Madison, NJ
Population 16,464 · New Jersey
About Madison, NJ
Madison is a mid-sized city located in New Jersey with a population of 16,464 residents according to the latest US Census Bureau American Community Survey data. The median household income is $168,469 per year, which is 124% above the national median of $75,149. The median age of 39 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Madison features a median home value of $882,900, which is 261% above the national median of $244,900. This places Madison in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $2,248, 93% above the national average of $1,163/month. Of the 5,721 total housing units, 64% are owner-occupied (3,563 units) and 36% are renter-occupied (1,991 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Madison shows an unemployment rate of 6.8%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 2.8%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Madison have an average one-way commute time of 26.9 minutes.
Education & Demographics
70.7% of Madison residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 1.3% White, 0.4% Hispanic or Latino, 1.1% Black or African American, and 9.6% Asian residents, with 15.4% of the population being foreign-born.
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.
Compare Madison With Other Cities
Frequently Asked Questions about Madison
What is the population of Madison, NJ?
The population of Madison, NJ is 16,464 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in New Jersey.
What is the median household income in Madison?
The median household income in Madison, NJ is $168,469 per year, which is 124% above the national median of $75,149.
What is the median home value in Madison?
The median home value in Madison, NJ is $882,900, which is 261% above 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, NJ is $2,248, which is 93% above the national average of $1,163/month.
What is the unemployment rate in Madison?
The unemployment rate in Madison, NJ is 6.8%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Madison, NJ a good place to live?
Madison offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 16,464 and a median age of 39, the city appeals to a broad range of residents.
How educated is Madison, NJ?
70.7% of residents in Madison aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Madison?
Key cost-of-living indicators for Madison, NJ: median home value is $882,900 (261% above national), median rent is $2,248/month, and median household income is $168,469. The home-value-to-income ratio is 5.2x, a moderate figure by national standards.
What is the poverty rate in Madison?
The poverty rate in Madison, NJ is 2.8%, 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, NJ?
Madison's population is 1.3% White, 0.4% Hispanic or Latino, 1.1% Black or African American, 9.6% Asian, and 1.1% two or more races. 15.4% of residents are foreign-born.