Lake Madison, SD
Population 885 · South Dakota
About Lake Madison, SD
Lake Madison is a small community in South Dakota with a population of 885 residents. The median household income is $116,648 per year, which is above the national average. The median age in Lake Madison is 61.3 years.
Housing in Lake Madison has a median home value of $496,600 and median monthly rent of $595. Of the 886 total housing units, the majority are owner-occupied, with 374 owner-occupied and 49 renter-occupied units.
The unemployment rate in Lake Madison is 3.2% and the poverty rate is 12.9%. 48.5% of residents hold a bachelor's degree or higher. The average commute time is 25.6 minutes.
How Lake Madison Ranks in South Dakota
Cost of Living in Lake Madison, SD
Compared to national averages, Lake Madison has a median household income of $116,648 (55% above the national median of $75,149). Home values average $496,600, which is 103% above the national median. Monthly rent at $595 is 49% below the US average of $1,163. Within South Dakota, Lake Madison's income is 80% above the state average of $64,650, and home values are 245% above the state median of $143,757.
Why Live in Lake Madison, SD?
Lake Madison offers a strong local economy with a median household income of $116,648, well above the national average, and rent that’s lower than the national average at $595/month, and a strong job market with an unemployment rate of just 3.2%. Additionally, the city features a well-educated community where 48.5% of residents hold a bachelor’s degree or higher.
Potential considerations include a competitive housing market where the typical home costs $496,600. However, Lake Madison’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Lake Madison has a population of 885 with a median age of 61.3 years. Compare Lake Madison with other cities to see how it stacks up, or explore all cities in South Dakota.
Similar Cities Near Lake Madison
Cities in South Dakota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Mina | 888 | $102,969 | $448,600 | Compare |
| Meadow View Addition | 880 | $92,470 | $227,700 | Compare |
| Centerville | 876 | $58,438 | $123,600 | Compare |
| Viborg | 874 | $52,794 | $140,000 | Compare |
| Estelline | 862 | $74,231 | $139,000 | Compare |
| Allen | 860 | $0 | $0 | Compare |
| Agency Village | 911 | $47,569 | $204,200 | Compare |
| Edgemont | 845 | $42,440 | $81,100 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in South Dakota
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Lake Madison
What is the population of Lake Madison, SD?
The population of Lake Madison, SD is 885 according to the latest Census data.
What is the median household income in Lake Madison?
The median household income in Lake Madison, SD is $116,648 per year.
What is the median home value in Lake Madison?
The median home value in Lake Madison, SD is $496,600.
What is the average rent in Lake Madison?
The median monthly rent in Lake Madison, SD is $595.
What is the unemployment rate in Lake Madison?
The unemployment rate in Lake Madison, SD is 3.2%.