Living in Madison, South Dakota
Cost of living, income, home prices, rent and demographics of Madison · Census data 2020–2024
Madison has 6,094 residents with a median age of 40.1. The median household income is $65,593 (13% lower than the South Dakota median), the median home value is $193,100, the median rent is $981/month.
Madison at a glance
- Population
- 6,094
- Median age
- 40.1State: 38
- Median household income
- $65,593State: $75,081
- Median home value
- $193,100State: $257,400
- Median rent
- $981/moState: $946
- Homeowners
- 60.2%
- Bachelor's degree or higher
- 34.3%
- Average commute
- 11 min
Is Madison a good place to live?
Pros: Home values 25% lower than the state median; an average commute of 11 minutes; a poverty rate of 9.5%.
Cons: Median household income 13% lower than the South Dakota median; unemployment of 4.4%.
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 $193,100, 42% lower than the U.S. median. Renters pay a median of $981 per month, which is 30.7% of household income. Homeowners with a mortgage pay $1,278 a month in housing costs.
Madison median household income
The median household income in Madison is $65,593 and the income per person is $36,282. 9.5% of residents live below the poverty line (South Dakota: 11.9%).
Housing in Madison: homes for sale and rent
- Housing units
- 2,870
- Owner-occupied
- 60.2%
- Renter-occupied
- 39.8%
- Vacant
- 10.3%Includes seasonal homes
- Median year built
- 1970
- Average household size
- 2.17
Madison demographics
- Population
- 6,094
- Median age
- 40.1
- Under 18
- 19.1%
- 65 and older
- 22.7%
- Households
- 2,573
- Foreign-born
- 2.1%
- Veterans
- 6.5%Adults 18+
Hispanic or Latino can be of any race. Population history of Madison ›
Education in Madison
34.3% of adults 25 and older in Madison have a bachelor's degree or higher (South Dakota: 31.9%), and 9.9% have a graduate or professional degree.
Jobs and commute in Madison
- Unemployment rate
- 4.4%State: 2.9%
- Average commute
- 11 minState: 18 min
- Work from home
- 8.2%
- Drive alone
- 77.4%
- Public transit
- 1.6%
- Walk to work
- 4.9%
- Homes with broadband
- 86%
Madison vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Madison | 6,094 | $65,593 | $193,100 | $981 |
| Lake Madison | 936 | $129,191 | $477,800 | $867 |
| Wentworth | 138 | $62,188 | $83,300 | $808 |
| Ramona | 538 | $78,750 | $85,800 | $675 |
| Brant Lake South | 211 | $107,983 | — | — |
| Chester | 152 | $68,333 | $147,500 | — |
| Colman | 948 | $76,146 | $235,800 | $733 |
| Sinai | 215 | $56,875 | $89,300 | — |
More for people moving to Madison
Madison ZIP code ›Weather and climate ›Living in Madison: FAQ
What is the median household income in Madison, SD?
The median household income in Madison is $65,593, 13% lower than the South Dakota median of $75,081 (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 $193,100, compared with $257,400 in South Dakota.
How much is rent in Madison?
The median gross rent in Madison is $981 per month, about 30.7% of household income.
Is Madison, SD a good place to live?
Pluses: home values 25% lower than the state median; an average commute of 11 minutes; a poverty rate of 9.5%. Minuses: median household income 13% lower than the South Dakota median; unemployment of 4.4%.
What is the median age in Madison?
The median age in Madison is 40.1 years (South Dakota: 38).
How long is the commute in Madison?
The average commute to work in Madison is 11 minutes; 8.2% of workers work from home.
What is the unemployment rate in Madison?
The unemployment rate in Madison is 4.4% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Madison?
34.3% 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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