1st Advantage MortgageThe median Madison County household earns $58,531, and 12% of residents live below the poverty line. Whatever your own numbers, compare written offers on APR, fees and total cost, and verify the lender is licensed in North Carolina before sharing details.
On this page
- A quick profile of Madison County
- Madison County housing compared with North Carolina
- What Madison County households earn
- Employment and commuting in Madison County
- Places inside Madison County
- How Madison County compares with nearby counties
- A Madison County household budget, worked through
- Before borrowing in Madison County
- Who lives in Madison County, in numbers
- Four steps for Madison County borrowers
- Licensing and complaints for Madison County
- Related local guides
- Frequently asked questions
A quick profile of Madison County
Roughly 21,867 residents live in Madison County, North Carolina, 77th by population among the state's 100 counties and county equivalents. Spread over 450 square miles, that works out to roughly 48.6 residents per square mile. For statistical purposes it belongs to the Asheville, NC metro area, as delineated by the Office of Management and Budget in July 2023. Mars Hill is the biggest of its 3 Census places, at roughly 3,025 people (14% of the county total).
Madison County housing compared with North Carolina
Renters in Madison County pay a median of $780 a month, 36% below the North Carolina figure of $1,228. Rent takes 30% or more of income for 41% of renter households here. With a median value of $284,600, a typical Madison County house costs 4.9 times what the median household earns in a year. The ownership rate is 77%. Median construction year: 1987.
| Cost | Madison County | North Carolina figure | Median county, U.S. |
|---|---|---|---|
| Median gross rent | $780/mo | $1,228/mo | $877/mo |
| Median home value | $284,600 | $288,900 | $185,300 |
| Owners | 77% | 67% | 75% |
| Rent-burdened renters | 41% | 49% | 45% |
| Burdened owners | 34% | 25% | 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.
What Madison County households earn
Half of Madison County households take in less than $58,531 a year and half take in more, 19% below the North Carolina median of $72,388.
| Households earning | Madison County | +/- vs North Carolina |
|---|---|---|
| Under $35,000 | 32.5% | +9.2 pts |
| $35,000 to $99,999 | 41.8% | +0.3 pts |
| $100,000 to $199,999 | 19.6% | -5.4 pts |
| $200,000 or more | 6.1% | -4.2 pts |
The spread is wide: 26% of Madison County households make $100,000 or more, and 32% make less than $35,000. The poverty rate is 12.1%, 1 point lower than the state's 13.0%. The Gini index of income inequality is 0.502 (0 is perfect equality). For a borrower in Madison County, the county median is only context: a lender looks at the income you can document, so pay stubs, benefit letters or tax returns matter more than any average.
Employment and commuting in Madison County
Education and health care employs 24% of working residents, the largest share; retail trade is next with 17%. Compared with North Carolina, the county leans toward retail trade (17% against 11%). Averaged over the five survey years, 3.1% of the labor force was out of work and looking. 27% of commuters travel 45 minutes or more each way, and 11% work from home.
| Where residents work | Madison County | Difference from North Carolina |
|---|---|---|
| Education and health care | 23.6% | +1.1 pts |
| Retail trade | 17.0% | +5.9 pts |
| Construction | 10.0% | +2.6 pts |
| Professional and administrative services | 8.4% | -4.2 pts |
| Arts, lodging and food service | 7.1% | -1.3 pts |
| Public administration | 7.0% | +2.8 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.
Places inside Madison County
The table lists the 3 largest of 3 Census places in Madison County, by population. Together all 3 hold about 4,553 people, so roughly 79% of residents live outside any named place. Incomes vary by place: $81,429 at the median in Mars Hill, $44,688 in Hot Springs. 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 |
|---|---|---|---|---|---|
| Mars Hill | town | 3,025 | $81,429 | $1,043 | 10 mi |
| Marshall | town | 961 | $56,728 | $733 | 5 mi |
| Hot Springs | town | 567 | $44,688 | $521 | 7 mi |
How Madison County compares with nearby counties
Nearest neighbors first, measured between county centers (20 to 26 miles). Buncombe County leads the group on income ($74,436), Cocke County trails ($48,016), and Madison County out-earns 3 of the six. The list crosses into Tennessee, where different lending rules and regulators apply.
| County | Distance | Median income | Median rent | Owners |
|---|---|---|---|---|
| Madison County | - | $58,531 | $780/mo | 77% |
| Buncombe County, NC | 20 mi | $74,436 | $1,362/mo | 66% |
| Yancey County, NC | 23 mi | $58,709 | $882/mo | 79% |
| Cocke County, TN | 23 mi | $48,016 | $798/mo | 75% |
| Greene County, TN | 23 mi | $56,194 | $737/mo | 77% |
| Unicoi County, TN | 23 mi | $52,218 | $750/mo | 73% |
| Haywood County, NC | 26 mi | $61,912 | $1,067/mo | 75% |
A Madison County household budget, worked through
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.
- $4,878 a month: gross income for a household at the Madison County median
- Rent at the median, $780, takes 16% of that
- Under a 36% cap, $1,756 total minus rent leaves $976
Two-income households and single earners in Madison County land in very different places on this math, so run it for your own budget.
Before borrowing in Madison County
A few patterns in the Madison County data, and the practical point behind each:
- Vehicle repairs. 27% of Madison County workers commute 45+ minutes, so a breakdown can cost a paycheck. Get two written estimates.
- Repairs on manufactured housing. With 21% of homes here, compare a personal loan with any dealer or park repair program.
- Fraud. Gift cards, wire transfers or fees to unlock a loan mean walk away (report it).
Who lives in Madison County, in numbers
32% of Madison County adults 25 and older hold a bachelor's degree or more. 8.4% of residents have no health coverage.
| People and households | Madison County | North Carolina | Median county |
|---|---|---|---|
| Median age | 44.5 | 39.1 | 41.5 |
| Bachelor's or higher | 32.2% | 35.7% | 22.2% |
| No high school diploma | 9.5% | 9.9% | n/a |
| No health insurance | 8.4% | 9.9% | 7.8% |
| No vehicle | 4.5% | 5.3% | 5.4% |
| Work from home | 10.7% | 16.3% | 8.7% |
| Poverty rate | 12.1% | 13.0% | 13.2% |
| Unemployment (ACS) | 3.1% | 4.7% | 4.4% |
| Minutes to work | Madison County workers |
|---|---|
| Under 15 min | 22.0% |
| 15 to 29 min | 28.7% |
| 30 to 44 min | 22.3% |
| 45 to 59 min | 14.5% |
| 60+ min | 12.4% |
Four steps for Madison County borrowers
Four checks before you sign anything:
- Know the exact dollar figure you need before talking to a lender.
- Collect three written offers and compare APR and total repaid.
- Look the lender up with the state regulator first.
- Ask about early-payoff penalties.
Licensing and complaints for Madison County
Before sharing details with a lender, a Madison County resident can confirm its license with the North Carolina Office of the Commissioner of Banks. Federal complaints: consumerfinance.gov. See the North Carolina state guide for the statewide picture.
Related local guides
For statewide rules and data, see the North Carolina guide.
Frequently asked questions
What is the median household income in Madison County?
$58,531 a year in the 2020 to 2024 Census survey, versus $72,388 for North Carolina. It ranks 59th of 100 in the state.
What do renters pay in Madison County?
$780 a month at the median, about 16% of median household income.
What are the biggest places in Madison County?
By population: Mars Hill, Marshall, Hot Springs. The county has 3 Census places in all.
Will a Madison County address affect my match?
Beyond confirming North Carolina as your state, no. Your answers about amount, credit, income and payments are all that count.
Where can someone in Madison County check a lender's license?
With the North Carolina Office of the Commissioner of Banks. If a lender is unlicensed or asks for a fee before funding, walk away.