Madison, MN
Population 1,507 · Minnesota
About Madison, MN
Madison is a small town located in Minnesota with a population of 1,507 residents according to the latest US Census Bureau American Community Survey data. The median household income is $56,435 per year, which is 25% below the national median of $75,149. The median age of 54.2 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Madison features a median home value of $104,600, which is 57% 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 $920, 21% below the national average of $1,163/month. Of the 914 total housing units, 71% are owner-occupied (527 units) and 29% are renter-occupied (218 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Madison shows an unemployment rate of 1.1%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 11.9%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Madison have an average one-way commute time of 15.5 minutes, one of the shorter commutes in the region.
Education & Demographics
18.9% 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 0.5% White, 0.5% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.6% of the population being foreign-born.
Cost of Living in Madison, MN
Compared to national averages, Madison has a median household income of $56,435 (25% below the national median of $75,149). Home values average $104,600, which is 57% below the national median. Monthly rent at $920 is 21% below the US average of $1,163. Within Minnesota, Madison's income is 24% below the state average of $74,221, and home values are 49% below the state median of $204,472.
Why Live in Madison, MN?
Madison offers affordable housing with a median home value of $104,600, below the US average of $244,900, and rent that’s lower than the national average at $920/month, and a strong job market with an unemployment rate of just 1.1%. Additionally, the city features a low poverty rate of 11.9%, better than the national average, and short commute times averaging just 15.5 minutes.
Potential considerations include median household income ($56,435) 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 1,507 with a median age of 54.2 years. Compare Madison with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Madison
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Red Lake | 1,506 | $55,092 | $136,000 | Compare |
| Lakeland | 1,510 | $101,339 | $357,700 | Compare |
| Clara City | 1,497 | $58,431 | $116,500 | Compare |
| Avon | 1,493 | $90,987 | $240,400 | Compare |
| Minneota | 1,531 | $72,396 | $158,100 | Compare |
| Canby | 1,563 | $58,839 | $131,800 | Compare |
| Dawson | 1,441 | $70,286 | $118,800 | Compare |
| Pierz | 1,581 | $55,438 | $155,700 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Minnesota
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, MN?
The population of Madison, MN is 1,507 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Minnesota.
What is the median household income in Madison?
The median household income in Madison, MN is $56,435 per year, which is 25% below the national median of $75,149.
What is the median home value in Madison?
The median home value in Madison, MN is $104,600, which is 57% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Madison?
The median monthly rent in Madison, MN is $920, which is 21% below the national average of $1,163/month.
What is the unemployment rate in Madison?
The unemployment rate in Madison, MN is 1.1%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Madison, MN a good place to live?
Madison offers a moderate cost of living, affordable housing, and a strong job market. With a population of 1,507 and a median age of 54.2, the city appeals to established professionals and retirees.
How educated is Madison, MN?
18.9% 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, MN: median home value is $104,600 (57% below national), median rent is $920/month, and median household income is $56,435. The home-value-to-income ratio is 1.9x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Madison?
The poverty rate in Madison, MN is 11.9%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Madison, MN?
Madison's population is 0.5% White, 0.5% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.1% two or more races. 0.6% of residents are foreign-born.