Also See Madison, NJ: ZIP Codes & Maps
The Borough of Madison had a population of 17,045 as of July 1, 2023.
The primary coordinate point for Madison is located at latitude 40.7598 and longitude -74.4171 in Morris County. The formal boundaries for the Borough of Madison encompass a land area of 4.3 sq. miles and a water area of 0.01 sq. miles. Morris County is in the Eastern time zone (GMT -5).
The Borough of Madison has a C5 Census Class Code which indicates an active incorporated place that is independent of any county subdivision and serves as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.
POPULATION | |
---|---|
Total Population | 17,045 (100%) |
Population in Households | 15,457 (90.7%) |
Population in Families | 12,775 (74.9%) |
Population in Group Quarters1 | 1,588 ( 9.3%) |
Population Density | 3,953 |
Diversity Index2 | 55 |
INCOME | |
Median Household Income | $166,811 |
Average Household Income | $240,708 |
% of Income for Mortgage4 | 28% |
Per Capita Income | $81,815 |
Wealth Index5 | 254 |
Socioeconomic Status Index6 | Moderate (63.2) |
HOUSING | |
---|---|
Total HU (Housing Units) | 6,066 (100%) |
Owner Occupied HU | 3,862 (63.7%) |
Renter Occupied HU | 1,919 (31.6%) |
Vacant Housing Units | 285 ( 4.7%) |
Median Home Value | $783,523 |
Average Home Value | $894,180 |
Housing Affordability Index3 | 81 |
HOUSEHOLDS | |
Total Households | 5,781 |
Average Household Size | 2.67 |
Family Households | 3,794 |
Average Family Size | 3.00 |
GROWTH RATE / YEAR |
2020-2023 | 2023-2028 |
---|---|---|
Population | 0.20% | -0.13% |
Households | 0.41% | 0.12% |
Families | 0.15% | |
Median Household Income | 1.54% | |
Per Capita Income | 2.11% | |
Owner Occupied HU | 0.58% |
The table below compares Madison to the other 700 incorporated cities, towns and CDPs in New Jersey by rank and percentile using July 1, 2023 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.
Variable Description | Rank | Percentile |
---|---|---|
Total Population | # 70 | 90th |
Population Density | # 182 | 74th |
Median Household Income | # 71 | 90th |
Housing Affordability Index | # 314 | 45th |
Per Capita Income | # 88 | 88th |
Diversity Index | # 322 | 54th |
Additional comparisons and rankings can be made with a VERY EASY TO USE New Jersey Census Data Comparison Tool.
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