Living in Madison Lake, Minnesota
Cost of living, income, home prices, rent and demographics of Madison Lake · Census data 2020–2024
Madison Lake has 1,322 residents with a median age of 40. The median household income is $87,727 (about the same as the Minnesota median), the median home value is $303,100, the median rent is $596/month.
Madison Lake is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Madison Lake at a glance
- Population
- 1,322
- Median age
- 40State: 38.8
- Median household income
- $87,727State: $89,062
- Median home value
- $303,100State: $329,300
- Median rent
- $596/moState: $1,280
- Homeowners
- 68.9%
- Bachelor's degree or higher
- 40.2%
- Average commute
- 23 min
Is Madison Lake a good place to live?
Pros: Home values 8% lower than the state median; a poverty rate of 6.8%.
Cons: Median household income about the same as the Minnesota median; an average commute of 23 minutes; unemployment of 4.4%.
The weather is best in June to September.
Cost of living in Madison Lake
Housing is the biggest part of the cost of living. In Madison Lake the median home value is $303,100, 9% lower than the U.S. median. Renters pay a median of $596 per month, which is 30.7% of household income. Homeowners with a mortgage pay $1,970 a month in housing costs.
Madison Lake median household income
The median household income in Madison Lake is $87,727 and the income per person is $48,690. 6.8% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Madison Lake: homes for sale and rent
- Housing units
- 721
- Owner-occupied
- 68.9%
- Renter-occupied
- 31.1%
- Vacant
- 20.7%Includes seasonal homes
- Median year built
- 1987
- Average household size
- 2.31
Madison Lake demographics
- Population
- 1,322
- Median age
- 40
- Under 18
- 24.4%
- 65 and older
- 21.3%
- Households
- 572
- Foreign-born
- 0.2%
- Veterans
- 5.8%Adults 18+
Hispanic or Latino can be of any race. Population history of Madison Lake ›
Education in Madison Lake
40.2% of adults 25 and older in Madison Lake have a bachelor's degree or higher (Minnesota: 39.4%), and 18.1% have a graduate or professional degree.
Jobs and commute in Madison Lake
- Unemployment rate
- 4.4%State: 4.1%
- Average commute
- 23 minState: 23 min
- Work from home
- 13%
- Drive alone
- 78.2%
- Public transit
- 0%
- Walk to work
- 3.9%
- Homes with broadband
- 90.6%
Madison Lake vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Madison Lake | 1,322 | $87,727 | $303,100 | $596 |
| Eagle Lake | 3,281 | $96,964 | $276,500 | $1,403 |
| Elysian | 676 | $89,632 | $285,400 | $1,088 |
| Cleveland | 563 | $85,750 | $212,800 | $817 |
| Janesville | 2,378 | $74,643 | $206,800 | $873 |
| Mankato | 45,473 | $66,873 | $261,700 | $1,132 |
| St. Clair | 710 | $106,136 | $218,000 | $750 |
| Kasota | 554 | $66,625 | $190,800 | $692 |
| St. Peter | 12,185 | $65,122 | $250,700 | $961 |
More for people moving to Madison Lake
Madison Lake ZIP code ›Weather and climate ›Living in Madison Lake: FAQ
What is the median household income in Madison Lake, MN?
The median household income in Madison Lake is $87,727, about the same as the Minnesota median of $89,062 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Madison Lake?
The median home value in Madison Lake is $303,100, compared with $329,300 in Minnesota.
How much is rent in Madison Lake?
The median gross rent in Madison Lake is $596 per month, about 30.7% of household income.
Is Madison Lake, MN a good place to live?
Pluses: home values 8% lower than the state median; a poverty rate of 6.8%. Minuses: median household income about the same as the Minnesota median; an average commute of 23 minutes; unemployment of 4.4%.
What is the median age in Madison Lake?
The median age in Madison Lake is 40 years (Minnesota: 38.8).
How long is the commute in Madison Lake?
The average commute to work in Madison Lake is 23 minutes; 13% of workers work from home.
What is the unemployment rate in Madison Lake?
The unemployment rate in Madison Lake is 4.4% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Madison Lake?
40.2% of adults in Madison Lake 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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