Rents are right about where Madison's 10-year trend predicts.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $3,423 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
Rent in Madison is 0.9% below its high of $3,454 in December 2025, at $3,423 as of September 2026.
Rent in Madison changed +1.9% over the year to September 2026. Across the 121 New Jersey cities Zillow tracks, the typical change was +3.1%.
Rent rose in 7 of the last 12 months.
30% of the median household income ($171,471) is $4,287 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($4,240).
Summit, 4 miles away, rents for 13% less ($2,977/mo), about $5,400 a year in savings.
From Zillow's monthly rent index (ZORI) for Madison. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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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.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Madison, NJ has changed in 5 years
Across the past five years, the going rent in Madison, NJ has shifted from $2,971 to $3,423, up 15.2% since 2023. On the earnings side, the typical household in Madison, NJ now reports about $171,471, up from $152,346 in 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.
Discussions about Madison
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Can you afford rent in Madison on your salary?
At $3,423/mo, how Madison rent compares to typical pay (30% rule).
Madison rent by bedroom count
Median rent for each apartment size in Madison. Click any size for full breakdown.
Tips for renters in Madison
Last updated: October 17, 2026
The median rent in Madison is $3,423/mo as of October 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 24% of local median household income ($171,471/yr), Madison ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.9% over the past year.
Frequently asked questions
How much income do you need to rent in Madison?
Is rent going up or down in Madison?
How does Madison rent compare to other cities in New Jersey?
Which nearby cities are cheaper to rent in than Madison?
At $3,423/mo, rent takes ~24% of Madison's median household income ($171,471/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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