Why Live in Madison
Madison, NJ, known as "Rose City," is a charming small city located 15 miles west of NYC. With a population of about 17,000 residents, Madison boasts a historic Main Street filled with local businesses, including Shanghai Jazz for live music and Asian cuisine, and The Chatham Bookseller for rare finds. The community spirit is evident through events like Bottle Hill Day, an annual fall festival featuring live music, street vendors, and family-friendly activities. Madison's school district is highly rated, with schools such as Kings Road School, Torey J. Sabatini School, Central Avenue School, Madison Junior School, and Madison High School providing quality education. The area offers various things to do, including visiting Memorial Park for its dog park, community pool, and ice rink, or exploring Giralda Farms Preserve for its trails. Madison's housing includes 1950s colonials, Victorians, and contemporary new constructions, with single-family lots larger than average. The city is commuter-friendly, with a direct train to NYC from its historic train station, and Newark Liberty International Airport is just a 30-minute drive away. Madison also hosts Drew University and Fairleigh Dickinson University, offering educational and cultural opportunities, including the Shakespeare Theatre of New Jersey. The Madison Public Library provides diverse programs for all ages. Despite its many offerings, Madison has a B plus rating for diversity according to Niche.
Frequently Asked Questions
What is the average home price in Madison, NJ?
Homes for sale in Madison, NJ have an average home price of $1,253,545.
How many homes have sold over the last 12 months in Madison, NJ?
10 homes have sold in Madison, NJ over the last 12 months.
What are the most popular zip codes in Madison, NJ?
How much do you need to make to afford a house in Madison?
The median home price in Madison is $1,175,000. If you put a 20% down payment of $235,000 and had a 30-year fixed mortgage with an interest rate of 6.74%, your estimated principal and interest payment would be $6,090 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $261K a year to afford the median home price in Madison.
How are the schools in Madison, NJ?
Home Trends in Madison, NJ
On average, homes in Madison, NJ sell after 21 days on the market compared to the national average of 70 days. The median sale price for homes in Madison, NJ over the last 12 months is $1,094,000, up 22% from the median home sale price over the previous 12 months.
Median Sale Price
$1,094,000
Median Single Family Sale Price
$1,199,000
Average Price Per Sq Ft
$578
Number of Homes for Sale
1
Last 12 months Home Sales
10
Median List Price
$1,175,000
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
22%