Living in Madison, Indiana
Cost of living, income, home prices, rent and demographics of Madison · Census data 2020–2024
Madison has 12,223 residents with a median age of 44.4. The median household income is $61,183 (15% lower than the Indiana median), the median home value is $203,100, the median rent is $820/month.
Madison at a glance
- Population
- 12,223
- Median age
- 44.4State: 38.1
- Median household income
- $61,183State: $71,957
- Median home value
- $203,100State: $218,200
- Median rent
- $820/moState: $1,062
- Homeowners
- 62.1%
- Bachelor's degree or higher
- 23.8%
- Average commute
- 19 min
Is Madison a good place to live?
Pros: Home values 7% lower than the state median; an average commute of 19 minutes.
Cons: Median household income 15% lower than the Indiana median; unemployment of 5.2%; a poverty rate of 14.9%.
The weather is best in May and August to October.
Cost of living in Madison
Housing is the biggest part of the cost of living. In Madison the median home value is $203,100, 39% lower than the U.S. median. Renters pay a median of $820 per month, which is 27.2% of household income. Homeowners with a mortgage pay $1,201 a month in housing costs.
Madison median household income
The median household income in Madison is $61,183 and the income per person is $33,509. 14.9% of residents live below the poverty line (Indiana: 12.3%).
Housing in Madison: homes for sale and rent
- Housing units
- 5,710
- Owner-occupied
- 62.1%
- Renter-occupied
- 37.9%
- Vacant
- 13.8%Includes seasonal homes
- Median year built
- 1963
- Average household size
- 2.29
Madison demographics
- Population
- 12,223
- Median age
- 44.4
- Under 18
- 18%
- 65 and older
- 20%
- Households
- 4,924
- Foreign-born
- 1.4%
- Veterans
- 4.1%Adults 18+
Hispanic or Latino can be of any race. Population history of Madison ›
Education in Madison
23.8% of adults 25 and older in Madison have a bachelor's degree or higher (Indiana: 29.5%), and 11.5% have a graduate or professional degree.
Jobs and commute in Madison
- Unemployment rate
- 5.2%State: 4.3%
- Average commute
- 19 minState: 24 min
- Work from home
- 7.3%
- Drive alone
- 82.6%
- Public transit
- 0%
- Walk to work
- 1.6%
- Homes with broadband
- 90.9%
Madison vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Madison | 12,223 | $61,183 | $203,100 | $820 |
| Milton | 637 | $62,500 | $156,700 | $763 |
| Hanover | 3,554 | $53,929 | $138,700 | $900 |
| Brooksburg | 111 | $39,167 | $179,200 | — |
| Dupont | 279 | $64,338 | $116,700 | $1,000 |
| Lamb | 272 | $103,426 | — | — |
| Bedford | 386 | $41,875 | $95,800 | $884 |
| Carrollton | 3,915 | $45,871 | $113,200 | $918 |
| Commiskey | 139 | $90,188 | $164,800 | — |
More for people moving to Madison
Madison ZIP code ›Weather and climate ›Living in Madison: FAQ
What is the median household income in Madison, IN?
The median household income in Madison is $61,183, 15% lower than the Indiana median of $71,957 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Madison?
The median home value in Madison is $203,100, compared with $218,200 in Indiana.
How much is rent in Madison?
The median gross rent in Madison is $820 per month, about 27.2% of household income.
Is Madison, IN a good place to live?
Pluses: home values 7% lower than the state median; an average commute of 19 minutes. Minuses: median household income 15% lower than the Indiana median; unemployment of 5.2%; a poverty rate of 14.9%.
What is the median age in Madison?
The median age in Madison is 44.4 years (Indiana: 38.1).
How long is the commute in Madison?
The average commute to work in Madison is 19 minutes; 7.3% of workers work from home.
What is the unemployment rate in Madison?
The unemployment rate in Madison is 5.2% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Madison?
23.8% of adults in Madison have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
Last updated: