Madrid, NY
Population 753 · New York
About Madrid, NY
Madrid is a small community located in New York with a population of 753 residents according to the latest US Census Bureau American Community Survey data. The median household income is $88,500 per year, which is 18% above the national median of $75,149. The median age of 36.4 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Madrid features a median home value of $136,700, which is 44% below the national median of $244,900. This makes Madrid one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $850, 27% below the national average of $1,163/month. Of the 270 total housing units, 73% are owner-occupied (180 units) and 27% are renter-occupied (68 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Madrid shows an unemployment rate of 4.6%, which is near the national rate of 3.7%. The poverty rate stands at 13.5%, above the national average of 12.4%. Workers in Madrid have an average one-way commute time of 20.6 minutes.
Education & Demographics
26.2% of Madrid 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 2.0% White, 4.0% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 5.3% of the population being foreign-born.
Cost of Living in Madrid, NY
Compared to national averages, Madrid has a median household income of $88,500 (18% above the national median of $75,149). Home values average $136,700, which is 44% below the national median. Monthly rent at $850 is 27% below the US average of $1,163. Within New York, Madrid's income is 9% below the state average of $96,987, and home values are 65% below the state median of $387,181.
Why Live in Madrid, NY?
Madrid offers a strong local economy with a median household income of $88,500, well above the national average, and affordable housing with a median home value of $136,700, below the US average of $244,900, and rent that’s lower than the national average at $850/month. Additionally, the city features short commute times averaging just 20.6 minutes.
Madrid has a population of 753 with a median age of 36.4 years. Compare Madrid with other cities to see how it stacks up, or explore all cities in New York.
Similar Cities Near Madrid
Cities in New York with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Durhamville | 750 | $128,125 | $182,700 | Compare |
| Parishville | 750 | $77,847 | $95,400 | Compare |
| Earlville | 758 | $64,500 | $117,000 | Compare |
| Antwerp | 745 | $58,333 | $124,300 | Compare |
| Lacona | 761 | $72,917 | $126,600 | Compare |
| Strykersville | 744 | $86,250 | $186,700 | Compare |
| Lyndonville | 742 | $57,262 | $120,400 | Compare |
| East Avon | 741 | $91,071 | $221,200 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New York
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Madrid With Other Cities
Frequently Asked Questions about Madrid
What is the population of Madrid, NY?
The population of Madrid, NY is 753 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in New York.
What is the median household income in Madrid?
The median household income in Madrid, NY is $88,500 per year, which is 18% above the national median of $75,149.
What is the median home value in Madrid?
The median home value in Madrid, NY is $136,700, which is 44% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Madrid?
The median monthly rent in Madrid, NY is $850, which is 27% below the national average of $1,163/month.
What is the unemployment rate in Madrid?
The unemployment rate in Madrid, NY is 4.6%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Madrid, NY a good place to live?
Madrid offers above-average incomes, affordable housing, and growing employment opportunities. With a population of 753 and a median age of 36.4, the city appeals to a broad range of residents.
How educated is Madrid, NY?
26.2% of residents in Madrid 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 Madrid?
Key cost-of-living indicators for Madrid, NY: median home value is $136,700 (44% below national), median rent is $850/month, and median household income is $88,500. The home-value-to-income ratio is 1.5x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Madrid?
The poverty rate in Madrid, NY is 13.5%, 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, NY?
Madrid's population is 2.0% White, 4.0% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.4% two or more races. 5.3% of residents are foreign-born.