1st Advantage MortgageMadison County households have a median income of $48,485 and median rent of $874 a month (ACS 2020 to 2024). A loan makes sense only if its total cost beats your alternatives and the payment fits your budget. Check the lender's Florida license first.
On this page
- A quick profile of Madison County
- The Madison County job picture
- What Madison County households earn
- Madison County housing compared with Florida
- Counties near Madison County
- Madison County towns compared
- Debt-to-income at Madison County's medians
- Before borrowing in Madison County
- More Madison County figures
- Four steps for Madison County borrowers
- Who licenses lenders for Madison County residents
- Nearby and statewide guides
- Frequently asked questions
A quick profile of Madison County
The latest five-year Census estimate puts Madison County's population at 18,089; only 56 of Florida's 67 county-level areas are larger. Spread over 697 square miles, that works out to roughly 26.0 residents per square mile. It sits outside every metropolitan statistical area in the July 2023 OMB delineation. Of the 3 Census places inside Madison County, Madison leads by population with about 2,967; 3 of the 3 are incorporated.
The Madison County job picture
Education and health care employs 19% of working residents, the largest share; retail trade is next with 13%. Compared with Florida, the county leans toward public administration (10% against 4%). ACS puts five-year average unemployment at 5.8% in Madison County. Long commutes are common here: 22% of workers spend 45 minutes or longer getting to work. Only 6.7% of homes here go without a vehicle.
| Industry | Share of Madison County workers | vs Florida |
|---|---|---|
| Education and health care | 19.3% | -1.6 pts |
| Retail trade | 12.8% | +0.8 pts |
| Arts, lodging and food service | 10.7% | -0.2 pts |
| Public administration | 9.9% | +5.6 pts |
| Manufacturing | 7.9% | +2.6 pts |
| Construction | 7.3% | -0.9 pts |
Where long drives are the norm, a car repair is one of the most common surprise bills. A small repair fund can keep a breakdown from turning into a loan.
What Madison County households earn
Half of Madison County households take in less than $48,485 a year and half take in more, 35% below the Florida median of $74,568. That places it 65th among Florida's 67 county-level areas.
| Households earning | Madison County | +/- vs Florida |
|---|---|---|
| Under $35,000 | 40.1% | +17.7 pts |
| $35,000 to $99,999 | 45.0% | +4.0 pts |
| $100,000 to $199,999 | 12.8% | -12.8 pts |
| $200,000 or more | 2.1% | -8.9 pts |
About 40% of households earn under $35,000, while 15% clear $100,000. Census counts 21.0% of Madison County residents in poverty, against 12.6% across Florida. Income inequality, measured by the Gini index, comes to 0.439 here. Income from any regular source can count, including Social Security, pensions and disability benefits, as long as you can document it.
Madison County housing compared with Florida
Renters in Madison County pay a median of $874 a month, 48% below the Florida figure of $1,669. Rent takes 30% or more of income for 55% of renter households here. With a median value of $116,200, a typical Madison County house costs 2.4 times what the median household earns in a year. 73% of Madison County households own their home and 27% rent.
| Cost | Madison County | Florida figure | Median county, U.S. |
|---|---|---|---|
| Median gross rent | $874/mo | $1,669/mo | $877/mo |
| Median home value | $116,200 | $359,000 | $185,300 |
| Owners | 73% | 68% | 75% |
| Rent-burdened renters | 55% | 60% | 45% |
| Burdened owners | 34% | 35% | n/a |
In an owner-heavy county like Madison County, many borrowers can also choose a home equity loan or line of credit. Those can price lower but put the house on the line, so compare the two in writing; our personal loan vs. HELOC guide walks through it. Rent pressure is real here, so run any payment through the debt-to-income calculator before you apply.
Counties near Madison County
Nearest neighbors first, measured between county centers (27 to 35 miles). Jefferson County leads the group on income ($61,212), Brooks County trails ($46,807), and Madison County out-earns 1 of the six. Some neighbors are in Georgia. Lender licensing is state by state, so a loan for a Madison County resident follows Florida rules.
| Nearby county | Center to center | Household income | Gross rent | Owner-occupied |
|---|---|---|---|---|
| Madison County | - | $48,485 | $874/mo | 73% |
| Brooks County, GA | 27 mi | $46,807 | $809/mo | 72% |
| Jefferson County, FL | 27 mi | $61,212 | $898/mo | 76% |
| Lowndes County, GA | 29 mi | $58,541 | $1,052/mo | 57% |
| Hamilton County, FL | 31 mi | $50,144 | $724/mo | 80% |
| Suwannee County, FL | 34 mi | $56,658 | $884/mo | 75% |
| Taylor County, FL | 35 mi | $49,073 | $988/mo | 76% |
Madison County towns compared
Here are the 3 most populous of the county's 3 Census places, with income and rent from the same 2020 to 2024 survey. About 30% of Madison County residents live in one of the 3. Incomes vary by place: $70,125 at the median in Greenville, $30,673 in Madison. Median rent ranges from $682 in Greenville to $887 in Madison. No Madison County place has a separate guide yet; this county page serves all 3.
| Place | Type | Population | Median income | Median rent | From county center |
|---|---|---|---|---|---|
| Madison | city | 2,967 | $30,673 | $887 | 4 mi |
| Greenville | town | 1,650 | $70,125 | $682 | 10 mi |
| Lee | town | 835 | $46,264 | $773 | 10 mi |
Debt-to-income at Madison County's medians
Lenders compare monthly debt payments with gross monthly income, the debt-to-income ratio. For a Madison County household at the medians it works out like this; treat it as an illustration only.
- $4,040 a month: gross income for a household at the Madison County median
- Median rent: $874, or 22 cents of every gross dollar
- At 43%, room after rent is $863 a month
Subtract what you already pay on other debts. A new payment should fit in what remains, with some to spare.
Before borrowing in Madison County
The county's numbers point to a few situations that come up often for Madison County borrowers.
- Health costs. With 12% of the county uninsured, an interest-free hospital payment plan usually beats a loan (medical bills).
- Vehicle repairs. 22% of Madison County workers commute 45+ minutes, so a breakdown can cost a paycheck. Get two written estimates.
- Mobile home upkeep. 34% of units fall in this category; roof, skirting and HVAC jobs are common reasons to borrow.
- Free help first. 21% of residents live below the poverty line; utility, rent and food programs cost nothing to repay (free options).
More Madison County figures
14% of Madison County adults 25 and older hold a bachelor's degree or more. 12.3% of residents have no health coverage.
| Residents | Madison County | Florida | Middle U.S. county |
|---|---|---|---|
| Median age | 44.8 | 42.6 | 41.5 |
| Bachelor's or higher | 13.9% | 34.1% | 22.2% |
| No high school diploma | 19.9% | 10.1% | n/a |
| No health insurance | 12.3% | 11.5% | 7.8% |
| No vehicle | 6.7% | 6.0% | 5.4% |
| Work from home | 4.7% | 15.7% | 8.7% |
| Poverty rate | 21.0% | 12.6% | 13.2% |
| Unemployment (ACS) | 5.8% | 4.8% | 4.4% |
| One-way commute | Share of Madison County workers |
|---|---|
| Under 15 min | 25.8% |
| 15 to 29 min | 37.2% |
| 30 to 44 min | 15.2% |
| 45 to 59 min | 7.7% |
| 60+ min | 14.1% |
Four steps for Madison County borrowers
Steps that save money for Madison County residents:
- Price the Madison County expense first and borrow that amount, no more.
- Prequalify with soft pulls where offered, then compare in writing.
- A Florida license check takes minutes; do it first.
- Ask about early-payoff penalties.
Who licenses lenders for Madison County residents
Licensing happens at the state level, so a lender working with Madison County borrowers answers to the Florida Office of Financial Regulation. Problems with a lender can also go to the CFPB. The Florida guide covers state rules in more detail.
Nearby and statewide guides
The Florida guide covers the whole state.
Frequently asked questions
What is the median household income in Madison County?
$48,485 a year in the 2020 to 2024 Census survey, versus $74,568 for Florida. It ranks 65th of 67 in the state.
How much is rent in Madison County?
Median gross rent, utilities included, is $874 a month; 55% of renters spend 30% or more of income on it.
Which towns does the Madison County guide cover?
Every community in the county, unincorporated areas included. The largest of its 3 Census places: Madison, Greenville, Lee.
Are Madison County applicants treated differently?
No. Everyone answers the same questions and is screened on the same objective points; lending partners set their own criteria under fair-lending laws.
Is there a Madison County office that licenses lenders?
No, licensing is statewide. In Florida it is the Florida Office of Financial Regulation.