RentDataNowRentDataNow
City Report · NJ

Madison

Pop. 16,447·20th most expensive in New Jersey·Madison rents are up 20.2% over the past year
Median rent (all units)
$3,354/mo
Year-over-Year
+20.2%
Month-over-Month
-1.1%
vs US Median
+$1,389
Falling (Monthly)
Be the first to discuss Madison rents ↓
Most AffordableMost Expensive
Madison · $3,354
More expensive than 94% of US cities · National median $1,965/mo
Affordability
23% of income
VERY AFFORDABLE
0%30% benchmark60%+

At $3,354/mo, rent takes about 23% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$134,000/yr
Local median income
$171,471/yr
Based on the 30%-of-income rule using Madison's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$2,150
1 BR
$2,450
2 BR
$2,960
3 BR
$3,730
4 BR+
$4,240
Research median
$2,960/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

Loading…

Last updated: July 20, 2026

Annual cost
$40,248/yr
At $3,354/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 20.2% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+20.2% YoY, -1.1% MoM), not inventory.
Rent check

Is your rent fair?

Compare your rent to the local median.

Demographics

Who lives here

Madison, NJ is majority owner-occupied, has a median income above the national average, 74.1% of residents hold a bachelor's degree or higher.

Population
16,447
Median income
$171,471
Median age
38.2
Renters
36.2%
Age distribution
23.2%
23.3%
26.2%
14%
13.3%
Under 1823.2%
18–3423.3%
35–5426.2%
55–6414%
65+13.3%
Gender
48%
52%
Male48%
Female52%
Race & ethnicity
75.1%
13.3%
White75.1%
Black1.5%
Hispanic13.3%
Asian6.3%
Other3.8%
Education (25+)
13.5%
74.1%
No HS diploma2.9%
HS diploma13.5%
Some college9.5%
Bachelor's+74.1%
Housing tenure
63.8%
36.2%
Owner63.8%
Renter36.2%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2023 vs 2026

How Madison, NJ has changed in 5 years

Rent
$2,757 → $3,354
up 21.7%
Income
$152,346 → $171,471
up 12.6%
Population
16,819 → 16,447
down 2.2%
Renter share
35.9% → 36.2%
+0.3 pts
Bachelor's+
69.8% → 74.1%
+4.3 pts
Median age
39.8 → 38.2
-1.6 yrs

Across the past five years, the going rent in Madison, NJ has shifted from $2,757 to $3,354, up 21.7% since 2023. On the earnings side, the typical household in Madison, NJ now reports about $171,471, up from $152,346 in 2021. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show Madison, NJ losing about 372 residents over the five-year window, down 2.2% on net. Bachelor's-degree-or-higher attainment moved from 69.8% to 74.1% across the same window. For context, the 2023 to 2026 window covers an unusually volatile run for US rents nationally, and Madison, NJ reflects that arc in its own way.

Community

Discussions about Madison

No discussions yet. Start the conversation.

View Madison rent history (2015–2026) →
Salary vs rent

Can you afford rent in Madison on your salary?

At $3,354/mo, how Madison rent compares to typical pay (30% rule).

By apartment size

Madison rent by bedroom count

Median rent for each apartment size in Madison. Click any size for full breakdown.

Local insights

Tips for renters in Madison

About renting in Madison, NJ

Last updated: July 20, 2026

The median rent in Madison is $3,354/mo as of July 2026. A studio apartment averages $2,150/mo while a 2-bedroom runs $2,960/mo. One-bedroom apartments average $2,450/mo and 3-bedroom units go for $3,730/mo.

At 23% of local median household income ($171,471/yr), Madison ranks as affordable compared to the national benchmark of 30%. Rents have increased 20.2% over the past year.

FAQ

Frequently asked questions

Is Madison an affordable city for renters?

Madison is considered very affordable for renters. At $3,354/mo, rent takes approximately 23% of the local median household income ($171,471/yr). The standard benchmark is 30%. Madison falls comfortably within that range.

How much income do you need to rent in Madison?

To keep rent at or below 30% of gross income, you would need to earn at least $134,000/year (~$64/hour full-time) to afford the median rent of $3,354/mo in Madison. The local median household income is $171,471/yr, meaning the typical Madison household meets that threshold.

Is rent going up or down in Madison?

Rent in Madison has increased 20.2% over the past year as of July 2026, putting upward pressure on renter budgets.

How does Madison rent compare to other cities in New Jersey?

Madison is one of the pricier cities in New Jersey for rent, ranking #20 out of 180 tracked cities at $3,354/mo.

Which nearby cities are cheaper to rent in than Madison?

Several nearby cities have lower median rents than Madison ($3,354/mo): Summit ($3,006/mo), Chatham ($3,272/mo).

What percentage of Madison residents rent vs. own?

According to Census data, approximately 36.2% of Madison households are renters, while 63.8% are owner-occupied. Madison leans toward homeownership, which can mean a smaller rental inventory.

How does Madison rent compare to the national average?

Madison's median rent of $3,354/mo is $1,389 (71%) above the US national median of $1,965/mo. Within New Jersey, it ranks #20 out of 180 tracked cities.
Income Affordability
23%
VERY AFFORDABLE

At $3,354/mo, rent takes ~23% of Madison's median household income ($171,471/yr). The standard benchmark is 30%.

Madison 23%Benchmark 30%
State income tax1.4–10.75%
Run the Madison affordability calculator →
Lowest-rent ZIP codes in Madison
Compare

How does this area stack up?

Pick another city or ZIP to compare.

Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Madison, NJ

Recent submissions

Be the first to submit your rent for Madison.

Recent discussions

No discussions yet.