Madrid, NM
Population 248 · New Mexico
About Madrid, NM
Madrid is a small community located in New Mexico with a population of 248 residents according to the latest US Census Bureau American Community Survey data. The median household income is $0 per year, which is 100% below the national median of $75,149. The median age of 59.6 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 Madrid features a median home value of $380,000, which is 55% above the national median of $244,900. This places Madrid in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 275 total housing units, 24% are owner-occupied (48 units) and 76% are renter-occupied (154 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 Madrid shows an unemployment rate of 0.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 52.4%, above the national average of 12.4%. Workers in Madrid have an average one-way commute time of 0 minutes, one of the shorter commutes in the region.
Education & Demographics
91.9% of Madrid 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 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 3.2% of the population being foreign-born.
How Madrid Ranks in New Mexico
Cost of Living in Madrid, NM
Compared to national averages, Madrid has a median household income of $0 (100% below the national median of $75,149). Home values average $380,000, which is 55% above the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within New Mexico, Madrid's income is 100% below the state average of $67,435, and home values are 63% above the state median of $233,762.
Why Live in Madrid, NM?
Madrid offers rent that’s lower than the national average at $0/month, and a strong job market with an unemployment rate of just 0.0%, and a well-educated community where 91.9% of residents hold a bachelor’s degree or higher. Additionally, the city features short commute times averaging just 0 minutes.
Potential considerations include median household income ($0) that falls below the national average, and a competitive housing market where the typical home costs $380,000. However, Madrid’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Madrid has a population of 248 with a median age of 59.6 years. Compare Madrid with other cities to see how it stacks up, or explore all cities in New Mexico.
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Demographics
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Economy & Education
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Other Cities in New Mexico
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Madrid
What is the population of Madrid, NM?
The population of Madrid, NM is 248 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in New Mexico.
What is the median household income in Madrid?
The median household income in Madrid, NM is $0 per year, which is 100% below the national median of $75,149.
What is the median home value in Madrid?
The median home value in Madrid, NM is $380,000, which is 55% above the national median of $244,900. A significant portion of residents rent their homes.
What is the average rent in Madrid?
The median monthly rent in Madrid, NM is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Madrid?
The unemployment rate in Madrid, NM is 0.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Madrid, NM a good place to live?
Madrid offers a moderate cost of living, a competitive housing market, and a strong job market. With a population of 248 and a median age of 59.6, the city appeals to established professionals and retirees.
How educated is Madrid, NM?
91.9% of residents in Madrid 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 Madrid?
Key cost-of-living indicators for Madrid, NM: median home value is $380,000 (55% above national), median rent is $0/month, and median household income is $0. The home-value-to-income ratio is Infinityx, which suggests housing may be stretched relative to local earnings.
What is the poverty rate in Madrid?
The poverty rate in Madrid, NM is 52.4%, 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 Madrid, NM?
Madrid's population is 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 3.2% of residents are foreign-born.