid?
The median monthly rent in Madrid, IA is $1,034.
What is the unemployment rate in Madrid?
The unemployment rate in Madrid, IA is 0.8%.