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The total population of Madison is estimated to be 16,521 with 8,114 males (49.11%) and 8,407 females (50.89%). There are 293 more females than males in Madison.
The median household income in Madison was $164,673 in 2021, which marked an a decrease of 13,443(7.55%) from $178,116 in 2020. This income is 220.72% 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 $202,605. Overall, the median household income for the borough of Madison stands at $164,673.
In Madison, the median income for all workers aged 15 years and older, regardless of work hours, was $93,665 for males and $43,596 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $144,710 for males and $86,703 for females.
In Madison, there are just two different racial groups among households. Among these, Asian households report a median household income of $231,315, while White households have a median household income of $164,247.
In 2022, the population of Madison was 16,261, a 2.22% increase year-by-year from 2021. Previously, in 2021, Madison's population was 15,908, a decline of 5.88% compared to a population of 16,902 in 2020.
The median age in Madison, NJ is 39.8, as per 2021 ACS 5-Year Estimates. Of the total population, 18.73% were under the age of 15, 20.73% aged 15 to 29, 47.08% aged 30 to 64, 11.52% aged 65 to 84, and 1.94% were 85 years of age and older.
Racial distribution of Madison population: 81.64% are White, 2.32% are Black or African American, 5.27% are Asian, 0.04% are Native Hawaiian and other Pacific Islander, 2.08% are some other race and 8.65% are multiracial.