Madison Lake, MN
Population 1,178 · Minnesota
About Madison Lake, MN
Madison Lake is a small community in Minnesota with a population of 1,178 residents. The median household income is $84,833 per year, which is above the national average. The median age in Madison Lake is 39.2 years.
Housing in Madison Lake has a median home value of $281,300 and median monthly rent of $829. Of the 669 total housing units, the majority are owner-occupied, with 332 owner-occupied and 150 renter-occupied units.
The unemployment rate in Madison Lake is 3.9% and the poverty rate is 6.7%. 36.9% of residents hold a bachelor's degree or higher. The average commute time is 22.2 minutes.
Cost of Living in Madison Lake, MN
Compared to national averages, Madison Lake has a median household income of $84,833 (13% above the national median of $75,149). Home values average $281,300, which is 15% above the national median. Monthly rent at $829 is 29% below the US average of $1,163. Within Minnesota, Madison Lake's income is 14% above the state average of $74,221, and home values are 38% above the state median of $204,472.
Why Live in Madison Lake, MN?
Madison Lake offers a strong local economy with a median household income of $84,833, well above the national average, and rent that’s lower than the national average at $829/month, and a well-educated community where 36.9% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 6.7%, better than the national average, and short commute times averaging just 22.2 minutes.
Madison Lake has a population of 1,178 with a median age of 39.2 years. Compare Madison Lake with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Madison Lake
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Redby | 1,175 | $53,846 | $109,500 | Compare |
| East Gull Lake | 1,173 | $128,548 | $522,000 | Compare |
| Wanamingo | 1,185 | $85,000 | $247,400 | Compare |
| Medford | 1,194 | $98,375 | $234,300 | Compare |
| Elbow Lake | 1,158 | $56,786 | $118,900 | Compare |
| New London | 1,156 | $66,830 | $209,300 | Compare |
| Martin Lake | 1,203 | $120,705 | $426,100 | Compare |
| Shafer | 1,151 | $96,042 | $225,700 | 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.
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Frequently Asked Questions about Madison Lake
What is the population of Madison Lake, MN?
The population of Madison Lake, MN is 1,178 according to the latest Census data.
What is the median household income in Madison Lake?
The median household income in Madison Lake, MN is $84,833 per year.
What is the median home value in Madison Lake?
The median home value in Madison Lake, MN is $281,300.
What is the average rent in Madison Lake?
The median monthly rent in Madison Lake, MN is $829.
What is the unemployment rate in Madison Lake?
The unemployment rate in Madison Lake, MN is 3.9%.