What is the median household income in Madison, MN?
The median household income in Madison, MN is $61,172 (±$6,359) a year (2020–2024 American Community Survey).
Paying the median gross rent of $838 a month would take about $33,500 a year at the common guideline of spending no more than 30% of income on rent.
In Madison, the median household income went from $43,750 in 2015–2019 to $61,172 in 2020–2024 (+39.8%).
Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.
Figures last updated on .
- Median household income
- $61,172 (±$6,359)
- Median renter income
- $31,667 (±$13,716)
- Income to afford median rent
- about $33,500
Income in Madison against Lac qui Parle County, its state and the nation
| Madison | Lac qui Parle County | Minnesota | United States | |
|---|---|---|---|---|
| Median household income | $61,172 (±$6,359) | $74,432 (±$4,157) | $89,062 (±$409) | $80,734 |
| Median renter household income | $31,667 (±$13,716) | $35,089 (±$6,497) | $51,080 (±$531) | $52,966 |
| Median owner household income | $70,750 (±$14,432) | $82,526 (±$5,038) | $108,214 (±$476) | $100,009 |
| Median gross rent | $838 (±$141) | $728 (±$96) | $1,280 (±$7) | $1,413 |
In Madison, median household income is lower than in Lac qui Parle County ($74,432).
It is also lower than in Minnesota ($89,062).
It is lower than the national figure ($80,734).
In Lac qui Parle County, Madison ranks 23 of 27 places with a published estimate, from highest to lowest median household income.
Statewide, it ranks 2154 of 2,568.
Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.
How much you need to earn to rent in Madison
Many landlords and housing programs use 30% of gross income as the most a household should spend on rent.
At that guideline, the median gross rent of $838 a month ($10,056 a year) needs an income of about $33,500 a year.
The median renting household in Madison earns $31,667 a year, less than that.
This is arithmetic on the published medians, not a rule any landlord must follow; screening criteria vary and some places limit how income may be weighed.
Income against housing costs since 2015–2019
| 2015–2019 | 2020–2024 | Amount of change | Verdict | |
|---|---|---|---|---|
| Median household income | $43,750 (±$6,506) | $61,172 (±$6,359) | +39.8% | No measurable change after inflation |
| Median gross rent | $522 (±$42) | $838 (±$141) | +60.5% | Up after inflation |
| Median home value | $67,600 (±$7,534) | $97,000 (±$20,385) | +43.5% | No measurable change after inflation |
The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.
Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.
The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.
Median household income in places near Madison
| Place | Distance | Median household income | Compared with this place |
|---|---|---|---|
| Madison | — | $61,172 (±$6,359) | — |
| Madison Township | 2.2 mi | $91,250 (±$17,763) | Higher |
| Arena Township | 5.1 mi | $70,625 (±$13,690) | Not measurably different |
| Hamlin Township | 5.6 mi | $68,125 (±$39,973) | Not measurably different |
| Cerro Gordo Township | 6.7 mi | $67,778 (±$10,558) | Not measurably different |
| Garfield Township (Lac qui Parle County) | 8.2 mi | $86,667 (±$54,229) | Not measurably different |
| Lake Shore Township | 8.4 mi | $61,250 (±$42,074) | Not measurably different |
| Riverside Township | 8.8 mi | $138,542 (±$14,956) | Higher |
| Dawson | 8.9 mi | $68,929 (±$10,378) | Not measurably different |
Nearby places with a measurably higher figure: Madison Township, MN ($91,250), Riverside Township, MN ($138,542).
Distance is measured in a straight line between the Census Bureau’s internal points for each place.
Median household income across Lac qui Parle County, place by place
| Rank | Place | Median household income |
|---|---|---|
| 17 | Yellow Bank Township | $71,042 (±$20,737) |
| 18 | Arena Township | $70,625 (±$13,690) |
| 19 | Dawson | $68,929 (±$10,378) |
| 20 | Hamlin Township | $68,125 (±$39,973) |
| 21 | Cerro Gordo Township | $67,778 (±$10,558) |
| 22 | Lake Shore Township | $61,250 (±$42,074) |
| 23 | Madison | $61,172 (±$6,359) |
| 24 | Boyd | $54,375 (±$24,333) |
| 25 | Louisburg | $51,250 (±$5,651) |
| 26 | Bellingham | $46,786 (±$7,384) |
| 27 | Marietta | $34,375 (±$19,453) |
Showing 11 of 27 places in Lac qui Parle County, ranked from highest to lowest.
Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.
Margins of error are at the 90% confidence level.
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Questions about Madison
What is the median household income in Madison?
The median household income in Madison is $61,172 (±$6,359) a year (2020–2024 American Community Survey).
How much do you need to make to afford rent in Madison?
About $33,500 a year, if rent is to stay at or below 30% of income at the median gross rent of $838 a month.
Have incomes in Madison kept up with inflation?
In Madison, the median household income went from $43,750 in 2015–2019 to $61,172 in 2020–2024 (+39.8%).
Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.
What do renters earn in Madison?
The median renting household in Madison, MN earns $31,667 (±$13,716) a year.
Sources
- Selected Economic Characteristics (DP03), 2020–2024 ACS 5-year estimates — Madison city, Minnesota
- Median Household Income by Tenure (B25119), 2020–2024 ACS 5-year estimates — Madison city, Minnesota
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Madison city, Minnesota
- Median Household Income (B19013), 2015–2019 ACS 5-year estimates — Madison city, Minnesota
- Median Gross Rent (B25064), 2015–2019 ACS 5-year estimates — Madison city, Minnesota
- Median Value (B25077), 2015–2019 ACS 5-year estimates — Madison city, Minnesota
- Consumer Price Index for All Urban Consumers (CPI-U), US city average, all items, US Bureau of Labor Statistics: annual averages 2019 and 2024
To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) and detailed tables (acs/acs5) for Madison city, Minnesota (place:39266, in state:27).
Each estimate (E or PE) has a margin of error beside it (M or PM).
The 2015–2019 figures are B19013_001E, B19013_001M, B25064_001E, B25064_001M, B25077_001E, B25077_001M from the 2019 release.
The API needs a free key.
DP03_0062E, DP03_0062M, B25119_003E, B25119_003M, B25119_002E, B25119_002M, DP04_0134E, DP04_0134M
This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.
Figures last updated on .
Related
- Housing in Madison at a glance
- Median rent in Madison
- Rent burden in Madison
- Renters and owners in Madison
- Home values in Madison
- Homeowner costs in Madison
- Property taxes in Madison
- Types of homes in Madison
- Bedrooms in Madison
- Age of homes in Madison
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- Commute and cars in Madison
- Population growth in Madison
- How long people stay in Madison
- Minnesota landlord and tenant rules
- Housing across Lac qui Parle County
- Minnesota places ranked by median household income
- Housing data for every place in Minnesota