Living in Madrid, New Mexico
Cost of living, income, home prices, rent and demographics of Madrid · Census data 2020–2024
Madrid has 292 residents with a median age of 59.4. The median home value is $488,200.
Madrid is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Madrid at a glance
- Population
- 292
- Median age
- 59.4State: 39.4
- Median home value
- $488,200State: $248,100
- Homeowners
- 33.3%
- Bachelor's degree or higher
- 82.9%
Is Madrid a good place to live?
Cons: Home values 97% higher than the state median; a poverty rate of 44.5%.
The weather is best in April–May and September–October.
Cost of living in Madrid
Housing is the biggest part of the cost of living. In Madrid the median home value is $488,200, 47% higher than the U.S. median. Renters pay a median of — per month. Homeowners with a mortgage pay $1,807 a month in housing costs.
Housing in Madrid: homes for sale and rent
- Housing units
- 290
- Owner-occupied
- 33.3%
- Renter-occupied
- 66.7%
- Vacant
- 21.4%Includes seasonal homes
- Median year built
- 1938
- Average household size
- 1.28
Madrid demographics
- Population
- 292
- Median age
- 59.4
- Under 18
- 0%
- 65 and older
- 25.3%
- Households
- 228
- Foreign-born
- 4.5%
- Veterans
- 0%Adults 18+
Hispanic or Latino can be of any race. Population history of Madrid ›
Education in Madrid
82.9% of adults 25 and older in Madrid have a bachelor's degree or higher (New Mexico: 31%), and 16.8% have a graduate or professional degree.
Jobs and commute in Madrid
- Unemployment rate
- 0%State: 6%
- Average commute
- —State: 24 min
- Work from home
- 17%
- Drive alone
- 31.1%
- Public transit
- 0%
- Walk to work
- 51.9%
- Homes with broadband
- 37.3%
Madrid vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Madrid | 292 | — | $488,200 | — |
| Los Cerrillos | 241 | $95,417 | $610,900 | — |
| Galisteo | 231 | $32,955 | $1,344,300 | — |
| San Pedro | 172 | $140,568 | $365,000 | — |
| La Cienega | 3,543 | $85,250 | $517,100 | $1,139 |
| Valle Vista | 729 | $36,635 | $322,600 | $923 |
| Santo Domingo Pueblo | 2,370 | $57,375 | $156,400 | — |
| Eldorado at Santa Fe | 5,619 | $106,633 | $591,900 | $2,526 |
| Peña Blanca | 568 | $71,250 | $222,100 | $99 |
More for people moving to Madrid
Madrid ZIP code ›Weather and climate ›Living in Madrid: FAQ
What is the average home price in Madrid?
The median home value in Madrid is $488,200, compared with $248,100 in New Mexico.
Is Madrid, NM a good place to live?
Minuses: home values 97% higher than the state median; a poverty rate of 44.5%.
What is the median age in Madrid?
The median age in Madrid is 59.4 years (New Mexico: 39.4).
What is the unemployment rate in Madrid?
The unemployment rate in Madrid is 0% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Madrid?
82.9% 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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