Madison, VA
Population 328 · Virginia
About Madison, VA
Madison is a small community located in Virginia with a population of 328 residents according to the latest US Census Bureau American Community Survey data. The median household income is $47,059 per year, which is 37% below the national median of $75,149. The median age of 40.3 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 $312,500, which is 28% above the national median of $244,900. This positions Madison in a moderately priced market relative to the rest of the country. Median monthly rent is $986, 15% below the national average of $1,163/month. Of the 183 total housing units, 38% are owner-occupied (58 units) and 62% are renter-occupied (94 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 shows an unemployment rate of 6.5%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 24.1%, above the national average of 12.4%. Workers in Madison have an average one-way commute time of 31.2 minutes.
Education & Demographics
12.7% of Madison residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 0.0% White, 9.1% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.3% of the population being foreign-born.
Cost of Living in Madison, VA
Compared to national averages, Madison has a median household income of $47,059 (37% below the national median of $75,149). Home values average $312,500, which is 28% above the national median. Monthly rent at $986 is 15% below the US average of $1,163. Within Virginia, Madison's income is 46% below the state average of $87,957, and home values are 5% below the state median of $327,514.
Why Live in Madison, VA?
Madison offers rent that’s lower than the national average at $986/month.
Potential considerations include median household income ($47,059) that falls below the national average. However, Madison’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Madison has a population of 328 with a median age of 40.3 years. Compare Madison with other cities to see how it stacks up, or explore all cities in Virginia.
Similar Cities Near Madison
Cities in Virginia with a similar population size.
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Virginia
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Madison
What is the population of Madison, VA?
The population of Madison, VA is 328 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Virginia.
What is the median household income in Madison?
The median household income in Madison, VA is $47,059 per year, which is 37% below the national median of $75,149.
What is the median home value in Madison?
The median home value in Madison, VA is $312,500, which is 28% above the national median of $244,900. A significant portion of residents rent their homes.
What is the average rent in Madison?
The median monthly rent in Madison, VA is $986, which is 15% below the national average of $1,163/month.
What is the unemployment rate in Madison?
The unemployment rate in Madison, VA is 6.5%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Madison, VA a good place to live?
Madison offers a moderate cost of living, a competitive housing market, and growing employment opportunities. With a population of 328 and a median age of 40.3, the city appeals to a broad range of residents.
How educated is Madison, VA?
12.7% of residents in Madison 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?
Key cost-of-living indicators for Madison, VA: median home value is $312,500 (28% above national), median rent is $986/month, and median household income is $47,059. The home-value-to-income ratio is 6.6x, which suggests housing may be stretched relative to local earnings.
What is the poverty rate in Madison?
The poverty rate in Madison, VA is 24.1%, 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, VA?
Madison's population is 0.0% White, 9.1% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 14.6% two or more races. 0.3% of residents are foreign-born.