Madison is a medium-sized borough located in the state of New Jersey. With a population of 16,261 people and four constituent neighborhoods, Madison is the 115th largest community in New Jersey.
Madison home prices are not only among the most expensive in New Jersey, but Madison real estate also consistently ranks among the most expensive in America.
Also of interest is that Madison has more people living here who work in computers and math than 95% of the places in the US.
Of important note, Madison is also a borough of artists. Madison has more artists, designers and people working in media than 90% of the communities in America. This concentration of artists helps shape Madison’s character.
One interesting thing about the economy is that relatively large numbers of people worked from their home: 17.79% of the workforce. While this number may seem small overall, as a fraction of the total workforce this is high compared to the rest of the county. These workers are often telecommuters who work in knowledge-based, white-collar professions. For example, Silicon Valley has large numbers of people who telecommute. Other at-home workers may be self-employed people who operate small businesses out of their homes.
Madison, while not large, also appears to be attractive to some younger, educated professionals, who help shape the character of the borough.
Because of many things, Madison is a great place for families with children to consider. First of all, many other families with children live here, making Madison a place where both parents and children are more likely to develop social ties with other families, as well as find family-oriented services and community. The borough’s good public school district and large population of college-educated adults provide an environment conducive to academic values. With regard to real estate, Madison has a high rate of owner-occupied single family homes, which tends to reflect stability in the local community. Finally, Madison’s overall crime rate is lower than average for the country.
In Madison, a lot of people use the train to get to work every day though Madison is a relatively small borough. Those that ride the train are primarily traveling out of town to good jobs in other cities.
Do you have a 4-year college degree or graduate degree? If so, you may feel right at home in Madison. 69.79% of adults here have a 4-year degree or graduate degree, whereas the national average for all cities and towns is just 21.84%.
The per capita income in Madison in 2018 was $79,022, which is wealthy relative to New Jersey and the nation. This equates to an annual income of $316,088 for a family of four.
Madison is a very ethnically-diverse borough. The people who call Madison home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Madison residents report their race to be White, followed by Asian. Madison also has a sizeable Hispanic population (people of Hispanic origin can be of any race). People of Hispanic or Latino origin account for 12.97% of the borough’s residents. Important ancestries of people in Madison include Italian, Irish, German, English, and Polish.
In addition, Madison has a lot of people living here who were born outside of the US (15.53%).
The most common language spoken in Madison is English. Other important languages spoken here include Spanish and Chinese.