Are you ready to embark on a new adventure? Well, look no further than Madison, NJ! This charming borough nestled in Morris County is calling your name.
With its vibrant downtown, excellent schools, and proximity to New York City, Madison offers the perfect blend of small-town charm and big-city excitement.
Whether you’re a first-time buyer or looking for a high-end property, Madison’s real estate market has something for everyone.
So pack your bags, because Madison is waiting to welcome you with open arms.
Key Takeaways
- Madison, New Jersey is a small borough located in Morris County with a population of 16,274 and a size of 4.2 square miles.
- The borough is known for its vibrant downtown, three colleges, and unique small-town feel.
- Madison offers employment opportunities with major corporations like Pfizer and Prudential, making it appealing to young people from urban areas.
- The property market in Madison primarily caters to first-time buyers and high-end buyers, with a lack of inventory for move-up buyers.
Demographics
Madison, New Jersey has a diverse population with a racial composition of 81.64% White, 8.65% Two or more races, 5.27% Asian, and 2.32% Black or African American, among others. If you are considering moving to Madison, you can expect to live in a community that embraces diversity and multiculturalism.
The borough’s demographics highlight a blend of different races and ethnicities, creating a vibrant and inclusive atmosphere.
Moving to Madison means becoming part of a community that values and celebrates diversity. With a significant percentage of the population being White, Madison offers an inclusive environment where people from all backgrounds can feel welcome. The presence of individuals from different races and ethnicities contributes to the borough’s rich cultural tapestry and fosters a sense of unity among its residents.
In addition to the racial diversity, Madison’s population also includes a significant percentage of individuals identifying as Two or more races, Asian, and Black or African American. This diversity brings a wealth of experiences, traditions, and perspectives to the community, creating a dynamic and inclusive environment.
Embracing diversity is not only important for fostering a sense of belonging, but it also enriches the community by promoting cultural exchange and understanding. Moving to Madison means joining a community that values diversity and appreciates the unique contributions of each individual.
Overall, Madison’s diverse population reflects the borough’s commitment to inclusivity and acceptance. By moving to Madison, you can look forward to living in a community that celebrates the differences that make us all unique.
Cost of Living
The cost of living in this area is higher than the national average, with housing costs and child care expenses being particularly significant.
In Madison, New Jersey, the median home value is $712,500, which is higher than the national median of $204,900. The median price of a home built before 1939 is $719,700, while the median value of a home built in 2014 or later is $887,500. Additionally, 31.80% of occupied homes in Madison are rented, lower than the national renter rate of 36.2%. The typical renter in Madison spends $1,674 a month on housing, lower than the national median rent of $1,023. These housing costs reflect the affluent nature of the community, with the median household income in Madison being $133,125, which is 5.4 times the median home value.
Another significant expense in Madison is child care. The average annual cost of child care for two children (4-year-old and 8-year-old) in Madison is $19,603, which is higher than the average of $18,864 across all of New Jersey and the nationwide average of $15,853. Child care expenses can add thousands of dollars to the overall annual spending for families with children.
Despite the higher cost of living in Madison, many families are drawn to the area for its excellent school system and proximity to New York City. The employment opportunities with major corporations like Pfizer and Prudential also make it an appealing choice for young people from urban areas who are looking to start a family and need easy access to the city. While the cost of living may be higher, the benefits and opportunities in Madison make it a desirable place to live.
Economy and Business
Despite the higher cost of living, many families are drawn to the area for its excellent school system and proximity to New York City. Madison, NJ offers employment opportunities with major corporations such as Pfizer and Prudential, making it an appealing location for young people from urban areas who are looking to start a family and need easy access to the city. The borough’s median household income of $111,134 reflects its affluent community, and the median house value of $638,400 indicates the desirability of the area.
Madison has a robust dining scene with a variety of cuisines, ranging from authentic Indian cuisine at Begum Palace to phenomenal BBQ at Daddy Mattys BBQ. The town also offers unique shopping experiences, such as the Chatham Bookseller and New Leaf Consignment, where you can find rare books and sustainable merchandise. In addition, Madison has a thriving arts and culture scene, with attractions like the Museum of Early Trades & Crafts and the Shakespeare Theatre of NJ.
For those interested in outdoor activities, Madison’s scenic and architectural highlights include Victorian, Georgian, and Edwardian homes that can be explored on architectural tours. The town’s proximity to nature is also evident through Drew University’s campus, known as the ‘University in the Forest,’ which showcases beautiful Greek revival architecture.
If you’re looking for one-of-a-kind experiences, Madison offers activities like bowling at STRYXE, brain-exercising challenges at The Escape Room, and pottery wheel sessions at Mud Clay Studio. And if relaxation is what you seek, Beneath The Surface Spa offers massages and facials to help you unwind.
With its excellent school system, employment opportunities, diverse dining scene, and unique experiences, Madison, NJ is a place where families can thrive and enjoy the best of suburban living while still having access to the bustling city of New York.
Crime Rate
With a low crime rate and a focus on property crimes, Madison, NJ remains a safe and secure community for its residents. In 2019, there were only 71 crimes reported in Madison, which translates to an annual crime rate of 429 incidents per 100,000 people. When adjusted for population, Madison’s crime rate is significantly lower than the national average.
Madison stands out for its low crime rate compared to other cities. It is considered to have one of the lowest overall crime rates in the US, and its crime rate is 72% lower than the overall crime rate in New Jersey. This makes Madison an appealing place to live, especially for families looking for a safe and secure community.
When it comes to the types of crimes in Madison, property crimes are the most prevalent. Property crimes account for about 99% of all offenses in the borough. However, it’s important to note that property crimes in Madison are less prevalent compared to the national average. Larceny is the most common property crime reported, followed by burglary and motor vehicle theft.
In terms of specific numbers, there were 70 property crimes reported in Madison in 2019, which translates to a property crime rate of 423 incidents per 100,000 residents. This rate is lower than the national average, further highlighting Madison’s commitment to maintaining a safe environment for its residents.
When it comes to violent crimes, Madison has an exceptionally low rate. In 2019, there was only one reported violent crime, specifically an aggravated assault. This low incidence of violent crime contributes to the overall sense of safety and security in Madison.
Overall, with its low crime rate and focus on property crimes, Madison, NJ continues to provide a safe and secure community for its residents.
Education
If you’re considering a family-friendly community with excellent schools, you’ll be pleased to know that Madison, NJ offers top-rated public schools and a strong focus on education.
According to usnews.com, Madison High School is ranked 34th within New Jersey and #797 in National Rankings. With a total enrollment of 867 students and a student-teacher ratio of 12:1, Madison High School provides a conducive learning environment for students.
In addition to Madison High School, there are three elementary schools in the Madison Public School District: Torey J. Sabatini School, Central Avenue School, and Kings Road School. These schools have been recognized as top-rated public schools in the area.
Madison also boasts two universities, Fairleigh Dickinson University and Drew University, providing educational opportunities for higher learning.
The strong focus on education in Madison, NJ attracts families who prioritize their children’s academic success. The community’s commitment to education is evident in the high rankings and accolades received by the local schools. Parents can feel confident that their children will receive a quality education in Madison’s top-rated public schools. The low student-teacher ratio ensures personalized attention and support for each student.
Furthermore, Madison’s proximity to universities such as Fairleigh Dickinson and Drew University offers unique opportunities for students to engage with higher education institutions. This exposure can inspire and motivate students to pursue their academic goals.
Healthcare
You’ll be pleased to know that Madison, NJ offers a range of healthcare facilities, including hospitals and urgent care centers, to meet your medical needs.
One notable facility is the Atlantic Rehabilitation Institute, a state-of-the-art, 38-bed inpatient acute rehabilitation hospital. They specialize in the treatment and recovery of individuals who have experienced severe injuries or illnesses. The institute provides ongoing care and specialized treatment tailored to the individual needs of patients recovering from various conditions such as stroke, brain injury, neurological conditions, trauma, spinal cord injury, amputation, and orthopedic injury.
In addition to the Atlantic Rehabilitation Institute, Madison is home to three hospitals. The Atlantic Health System, located at 25 Main St, offers a range of healthcare and diagnostic services in one convenient location. Morristown Medical Center, located at 100 Madison Avenue, is a nationally-ranked regional medical center known for its expertise in cardiovascular medicine, orthopedics, and nursing. Goryeb Children’s Hospital, also located at 100 Madison Avenue, is a state-designated ‘Children’s Hospital’ with multiple pediatric specialties.
For urgent care needs, Madison has two centers available. The Atlantic Health System Urgent Care, located at 300 Madison Ave #6, provides a range of healthcare services and diagnostics. Madison Eyes, located at 311 Main St, specializes in eye exams and other eye care services.
With these healthcare facilities readily accessible, you can have peace of mind knowing that your healthcare needs will be met in Madison, NJ. Whether you require specialized rehabilitation, general medical care, or urgent care services, the healthcare options in this area are designed to provide quality care and support for your well-being.
Housing Market
The housing market in Madison, NJ offers a range of options for buyers and renters alike. Whether you’re looking to purchase a home or rent an apartment, there are opportunities available to suit your needs.
According to rentcafe.com, the average rent for an apartment in Madison is $2,625, with prices varying depending on factors such as location and size. If you’re interested in buying a home, the median home price in Madison was $735,000 in March 2023, according to realtor.com. The average home value in Madison is $837,419, making it an affluent community with higher housing costs compared to the national median.
When it comes to neighborhoods, Madison offers a mix of affordable and expensive options. Affordable neighborhoods include Westmorland, Nakoma, Hill Farms-University, and Vilas, while more expensive neighborhoods include Crestview/Glenfield, Fairwoods/Drew University, Borough Center/Ridgedale Park, and Madison South.
Overall, the housing market in Madison is considered above average, with a housing rank of C+ according to Niche. Whether you’re looking for a family home or a rental property, Madison has a variety of options to choose from.
Job Market
There are many job opportunities available in Madison, NJ’s thriving job market. According to AreaVibes, the unemployment rate in Madison is 29% lower than the national average. While I couldn’t find information on the current employment rate, it is clear that there are a variety of industries in the area.
Meat packing and the production of agriculture and dairy equipment have long been established industries in Madison. Additionally, manufacturing firms in the area produce items such as hospital equipment, advanced instrumentation, storage batteries, and air circulating fixtures.
The Labor Demand Occupations List highlights occupations expected to have the most openings in the future, indicating a high demand for workers in Madison. Some of the most common job groups in New Jersey include Other managers, Elementary & middle school teachers, and Retail salespersons. However, there are also high-paying job opportunities in Madison. Positions such as Finance Services Director, Vice President, Field Operations, and Chief Medical Officer offer lucrative salaries.
In terms of top employers in Madison, Century 21 Real Estate, Wyeth Biopharma, and Realogy are some of the leading companies in the area. Coldwell Banker Real Estate, Alpharma, and Drew University are also significant employers.
With such a diverse range of industries and job opportunities, Madison is an attractive destination for those seeking employment. Whether you are looking for a career in management, education, sales, or healthcare, Madison’s job market offers ample opportunities for growth and success.
Public Transportation
Now that you have explored the job market in Madison, NJ, let’s discuss the public transportation options available in the area. Madison offers several convenient ways to get around, whether you have a car or not.
- Train: Madison is served by NJ Transit’s Morristown Line, with the Madison Station located at 62 Kings Road. This train line provides easy access to neighboring towns and cities, making it a popular choice for commuters.
- Airport: If you’re traveling by air, the nearest airport is Newark Liberty International Airport (EWR), which is approximately 20 miles away from Madison. Other nearby airports include Morristown Municipal Airport (MMU) and Teterboro Airport (TEB), offering additional travel options.
- Car Rental: In case you need a car for short trips or exploring the surrounding areas, Enterprise Rent-A-Car is conveniently located at 128 Main St in Madison.
Getting around Madison without a car is also possible, thanks to various transportation alternatives:
- Taxis: Taxis are readily available in Madison, providing a convenient way to travel within the town and to nearby destinations.
- Buses: Madison is well-connected by bus routes, offering affordable and accessible transportation for residents and visitors.
- Ride-Sharing: Both Uber and Lyft operate in Madison, NJ, providing additional options for getting around town and beyond.
With these transportation options at your disposal, you can easily navigate Madison and its neighboring areas, whether you’re commuting to work, exploring the town’s attractions, or traveling to nearby cities.
Tax Rates
If you’re interested in property taxes, you’ll be pleased to know that the average property tax in Madison, NJ is $14,185. This average is based on the assessed value of homes in the town, which is $490,000. The tax rate in Madison is 2.91%.
Property taxes are an important consideration for anyone looking to move to a new area, as they can have a significant impact on your overall cost of living.
It’s worth noting that property taxes are just one component of the overall tax picture in Madison. In addition to property taxes, there are also other taxes and fees associated with living in the borough. These include sales tax, real estate tax, municipal utility tax, sewer tax, and water tax. There are also various fees for services like garbage collection, recycling, and water and sewer connections.
Understanding the tax rates and fees in Madison is essential for planning and budgeting purposes. It’s important to take into account not only the property tax rate but also the overall tax burden and fees associated with living in the borough.
Pros and Cons
When considering living in Madison, New Jersey, you’ll find that the pros include a high math proficiency at middle schools and a strong sense of community, while the cons include limited availability of affordable housing options and potential traffic congestion during peak commuting hours.
- High math proficiency at middle schools, ensuring a quality education for your children.
- Strong sense of community, fostering a welcoming and supportive environment.
- Limited availability of affordable housing options, which may make finding a suitable home challenging.
Living in Madison, New Jersey offers the benefit of high math proficiency at middle schools, ensuring that your children receive a quality education. The strong sense of community in the area creates a welcoming and supportive environment for both individuals and families. However, it’s important to note that Madison also has limited availability of affordable housing options, which may make finding a suitable home a challenge. Additionally, potential traffic congestion during peak commuting hours can be a disadvantage for those who rely on daily commuting.
Despite these drawbacks, Madison, New Jersey offers a vibrant community with excellent educational opportunities and a strong sense of togetherness.
Things to Do
Looking for activities to enjoy in the area? Check out the live jazz performances and delicious cuisine at Shanghai Jazz Restaurant & Bar in downtown Madison. This popular spot offers a unique experience for music lovers and food enthusiasts alike.
As you step inside, you’ll be greeted by the soulful sounds of live jazz music filling the air. Take a seat at one of the cozy tables and prepare to be serenaded by talented musicians who bring the stage to life. Let the smooth melodies and captivating rhythms transport you to a world of pure musical bliss.
While you immerse yourself in the vibrant jazz atmosphere, don’t forget to indulge in the delectable cuisine that Shanghai Jazz has to offer. From mouthwatering Asian dishes to creative fusion creations, their menu is a culinary adventure waiting to be explored. Savor the flavors of their signature dishes like the General Tso’s Chicken or the Szechuan Shrimp, each prepared with the finest ingredients and expert culinary craftsmanship. Pair your meal with a perfectly crafted cocktail or a glass of wine from their extensive selection, and elevate your dining experience to new heights.
Whether you’re looking for a memorable date night, a fun evening out with friends, or simply a place to unwind and enjoy good music and great food, Shanghai Jazz Restaurant & Bar is the place to be. With its lively ambiance, top-notch performances, and mouthwatering cuisine, it’s no wonder why this establishment has become a beloved staple in the downtown Madison community.
Bars and Restaurants
For a taste of authentic Italian cuisine, head over to Osteria Trevi, a highly rated restaurant in Madison that offers a variety of Italian dishes. Here are some reasons why you should give it a try:
- Delicious Pasta: Osteria Trevi is known for its mouthwatering pasta dishes. From classic favorites like spaghetti carbonara to unique creations like pumpkin ravioli, their pasta is cooked to perfection and bursting with flavor.
- Fresh Seafood: If you’re a seafood lover, you’re in for a treat at Osteria Trevi. They serve a selection of fresh seafood dishes, such as grilled octopus and linguine with clams. Each dish is made with high-quality ingredients and expertly prepared to bring out the natural flavors of the seafood.
- Warm and Cozy Atmosphere: Step into Osteria Trevi and you’ll instantly feel a warm and cozy ambiance. The restaurant is beautifully decorated with rustic Italian charm, creating a welcoming and intimate setting for your dining experience. Whether you’re celebrating a special occasion or simply enjoying a night out, the cozy atmosphere adds an extra touch of charm to your meal.
Best Neighborhoods to Live In
One of the most expensive neighborhoods in Madison, NJ is Borough Center / Ridgedale Park. However, specific details about this neighborhood are not available in the search results. Based on its reputation as one of the most expensive neighborhoods, it is safe to assume that Borough Center / Ridgedale Park offers a high standard of living and desirable amenities.
Living in Borough Center / Ridgedale Park would likely mean having access to top-notch schools, beautiful parks, and a close-knit community. With its vibrant downtown area and proximity to colleges like Drew University and Farleigh Dickinson University’s Florham campus, residents of this neighborhood can enjoy a unique small-town feel while still having access to various cultural and educational opportunities.
Although the search results do not provide specific details about the housing market in Borough Center / Ridgedale Park, it is reasonable to assume that the homes in this neighborhood are of high quality and come with a hefty price tag. With a median household income of $111,134 in Madison, it is clear that this neighborhood is geared towards affluent individuals and families.
While the lack of specific information about Borough Center / Ridgedale Park may leave you curious, it is clear that this neighborhood offers an exclusive and desirable living experience. Whether it’s the excellent schools, charming downtown area, or the proximity to major corporations like Pfizer and Prudential, moving to Borough Center / Ridgedale Park would likely be a smart choice for those looking for a high-end lifestyle in Madison, NJ.
Conclusion
So, you’re considering moving to Madison, New Jersey? Well, let me tell you, it’s a decision that could change your life.
With its vibrant downtown, excellent schools, and proximity to New York City, Madison offers the perfect blend of small-town charm and big-city convenience.
But that’s not all. There’s a whole world of adventure waiting for you in this picturesque borough, from its scenic beauty to its unique shopping experiences.
So, what are you waiting for? Take the plunge and discover the hidden gems of Madison. You won’t be disappointed.