Madison Park Housing Information

IndexMadison ParkNew JerseyNational
Median home price$276,100$316,400$184,700
Median rent asked$1,145$1,213$949
Avg. people per household2.72.72.6
Owner occupied households28.8%64.1%63.6%
Renter occupied households71.2%35.9%36.4%
The above shows an overview of the real estate market in Madison Park, NJ. Note how the median home price for Madison Park, NJ runs $276,100, which is 13% lower than the average property price for New Jersey. So you’re going to get real estate in Madison Park, NJ that is on-average more affordable than what you’ll find in the rest of New Jersey. As for rent, the median for Madison Park, NJ runs $1,145, which is comparatively 6% lower than the average rent for New Jersey. For Madison Park, NJ, about 28.8% of the population consist of home owners with about 2.7 people living in each property on average. Whether you’re looking for condos or townhomes that are low-maintenance and affordable or sprawling mansions, Madison Park, NJ offers a wide variety of real estate. To find your perfect home in Madison Park, NJ, filter your choice by price, location, and number of beds and baths using the search area above.

Madison Park Home Affordability

When deciding where to purchase Madison Park, NJ real estate, home affordability is one of the top deciding factors. One way that you can calculate the affordability of your next home is to use this formula: median home price to median household income ratio. In Madison Park, NJ the median home price is $276,100 and $67,109 is the median household income. As a result, the home price to income ratio in Madison Park, NJ is 4.1x, which is 4% lower than the New Jersey average. In order to determine the home affordability ratio, you would divide the median home price by the median home income. If you find that in Madison Park, NJ the home price to income ratio is lower than average, that means that in general, housing is more affordable. While there more than just one factor in deciding home affordability, you can use the home affordability calculator below as an additional tool when deciding how much you can and should pay for real estate in Madison Park, NJ.

Nearby cities with low home prices

City, StatePopulationHome PriceNational Avg.
Zarephath, NJ8$0100%
Rossmoor, NJ2,904$90,60051%
Clearbrook Park, NJ3,114$155,00016%
Concordia, NJ3,156$166,50010%
Keansburg, NJ9,904$183,0001%
Madison Park, NJ6,800$276,10049%

Cities with similar population

City, StatePopulationHome PriceNational Avg.
Fort Myers Beach, FL6,801$367,80099%
Kirtland, OH6,802$271,40047%
Nevada, IA6,796$123,40033%
Piñon Hills, CA6,796$172,7006%
Mount Ivy, NY6,792$224,30021%
Madison Park, NJ6,800$276,10049%

Source: The Madison Park, NJ housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).
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