What is the population of Madison borough?

Madison borough has 16,464 residents on Census ACS 2019-2023 ACS 5-year estimates, ranking #71 of 700 in New Jersey.

What is the median household income in Madison borough?

Median household income in Madison borough is $168,469 a year, 114.5% above the national figure of $78,538.

How much does it cost to rent or buy in Madison borough?

Median gross rent is $2,248 a month and the median home value is $882,900, so rent absorbs about 16% of median household income.

Is Madison borough affordable compared with the rest of the US?

Homes cost about 5.2× the local median income here versus roughly 3.9× nationally, so Madison borough is less affordable to buy in than the typical US market, and rent takes 16% of median income against the 30% cost-burden line.

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New Jersey · Census place 42510

Madison, NJ population, income and ZIP codes

Quick answer

The population of the city of Madison, New Jersey (Madison, NJ — Census place “Madison borough”) is 16,464 residents, ranking #71 of 700 places in New Jersey. Median household income is $168,469, the median home is worth $882,900 and median gross rent runs $2,248 a month. Looking for the Madison New Jersey ZIP code list? 1 ZIP codes serve Madison, NJ: 07940.

Population: 16,464Madison borough residents
Median household income: $168,469Past 12 months, inflation adjusted
Median home value: $882,900Owner-occupied units
Median gross rent: $2,248Rent plus utilities, monthly
Median age: 39 yrsAll residents
Homeownership rate: 64.2%Owner-occupied households

Madison ZIP codes (New Jersey)

Census ZCTAs whose delivery area overlaps Madison.

The Madison NJ ZIP code list below covers 1 ZIP code. Open any one for its population, income, housing and rent profile.

07940

What the numbers mean in Madison borough

Housing cost measured against local earnings.

A household earning the Madison borough median would spend about 16% of gross income on the median rent. The 30% mark is the federal threshold for cost burden, so anything above it signals a stretched rental market. The median home costs 5.2× the median household income; nationally that ratio sits near 4.5×. Poverty affects 2.8% of residents and 64.2% of households own their home.

Source: US Census Bureau, ACS 2019-2023 5-year estimates · rates as published for 2019-2023 ACS 5-year

Madison borough, NJ in context

How this area compares with national benchmarks.

Madison borough is a mid-size town in New Jersey, with 16,464 residents counted in the Census American Community Survey 2019-2023 ACS 5-year estimates, which places it #71 of 700 ranked by population — larger than 89% of them. The median age here is 39 years against 39.1 nationally, a slightly younger profile than the country as a whole. Places under 65,000 residents only appear in the five-year release, never the one-year file, so these values pool sixty months of responses and lag the current year by design.

Households in Madison borough earn a median of $168,469 a year, 114.5% above the national figure of $78,538 and 58% above the $106,926 median for the 543 New Jersey cities we cover. Household income here is measured before tax and pooled across everyone at the address, which is why it reads higher than typical individual earnings in the same area. Poverty reaches 2.8% of residents here, less than half the 12.4% national rate.

The typical owner-occupied home in Madison borough is valued at $882,900, 191% above the national figure and 114% above the $412,500 peer median, while median gross rent runs $2,248 a month, 59.9% above the national figure, or roughly $26,976 across a full year. A household on the local median income would put about 16% of gross pay toward that rent against the federal 30% cost-burden threshold, so renting here is cheap relative to what people here earn. The home-price-to-income ratio works out to 5.2×, against roughly 3.9× nationally, so buying is harder here than in the average US market. 64.2% of occupied homes are owner-occupied versus 65% nationally, so the market leans more heavily on renters. Rent is reported gross — contract rent plus tenant-paid utilities — which is why it runs above the advertised price on a listing for the same unit.

No figure on this page is estimated by us; each one comes straight from the published ACS tables for this area. Small-area estimates still carry wider margins of error than state or national figures, so check the linked ACS tables before relying on them for lending, appraisal or legal work.

Compare with nearby places

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Frequently asked questions

Common questions about this area.

What is the population of Madison borough?: Madison borough has 16,464 residents on Census ACS 2019-2023 ACS 5-year estimates, ranking #71 of 700 in New Jersey.
What is the median household income in Madison borough?: Median household income in Madison borough is $168,469 a year, 114.5% above the national figure of $78,538.
How much does it cost to rent or buy in Madison borough?: Median gross rent is $2,248 a month and the median home value is $882,900, so rent absorbs about 16% of median household income.
Is Madison borough affordable compared with the rest of the US?: Homes cost about 5.2× the local median income here versus roughly 3.9× nationally, so Madison borough is less affordable to buy in than the typical US market, and rent takes 16% of median income against the 30% cost-burden line.
How current is this Madison borough data?: All figures come from the US Census Bureau American Community Survey 2019-2023 ACS 5-year five-year estimates. Places under 65,000 residents only appear in the five-year release, never the one-year file, so these values pool sixty months of responses and lag the current year by design.