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The total population of Madison is estimated to be 1,566 with 730 males (46.62%) and 836 females (53.38%). There are 106 more females than males in Madison.
The median household income in Madison was $49,204 in 2021, which marked an an increase of 1,046(2.17%) from $48,158 in 2020. This income is 65.95% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
Per the latest American Community Survey by the Census Bureau, Madison sees its highest median household income among householders in the age group of 25 to 44 years old, at $55,520. Overall, the median household income for the city of Madison stands at $49,204.
In Madison, the median income for all workers aged 15 years and older, regardless of work hours, was $41,885 for males and $22,327 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $55,827 for males and $38,372 for females.
In Madison, population is primarily represented by White households, reporting a median income of $49,655.
In 2022, the population of Madison was 1,504, a 0.66% decrease year-by-year from 2021. Previously, in 2021, Madison's population was 1,514, a decline of 0.00% compared to a population of 1,514 in 2020.
The median age in Madison, MN is 54.0, as per 2021 ACS 5-Year Estimates. Of the total population, 13.89% were under the age of 15, 13.42% aged 15 to 29, 35.87% aged 30 to 64, 26.50% aged 65 to 84, and 10.32% were 85 years of age and older.
Racial distribution of Madison population: 97.84% are White, 0.34% are Black or African American, 0.07% are American Indian and Alaska Native, 1.48% are Asian and 0.27% are multiracial.