Madison, New Jersey Demographics & Population 2026
During the 2020–2024 ACS period, Madison, New Jersey had a total population of 16,447, the 72nd largest borough in New Jersey, with a median household income of $171,471, which is 66% higher than the state average. The poverty rate is 3.2%.
Data vintage: U.S. Census Bureau ACS 2020–2024 5-Year Estimates · refreshed July 2026 · Methodology & source notes
Key Takeaways
- Household income is 66% above the state average — one of the wealthiest communities in New Jersey.
- An exceptionally low poverty rate of 3.2% — among the lowest in New Jersey.
- 74.1% of adults hold a bachelor's degree or higher — top 10% in New Jersey.
Madison Quick Facts
How Madison Changed
Change from the 2019–2023 ACS period to 2020–2024. These are rolling five-year estimates, not year-over-year measurements.
| Metric | 2019–2023 | 2020–2024 | Change |
|---|---|---|---|
| Population | 16,464 | 16,447 | -0.1% |
| Median household income | $168,469 | $171,471 | +1.8% |
| Median home value | $882,900 | $943,200 | +6.8% |
How Madison Compares
Median Household Income
Median Home Value
Economy & Housing
Household Income Distribution
Detailed income brackets
Employment
Housing Overview
People & Demographics
Age Distribution
Race & Ethnicity
Diversity Index
Moderate diversity with one or two groups making up the majority.
State average: 66 | National average: 61
Education
Educational Attainment (Adults 25+)
Madison Rankings in New Jersey
Explore New Jersey Rankings
Other Cities in Morris County
| City | Population | Median Income | Poverty | Home Value |
|---|---|---|---|---|
| Parsippany | 21,345 | $99,405 | 6.7% | $555,400 |
| Morristown | 20,453 | $121,340 | 7.8% | $567,600 |
| Dover | 18,563 | $73,737 | 14.2% | $366,700 |
| Florham Park | 13,564 | $158,696 | 8.7% | $791,400 |
| Lake Hiawatha | 11,018 | $104,663 | 3.4% | $428,600 |
| Pompton Plains | 10,971 | $117,959 | 5.6% | $539,000 |
| Lincoln Park | 10,957 | $123,397 | 2.9% | $443,300 |
| Budd Lake | 10,650 | $114,154 | 4.6% | $456,100 |
| Lake Hopatcong | 10,259 | $117,625 | 4.0% | $424,200 |
| Kinnelon | 10,013 | $187,438 | 2.0% | $706,400 |
Cities Similar to Madison
These cities in the same state have comparable population and economic profiles.
| City | Population | Median Income | Home Value | Bachelor's+ | Poverty |
|---|---|---|---|---|---|
| Springdale | 15,173 | $164,796 | $493,900 | 70.5% | 7.5% |
| Metuchen | 15,144 | $158,052 | $604,300 | 67.1% | 3.6% |
| Ramsey | 14,805 | $160,996 | $697,300 | 67.0% | 4.3% |
| Bradley Gardens | 14,165 | $177,849 | $546,300 | 65.3% | 4.2% |
| Tenafly | 15,319 | $208,200 | $1,002,600 | 78.7% | 3.5% |
Population Overview
Madison is a small city located in New Jersey, within Morris County. The total population is 16,447. It ranks as the 72nd most populous out of 700 Census-designated places in New Jersey.
Age Demographics
The median age in Madison is 38.2 years. This is 5% lower than the state median of 40.1 years.
Economy, Income & Housing
The median household income in Madison is $171,471. This is 66% higher than the state median of $103,556. It is also 112% higher than the national median of $80,734. The poverty rate stands at 3.2%. This is 67% lower than the state poverty rate of 9.7%. This exceptionally low poverty rate indicates strong economic prosperity across the community. The unemployment rate is 6.3%. The median home value is $943,200. Housing costs are 108% higher than the state median of $454,400. The home-value-to-income ratio is 5.5x. 63.8% of occupied housing units are owner-occupied.
Race & Ethnicity
The largest racial or ethnic group in Madison is White (non-Hispanic), making up 73.4% of the population. Hispanic or Latino residents account for 13.3%. The Black or African American population (1.3%) is well below the state average of 12.2%.
Education
74.1% of residents aged 25 and older hold a bachelor's degree or higher. This places Madison in the top 10% of all cities in the state for educational attainment. This is 70% higher than the state rate of 43.6%. Nationally, 35.7% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 97.1%. Notably, 32.4% of adults hold a graduate or professional degree, indicating a highly educated workforce.
Data Sources & Methodology
All demographic data for Madison, New Jersey is sourced from the U.S. Census Bureau's American Community Survey (ACS) 2020–2024 5-Year Estimates. The ACS collects data from approximately 3.5 million households annually and pools five years of responses so that even small communities can be measured, though the margin of error widens as the population falls. Comparisons are made against New Jersey state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 700 Census-designated places in New Jersey. Read more about how these figures are produced on our methodology page, or visit data.census.gov for official data.
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Frequently Asked Questions
What is the population of Madison, New Jersey?
Madison, New Jersey has a population of 16,447 according to the most recent U.S. Census ACS 5-Year Estimates.
What is the median household income in Madison, NJ?
The median household income in Madison is $171,471, which is 112% higher than the national median of $80,734.
What is the poverty rate in Madison, NJ?
The poverty rate in Madison is 3.2%. This means approximately 480 residents live below the federal poverty line.
What is the racial makeup of Madison, New Jersey?
Madison's population is 73.4% White, 1.3% Black, 13.3% Hispanic/Latino, and 6.3% Asian.
What is the median home value in Madison, NJ?
The median home value in Madison is $943,200. The home-value-to-income ratio is 5.5x.
How educated is Madison, New Jersey?
74.1% of adults (25+) in Madison hold a bachelor's degree or higher, and 32.4% hold a graduate or professional degree.