Living in Madrid, Iowa
Cost of living, income, home prices, rent and demographics of Madrid · Census data 2020–2024
Madrid has 2,808 residents with a median age of 40.3. The median household income is $89,844 (20% higher than the Iowa median), the median home value is $185,600, the median rent is $1,029/month.
Madrid at a glance
- Population
- 2,808
- Median age
- 40.3State: 38.6
- Median household income
- $89,844State: $75,059
- Median home value
- $185,600State: $208,000
- Median rent
- $1,029/moState: $972
- Homeowners
- 84%
- Bachelor's degree or higher
- 22.8%
- Average commute
- 27 min
Is Madrid a good place to live?
Pros: Median household income 20% higher than the Iowa median; home values 11% lower than the state median; unemployment of 1.7%; a poverty rate of 6.3%.
Cons: An average commute of 27 minutes.
The weather is best in June to September.
Cost of living in Madrid
Housing is the biggest part of the cost of living. In Madrid the median home value is $185,600, 44% lower than the U.S. median. Renters pay a median of $1,029 per month, which is 20.3% of household income. Homeowners with a mortgage pay $1,592 a month in housing costs.
Madrid median household income
The median household income in Madrid is $89,844 and the income per person is $37,574. 6.3% of residents live below the poverty line (Iowa: 11.1%).
Housing in Madrid: homes for sale and rent
- Housing units
- 1,204
- Owner-occupied
- 84%
- Renter-occupied
- 16%
- Vacant
- 7.3%Includes seasonal homes
- Median year built
- 1955
- Average household size
- 2.44
Madrid demographics
- Population
- 2,808
- Median age
- 40.3
- Under 18
- 20.1%
- 65 and older
- 20.2%
- Households
- 1,116
- Foreign-born
- 0%
- Veterans
- 6.3%Adults 18+
Hispanic or Latino can be of any race. Population history of Madrid ›
Education in Madrid
22.8% of adults 25 and older in Madrid have a bachelor's degree or higher (Iowa: 31.4%), and 4.7% have a graduate or professional degree.
Jobs and commute in Madrid
- Unemployment rate
- 1.7%State: 3.6%
- Average commute
- 27 minState: 20 min
- Work from home
- 17.3%
- Drive alone
- 73.8%
- Public transit
- 0.1%
- Walk to work
- 0.5%
- Homes with broadband
- 93.1%
Madrid vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Madrid | 2,808 | $89,844 | $185,600 | $1,029 |
| Woodward | 977 | $65,658 | $179,900 | — |
| Luther | 159 | $100,938 | $191,700 | — |
| Sheldahl | 361 | $80,938 | $184,700 | — |
| Slater | 1,401 | $97,500 | $232,800 | $895 |
| Granger | 1,979 | $112,404 | $329,400 | $843 |
| Polk City | 6,037 | $164,389 | $414,800 | $782 |
| Kelley | 382 | $111,250 | $220,800 | $966 |
| Bouton | 168 | $76,875 | $113,900 | $1,089 |
More for people moving to Madrid
Madrid ZIP code ›Weather and climate ›Living in Madrid: FAQ
What is the median household income in Madrid, IA?
The median household income in Madrid is $89,844, 20% higher than the Iowa median of $75,059 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Madrid?
The median home value in Madrid is $185,600, compared with $208,000 in Iowa.
How much is rent in Madrid?
The median gross rent in Madrid is $1,029 per month, about 20.3% of household income.
Is Madrid, IA a good place to live?
Pluses: median household income 20% higher than the Iowa median; home values 11% lower than the state median; unemployment of 1.7%; a poverty rate of 6.3%. Minuses: an average commute of 27 minutes.
What is the median age in Madrid?
The median age in Madrid is 40.3 years (Iowa: 38.6).
How long is the commute in Madrid?
The average commute to work in Madrid is 27 minutes; 17.3% of workers work from home.
What is the unemployment rate in Madrid?
The unemployment rate in Madrid is 1.7% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Madrid?
22.8% of adults in Madrid 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.
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