Madison Park, NJ
Population 8,798 · New Jersey
About Madison Park, NJ
Madison Park is a small town located in New Jersey with a population of 8,798 residents according to the latest US Census Bureau American Community Survey data. The median household income is $76,396 per year, which is 2% above the national median of $75,149. The median age of 32.3 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Madison Park features a median home value of $386,200, which is 58% above the national median of $244,900. This places Madison Park in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,558, 34% above the national average of $1,163/month. Of the 2,988 total housing units, 32% are owner-occupied (908 units) and 68% are renter-occupied (1,941 units). The higher proportion of renters may reflect a transient population, younger demographics, or high housing costs relative to income.
Economy & Employment
The local economy in Madison Park shows an unemployment rate of 7.6%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 15.3%, above the national average of 12.4%. Workers in Madison Park have an average one-way commute time of 32 minutes.
Education & Demographics
31.1% of Madison Park residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 4.2% White, 0.5% Hispanic or Latino, 10.2% Black or African American, and 6.2% Asian residents, with 32.8% of the population being foreign-born.
Cost of Living in Madison Park, NJ
Compared to national averages, Madison Park has a median household income of $76,396 (2% above the national median of $75,149). Home values average $386,200, which is 58% above the national median. Monthly rent at $1,558 is 34% above the US average of $1,163. Within New Jersey, Madison Park's income is 34% below the state average of $115,667, and home values are 18% below the state median of $469,644.
Why Live in Madison Park, NJ?
Madison Park offers a strong local economy with a median household income of $76,396, well above the national average.
Potential considerations include a competitive housing market where the typical home costs $386,200. However, Madison Park’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Madison Park has a population of 8,798 with a median age of 32.3 years. Compare Madison Park with other cities to see how it stacks up, or explore all cities in New Jersey.
Similar Cities Near Madison Park
Cities in New Jersey with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Boonton | 8,803 | $100,417 | $475,300 | Compare |
| Pitman | 8,834 | $96,199 | $258,400 | Compare |
| North Haledon | 8,757 | $131,810 | $517,200 | Compare |
| Whippany | 8,862 | $153,725 | $612,500 | Compare |
| Clayton | 8,867 | $89,375 | $244,800 | Compare |
| White Meadow Lake | 8,706 | $150,042 | $441,000 | Compare |
| Audubon | 8,699 | $116,900 | $288,500 | Compare |
| Caldwell | 8,898 | $101,196 | $563,000 | 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 Park With Other Cities
Frequently Asked Questions about Madison Park
What is the population of Madison Park, NJ?
The population of Madison Park, NJ is 8,798 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in New Jersey.
What is the median household income in Madison Park?
The median household income in Madison Park, NJ is $76,396 per year, which is 2% above the national median of $75,149.
What is the median home value in Madison Park?
The median home value in Madison Park, NJ is $386,200, which is 58% above the national median of $244,900. A significant portion of residents rent their homes.
What is the average rent in Madison Park?
The median monthly rent in Madison Park, NJ is $1,558, which is 34% above the national average of $1,163/month.
What is the unemployment rate in Madison Park?
The unemployment rate in Madison Park, NJ is 7.6%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Madison Park, NJ a good place to live?
Madison Park offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 8,798 and a median age of 32.3, the city appeals to young professionals and families.
How educated is Madison Park, NJ?
31.1% of residents in Madison Park 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 Park?
Key cost-of-living indicators for Madison Park, NJ: median home value is $386,200 (58% above national), median rent is $1,558/month, and median household income is $76,396. The home-value-to-income ratio is 5.1x, a moderate figure by national standards.
What is the poverty rate in Madison Park?
The poverty rate in Madison Park, NJ is 15.3%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Madison Park, NJ?
Madison Park's population is 4.2% White, 0.5% Hispanic or Latino, 10.2% Black or African American, 6.2% Asian, and 25.9% two or more races. 32.8% of residents are foreign-born.