Madison, NJ
Population 16,464 · New Jersey
About Madison, NJ
Madison is a mid-sized city in New Jersey with a population of 16,464 residents. The median household income is $168,469 per year, which is above the national average. The median age in Madison is 39 years.
Housing in Madison has a median home value of $882,900 and median monthly rent of $2,248. Of the 5,721 total housing units, the majority are owner-occupied, with 3,563 owner-occupied and 1,991 renter-occupied units.
The unemployment rate in Madison is 6.8% and the poverty rate is 2.8%. 70.7% of residents hold a bachelor's degree or higher. The average commute time is 26.9 minutes.
Cost of Living in Madison, NJ
Compared to national averages, Madison has a median household income of $168,469 (124% above the national median of $75,149). Home values average $882,900, which is 261% above the national median. Monthly rent at $2,248 is 93% above the US average of $1,163. Within New Jersey, Madison's income is 46% above the state average of $115,667, and home values are 88% above the state median of $469,644.
Why Live in Madison, NJ?
Madison offers a strong local economy with a median household income of $168,469, well above the national average, and a well-educated community where 70.7% of residents hold a bachelor’s degree or higher, and a low poverty rate of 2.8%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $882,900. However, Madison’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Madison has a population of 16,464 with a median age of 39 years. Compare Madison with other cities to see how it stacks up, or explore all cities in New Jersey.
Similar Cities Near Madison
Cities in New Jersey with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| North Arlington | 16,368 | $101,493 | $464,700 | Compare |
| New Milford | 16,882 | $113,513 | $554,800 | Compare |
| South River | 16,007 | $101,853 | $382,500 | Compare |
| Avenel | 17,143 | $95,935 | $351,200 | Compare |
| Springdale | 15,672 | $179,531 | $454,200 | Compare |
| Princeton Meadows | 15,382 | $124,065 | $636,300 | Compare |
| Tenafly | 15,252 | $208,088 | $974,300 | Compare |
| Phillipsburg | 15,251 | $67,782 | $180,700 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New Jersey
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, NJ?
The population of Madison, NJ is 16,464 according to the latest Census data.
What is the median household income in Madison?
The median household income in Madison, NJ is $168,469 per year.
What is the median home value in Madison?
The median home value in Madison, NJ is $882,900.
What is the average rent in Madison?
The median monthly rent in Madison, NJ is $2,248.
What is the unemployment rate in Madison?
The unemployment rate in Madison, NJ is 6.8%.