Madison, NJ Real Estate
According to census data in the year 2000 there were 5,641 housing units in Madison.
This represents a 1.4% growth from 5,564 in 1990.
Of those housing units, 5,641 were located in either urbanized areas or urban clusters, and none were located in what is classified as a rural area.
Homeownership rate in Madison is about 67%.
Madison's vacancy rate, including seasonal lodging, is about 2.1%.
Average household size is 2.53 people.
The majority of houses, apartments or condos in Madison were built after 1953.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 0.80% |
| One Bedroom | 14% |
| Two Bedrooms | 22.50% |
| Three Bedrooms | 30.30% |
| Four Bedrooms | 23.10% |
| Five Bedrooms or more | 9.30% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.78 |
| Median year structure was built | 1953 |
| Median Value of occupied units | $362,400 |
| Median Price asked for vacant units | $350,000 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.02 |
| Median year structure was built | 1954 |
| Median Monthly Rent asked for vacant units | $900 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.70% |
| Second Mortgage | 6.40% |
| Home Equity Loan | 10.90% |
| Simple Mortgage | 51.70% |
| Debt Free | 30.40% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 19.9% |
