What is the median rent in Madison Borough, NJ?

Name: Median rent in Madison Borough, NJ, 2020–2024
Creator: US Census Bureau
License: https://www.census.gov/data/developers/about/terms-of-service.html

The median gross rent in Madison Borough, NJ is $2,253 (±$120) a month, according to the US Census Bureau’s 2020–2024 American Community Survey.

That is across 1,988 rented homes; gross rent is the contract rent plus the utilities and fuels a renter pays separately.

In Madison Borough, the median gross rent went from $1,807 in 2015–2019 to $2,253 in 2020–2024 (+24.7%).

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 November 12, 2026.

Median gross rent: $2,253 (±$120)
Rented homes: 1,988 (±234)
$2,000 or more: 63.2%
Since 2015–2019: +24.7%

How much rent costs in Madison Borough

Share of rented homes in each gross-rent range, 2020–2024
Monthly gross rent	Madison Borough	Morris County	New Jersey	United States
Less than $500	2.7% (±2.6 points)	4.1%	6.1%	6.3%
$500 to $999	4.4% (±2.5 points)	3.9%	7.9%	20.2%
$1,000 to $1,499	3.7% (±1.8 points)	17.5%	23.5%	28.1%
$1,500 to $1,999	26.0% (±7.3 points)	30.3%	28.5%	21.1%
$2,000 to $2,499	26.2% (±7.2 points)	17.6%	17.2%	12.0%
$2,500 to $2,999	13.7% (±4.5 points)	13.0%	7.9%	5.5%
$3,000 or more	23.3% (±6.5 points)	13.6%	8.9%	6.8%

The most common range is $2,000 to $2,499, paid by 26.2% of renting households.

63.2% of rented homes in Madison Borough cost $2,000 or more a month.

Madison Borough against Morris County, its state and the nation

Estimate (90% margin of error)
	Madison Borough	Morris County	New Jersey	United States
Median gross rent	$2,253 (±$120)	$1,904 (±$30)	$1,720 (±$7)	$1,413
Rented homes paying rent	1,988 (±234)	48,017 (±1,617)	1,230,839 (±7,912)	42,849,984

In Madison Borough, median gross rent is higher than in Morris County ($1,904).

It is also higher than in New Jersey ($1,720).

It is higher than the national figure ($1,413).

In Morris County, Madison Borough ranks 20 of 39 places with a published estimate, from highest to lowest median gross rent.

Statewide, it ranks 94 of 548.

Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.

How rent in Madison Borough has changed since 2015–2019

2015–2019 and 2020–2024 American Community Survey 5-year estimates
	2015–2019	2020–2024	Amount of change	Verdict
Median gross rent	$1,807 (±$110)	$2,253 (±$120)	+24.7%	No measurable change after inflation
Households that rent	32.4% (±2.9 points)	36.2% (±3.6 points)	+3.8 percentage points	Not a measurable change
Rental vacancy rate	0.0% (±1.9 points)	1.9% (±2.4 points)	+1.9 percentage points	Not a measurable change

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 gross rent in places near Madison Borough

Nearest places with a published estimate, compared with Madison Borough
Place	Distance	Median gross rent	Compared with this place
Madison Borough	—	$2,253 (±$120)	—
Florham Park Borough	1.7 mi	$3,109 (±$364)	Higher
Chatham Borough	2.1 mi	$2,250 (±$139)	Not measurably different
Green Village	2.2 mi	$2,782 (±$120)	Higher
Chatham Township	2.6 mi	$2,769 (±$144)	Higher
Summit	4.0 mi	$2,430 (±$210)	Not measurably different
Morristown Town	4.1 mi	$2,274 (±$125)	Not measurably different
New Providence Borough	4.1 mi	$1,903 (±$119)	Lower
Harding Township	4.3 mi	$2,917 (±$2,565)	Not measurably different

Nearby places with a measurably lower figure: New Providence Borough, NJ ($1,903).

Nearby places with a measurably higher figure: Florham Park Borough, NJ ($3,109), Green Village, NJ ($2,782), Chatham Township, NJ ($2,769).

Distance is measured in a straight line between the Census Bureau’s internal points for each place.

Median gross rent across Morris County, place by place

Rank	Place	Median gross rent
14	Mount Arlington Borough	$2,392 (±$197)
15	Montville Township	$2,372 (±$202)
16	Long Hill Township	$2,329 (±$1,480)
17	Rockaway Township	$2,315 (±$379)
18	Kinnelon Borough	$2,282 (±$277)
19	Morristown Town	$2,274 (±$125)
20	Madison Borough	$2,253 (±$120)
21	Chatham Borough	$2,250 (±$139)
22	Roxbury Township	$1,983 (±$198)
23	Boonton Township	$1,870 (±$547)
24	Lincoln Park Borough	$1,857 (±$107)
25	Boonton Town	$1,849 (±$115)
26	Dover Town	$1,825 (±$163)

Showing 13 of 39 places in Morris 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 Borough

What is the average rent in Madison Borough, NJ?

The Census Bureau publishes the median rather than the average: the median gross rent in Madison Borough is $2,253 (±$120) a month (2020–2024 American Community Survey), so half of renting households pay less and half pay more.

How much has rent gone up in Madison Borough?

In Madison Borough, the median gross rent went from $1,807 in 2015–2019 to $2,253 in 2020–2024 (+24.7%).

Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.

How many rentals in Madison Borough cost more than $2,000 a month?

63.2% of rented homes in Madison Borough have a gross rent of $2,000 or more a month, and 2.7% cost less than $500.

Is rent in Madison Borough higher than in Morris County?

In Madison Borough, median gross rent is higher than in Morris County ($1,904).

It is also higher than in New Jersey ($1,720).

It is higher than the national figure ($1,413).

Is this the rent for an apartment listed today?

No: these are rents households reported paying across 2020–2024, not asking rents for vacant homes, which usually run higher.

Sources

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) for Madison borough, Morris County, New Jersey (county subdivision:42510, in state:34 county:027).

Each estimate (E or PE) has a margin of error beside it (M or PM).

The 2015–2019 figures are B25064_001E, B25064_001M, DP04_0047PE, DP04_0047PM, DP04_0005E, DP04_0005M from the 2019 release.

The API needs a free key.

Request a Census API key.

DP04_0134E, DP04_0134M, DP04_0126E, DP04_0126M, DP04_0127PE, DP04_0127PM, DP04_0128PE, DP04_0128PM, DP04_0129PE, DP04_0129PM, DP04_0130PE, DP04_0130PM, DP04_0131PE, DP04_0131PM, DP04_0132PE, DP04_0132PM, DP04_0133PE, DP04_0133PM

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.