1st Advantage MortgageMadison County households have a median income of $63,037 and median rent of $939 a month (ACS 2020 to 2024). Whatever your own numbers, compare written offers on APR, fees and total cost, and verify the lender is licensed in Indiana before sharing details.
On this page
- Madison County by the numbers
- Income in Madison County compared with Indiana
- Jobs and commutes in Madison County
- Madison County housing compared with Indiana
- Cities, towns and CDPs in Madison County
- Madison County next to its neighbors
- Room for a loan payment in Madison County
- Who lives in Madison County, in numbers
- Borrowing situations common in Madison County
- Checking a lender's license in Indiana
- Four steps for Madison County borrowers
- Related local guides
- Frequently asked questions
Madison County by the numbers
With an estimated 131,900 residents (ACS 2020 to 2024), Madison County ranks 13th of 92 in Indiana for population. It covers 452 square miles of land, or about 292 people per square mile. For statistical purposes it belongs to the Indianapolis-Carmel-Greenwood, IN metro area, as delineated by the Office of Management and Budget in July 2023. Of the 15 Census places inside Madison County, Anderson leads by population with about 55,367; 15 of the 15 are incorporated.
Income in Madison County compared with Indiana
Half of Madison County households take in less than $63,037 a year and half take in more, 12% below the Indiana median of $71,957. In the state ranking that is 69th of 92.
| Band | Madison County | Compared with Indiana |
|---|---|---|
| Under $35,000 | 26.2% | +3.6 pts |
| $35,000 to $99,999 | 47.1% | +3.7 pts |
| $100,000 to $199,999 | 21.8% | -4.0 pts |
| $200,000 or more | 4.9% | -3.3 pts |
Some 26% of households here live on less than $35,000 a year; 27% have six-figure incomes. Census counts 13.4% of Madison County residents in poverty, against 12.3% across Indiana. Income inequality, measured by the Gini index, comes to 0.438 here. A household earning below the $63,037 median should test any payment carefully; one earning above it should still pick the shortest term it can manage.
Jobs and commutes in Madison County
The biggest employer of Madison County residents, by industry, is education and health care at 24% of workers, followed by manufacturing (15%). The survey's unemployment rate for Madison County averages 5.9% over 2020 to 2024 (state: 4.3%). Long commutes are common here: 18% of workers spend 45 minutes or longer getting to work. Households without a car make up 6.1% of the total (6.2% statewide).
| Top industries | Madison County share | +/- vs Indiana |
|---|---|---|
| Education and health care | 23.6% | +0.1 pts |
| Manufacturing | 15.0% | -3.0 pts |
| Retail trade | 12.0% | +1.2 pts |
| Arts, lodging and food service | 9.0% | +1.2 pts |
| Professional and administrative services | 8.4% | -0.8 pts |
| Construction | 8.0% | +1.4 pts |
If your hours swing with the season or with overtime, size a loan payment against your base pay, not your best month.
Madison County housing compared with Indiana
Median gross rent, utilities included, comes to $939 in Madison County versus $1,062 statewide. By the Census definition, 49% of Madison County renters are cost-burdened. The median owner-occupied home is valued at $161,300, about 2.6 times the median household income. Owners occupy 70% of homes. Half the housing stock was built before 1965.
| Cost | Madison County | Indiana figure | Median county, U.S. |
|---|---|---|---|
| Median gross rent | $939/mo | $1,062/mo | $877/mo |
| Median home value | $161,300 | $218,200 | $185,300 |
| Owners | 70% | 71% | 75% |
| Rent-burdened renters | 49% | 48% | 45% |
| Burdened owners | 19% | 20% | n/a |
Cities, towns and CDPs in Madison County
The table lists the 14 largest of 15 Census places in Madison County, by population. Together all 15 hold about 88,015 people, so roughly 33% of residents live outside any named place. Markleville has the highest median household income on the list ($89,167) and Anderson the lowest ($46,909), counting places with at least 500 residents. Median rent ranges from $760 in Summitville to $1,379 in Ingalls. One of them, Anderson, has a separate city guide (linked); for the rest, this is the local guide.
| Community | Type | Residents | Household income (median) | Rent (median) | Distance |
|---|---|---|---|---|---|
| Anderson | city | 55,367 | $46,909 | $925 | 6 mi |
| Elwood | city | 8,356 | $53,280 | $860 | 10 mi |
| Pendleton | town | 5,321 | $86,806 | $1,209 | 11 mi |
| Alexandria | city | 5,155 | $64,317 | $801 | 7 mi |
| Lapel | town | 2,668 | $79,778 | $1,318 | 11 mi |
| Ingalls | town | 2,512 | $74,236 | $1,379 | 15 mi |
| Chesterfield | town | 2,489 | $58,824 | $964 | 8 mi |
| Edgewood | town | 2,121 | $87,770 | $1,050 | 4 mi |
| Frankton | town | 1,658 | $68,611 | $1,186 | 5 mi |
| Summitville | town | 1,104 | $52,946 | $760 | 12 mi |
| Markleville | town | 739 | $89,167 | $1,080 | 14 mi |
| Orestes | town | 243 | $43,125 | $748 | 7 mi |
| Country Club Heights | town | 189 | $110,000 | n/a | 3 mi |
| Woodlawn Heights | town | 72 | $110,000 | n/a | 4 mi |
Madison County next to its neighbors
Six nearby counties, 18 to 24 miles away by the straight-line distance between their centers. 4 of the six report a higher median household income than Madison County; Hamilton County is highest at $121,530 and Grant County lowest at $53,522.
| Neighbor | Distance | Income | Rent | Own |
|---|---|---|---|---|
| Madison County | - | $63,037 | $939/mo | 70% |
| Delaware County, IN | 18 mi | $58,127 | $906/mo | 66% |
| Hamilton County, IN | 18 mi | $121,530 | $1,574/mo | 76% |
| Tipton County, IN | 20 mi | $76,156 | $842/mo | 81% |
| Henry County, IN | 24 mi | $63,150 | $820/mo | 76% |
| Hancock County, IN | 24 mi | $93,186 | $1,203/mo | 80% |
| Grant County, IN | 24 mi | $53,522 | $853/mo | 73% |
Room for a loan payment in Madison County
How much room does a median Madison County budget have? Take median income, subtract median rent, and check what is left under a few common debt-to-income limits.
- $63,037 a year is $5,253 of gross monthly income
- Less median rent of $939, which is 18% of it
- Under a 36% cap, $1,891 total minus rent leaves $952
Subtract what you already pay on other debts. A new payment should fit in what remains, with some to spare.
Who lives in Madison County, in numbers
Degree holders: 20% of adults over 25. The uninsured rate is 7.4%, against 7.4% for Indiana.
| Residents | Madison County | Indiana | Middle U.S. county |
|---|---|---|---|
| Median age | 40.9 | 38.1 | 41.5 |
| Bachelor's or higher | 20.5% | 29.5% | 22.2% |
| No high school diploma | 9.2% | 9.6% | n/a |
| No health insurance | 7.4% | 7.4% | 7.8% |
| No vehicle | 6.1% | 6.2% | 5.4% |
| Work from home | 10.4% | 10.7% | 8.7% |
| Poverty rate | 13.4% | 12.3% | 13.2% |
| Unemployment (ACS) | 5.9% | 4.3% | 4.4% |
| Commute length | Madison County |
|---|---|
| Under 15 min | 30.3% |
| 15 to 29 min | 30.8% |
| 30 to 44 min | 20.5% |
| 45 to 59 min | 10.2% |
| 60+ min | 8.1% |
Borrowing situations common in Madison County
Where the Madison County numbers stand out, and why it matters for a loan:
- Long drives. With 18% of commutes over 45 minutes, tires and repairs are fixed costs in many Madison County budgets.
- Rent squeeze. 49% of renters spend 30%+ of income on rent; borrow only if the loan cuts what you pay overall.
- Consolidating cards in Madison County. Compare the total repaid, not the monthly figure (how).
Checking a lender's license in Indiana
Licensing happens at the state level, so a lender working with Madison County borrowers answers to the Indiana Department of Financial Institutions. Banks and credit unions have their own regulators, and the CFPB takes complaints about any lender. See the Indiana state guide for the statewide picture.
Four steps for Madison County borrowers
Four checks before you sign anything:
- Borrow the amount the job needs; extra cash adds interest.
- Ask each lender for the APR and all fees in writing.
- A Indiana license check takes minutes; do it first.
- Read the final agreement; it must match the offer.
Related local guides
City guides inside Madison County, and the statewide guide:
Frequently asked questions
How much do households in Madison County earn?
The median is $63,037; 27% earn $100,000 or more and 26% under $35,000. A lender uses your own documented income, not this figure.
How does Madison County rent compare with Indiana?
$939 locally versus $1,062 for the state, 12% below.
I live in a small Madison County town. Is this my guide?
Yes. If your town has no city guide, this county page is the local one; it covers Anderson, Elwood, Pendleton, Alexandria, Lapel and 10 more.
Can Madison County residents use the questionnaire?
Yes. It asks the same questions in every Indiana county, lists every requirement up front and does not affect your credit score.
Who regulates personal lenders for Madison County residents?
The Indiana Department of Financial Institutions licenses consumer lenders in Indiana; the CFPB takes complaints about any lender, and the FTC wants to hear about fee-first offers.