Living in Madison, Minnesota
Cost of living, income, home prices, rent and demographics of Madison · Census data 2020–2024
Madison has 1,550 residents with a median age of 51.3. The median household income is $61,172 (31% lower than the Minnesota median), the median home value is $97,000, the median rent is $838/month.
Madison at a glance
- Population
- 1,550
- Median age
- 51.3State: 38.8
- Median household income
- $61,172State: $89,062
- Median home value
- $97,000State: $329,300
- Median rent
- $838/moState: $1,280
- Homeowners
- 73.1%
- Bachelor's degree or higher
- 20.8%
- Average commute
- 15 min
Is Madison a good place to live?
Pros: Home values 71% lower than the state median; an average commute of 15 minutes; unemployment of 2.6%.
Cons: Median household income 31% lower than the Minnesota median; a poverty rate of 9.9%.
The weather is best in June to September.
Cost of living in Madison
Housing is the biggest part of the cost of living. In Madison the median home value is $97,000, 71% lower than the U.S. median. Renters pay a median of $838 per month, which is 30.5% of household income. Homeowners with a mortgage pay $971 a month in housing costs.
Madison median household income
The median household income in Madison is $61,172 and the income per person is $40,909. 9.9% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Madison: homes for sale and rent
- Housing units
- 915
- Owner-occupied
- 73.1%
- Renter-occupied
- 26.9%
- Vacant
- 19.5%Includes seasonal homes
- Median year built
- 1955
- Average household size
- 2.01
Madison demographics
- Population
- 1,550
- Median age
- 51.3
- Under 18
- 19.7%
- 65 and older
- 35.7%
- Households
- 737
- Foreign-born
- 0.6%
- Veterans
- 10.5%Adults 18+
Hispanic or Latino can be of any race. Population history of Madison ›
Education in Madison
20.8% of adults 25 and older in Madison have a bachelor's degree or higher (Minnesota: 39.4%), and 4.3% have a graduate or professional degree.
Jobs and commute in Madison
- Unemployment rate
- 2.6%State: 4.1%
- Average commute
- 15 minState: 23 min
- Work from home
- 9.1%
- Drive alone
- 73%
- Public transit
- 0.5%
- Walk to work
- 6.6%
- Homes with broadband
- 81.1%
Madison vs nearby towns
More for people moving to Madison
Madison ZIP code ›Weather and climate ›Living in Madison: FAQ
What is the median household income in Madison, MN?
The median household income in Madison is $61,172, 31% lower than 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?
The median home value in Madison is $97,000, compared with $329,300 in Minnesota.
How much is rent in Madison?
The median gross rent in Madison is $838 per month, about 30.5% of household income.
Is Madison, MN a good place to live?
Pluses: home values 71% lower than the state median; an average commute of 15 minutes; unemployment of 2.6%. Minuses: median household income 31% lower than the Minnesota median; a poverty rate of 9.9%.
What is the median age in Madison?
The median age in Madison is 51.3 years (Minnesota: 38.8).
How long is the commute in Madison?
The average commute to work in Madison is 15 minutes; 9.1% of workers work from home.
What is the unemployment rate in Madison?
The unemployment rate in Madison is 2.6% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Madison?
20.8% 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.
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