Madison, NJ


Highest Appreciating Madison Neighborhoods Since 2000

Madison, NJ Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Madison Housing Market Information

With a population of 16,126, 5,499 total housing units (homes and apartments), and a median house value of $669,359, Madison house prices are not only among the most expensive in New Jersey, Madison real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Madison, accounting for 61.99% of the borough's housing units. Other types of housing that are prevalent in Madison include duplexes, homes converted to apartments or other small apartment buildings ( 16.49%), large apartment complexes or high rise apartments ( 14.76%), and a few row houses and other attached homes ( 6.54%).

The most prevalent building size and type in Madison are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 63.70% owning and 36.30% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Madison's housing was primarily built during this period, from the '40s through the '60s. A full 47.21% of the borough's housing hails from this era. Other housing ages represented in Madison include homes built before 1939 ( 28.86%) and housing constructed between 1970-1999 ( 18.63%). There's also some housing in Madison built between 2000 and later ( 5.30%).

Madison Home Appreciation Rates

Appreciation rates for homes in Madison have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 8.20%, which ranks in the top 40% nationwide. This equates to an annual average Madison house appreciation rate of 0.79%.

NeighborhoodScout's data show that during the latest twelve months, Madison's appreciation rate, at 3.25%, has been at or slightly above the national average. In the latest quarter, Madison's appreciation rate has been 0.66%, which annualizes to a rate of 2.68%.

Relative to New Jersey, our data show that Madison's latest annual appreciation rate is higher than 50% of the other cities and towns in New Jersey.

Average Home Values


Median Home Value:


Value Range
> $1,109,000 15.6
$832,001 - $1,109,000 18.0
$554,001 - $832,000 41.4
$444,001 - $554,000 14.0
$333,001 - $444,000 5.4
$222,001 - $333,000 1.0
$111,001 - $222,000 1.3
$55,001 - $111,000 0.5
$0 - $55,000 2.9

Very High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
2.94152115317005 11.3821138211382

Number Of Homes And Apartments:

Madison Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
81.28% 3.51% 9 9
* 10 is highest

Rent & Ownership


Average Market Rent:
$2,160 / per month

Homeownership Rate

Owners 63.70
Renters 36.30
Vacant 5.04

Housing Market Details


Age of Homes

2000 or Newer 5.3
1970 - 1999 18.6
1940 - 1969 47.2
1939 or Older 28.9

Types of Homes

Single-Family 62.0
Townhomes 6.5
Small Apt. Buildings 16.5
Apt. Complexes 14.8
Mobile Homes 0.2
Other 0.0

Home Size

No Bedroom 2.30
1 Bedroom 13.21
2 Bedrooms 17.53
3 Bedrooms 30.79
4 Bedrooms 25.21
5 or more bedrooms 10.97