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Advertise here →Madison borough, NJ · Market Data
Madison borough, New Jersey real estate market data.
Real estate market data for Madison borough, NJ (Morris County) — Census median home value $882,900, county listing prices up about 2.5% over the past year.
Madison borough, NJ is in Morris County, New Jersey — covering the whole local market here: resale homes, condos, land, and new construction. The most recent Census estimate puts the population at 16,464, with a median household income of $168,469. Census data puts Madison borough's median home value at $882,900 (all owner-occupied homes); Morris County's current median listing price runs $742,000, up about 2.5% over the past year.
At a glance
Madison borough market snapshot
Population
16,464
Median Household Income
$168,469
Median Home Value (city)
$882,900
Median Listing Price (Morris County)
$742,000
Median Gross Rent
$2,248/mo
Price Trend (YoY)
+2.5%
Market data compiled from public sources; deemed reliable but not guaranteed; verify independently. Full source list ↗
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Advertise here →Why Madison borough
What makes Madison borough different
Home Value, By Source
The Census Bureau's American Community Survey (2023 5-year estimate) puts Madison borough's median home value — across all owner-occupied homes, not just recent sales — at $882,900. Separately, Morris County's current median listing price (via Realtor.com data, 2026-06-01) runs $742,000. These cover different geography (city vs. county) and different measures (assessed value vs. active listings), which is why we show both rather than picking one — full source list on our data sources page.
County Price Trend
Morris County's FHFA house price index shows a 5.88% annual change in 2025.
Population & Income
Madison borough has an estimated population of 16,464 and a median household income of $168,469, per the Census Bureau's American Community Survey (2023 5-year estimate).
Affordability Snapshot
Madison borough's Census-reported median home value works out to about 5.2x the area's median household income, and median gross rent runs roughly 16% of that same income on an annualized basis. Housing economists commonly flag a price-to-income ratio above 4x as historically elevated -- useful context, not a personal affordability verdict.
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Common questions
Madison borough FAQ
What are home values like in Madison borough, NJ?
The Census Bureau's American Community Survey puts Madison borough's median home value at $882,900. Morris County's current median listing price runs $742,000, up about 2.5% over the past year.
What is the population of Madison borough, NJ?
The U.S. Census Bureau's American Community Survey (2023 5-year estimate) puts Madison borough's population at approximately 16,464.
What's the median rent in Madison borough, NJ?
The Census ACS estimates median gross rent in Madison borough at approximately $2,248 per month.
What is the median household income in Madison borough, NJ?
Census ACS data puts the median household income in Madison borough at approximately $168,469.
Is the Madison borough housing market growing?
Morris County's FHFA house price index shows a 5.88% annual change in 2025.
Is Madison borough, NJ affordable relative to income?
Census ACS data puts Madison borough's median home value at about 5.2 times the median household income, with median gross rent equal to roughly 16% of that income annually. This is a general benchmark, not a personal pre-qualification -- your own income, debt, and down payment determine what you can actually afford.
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