Madison County, Indiana
Income Data
U.S. Census Bureau ACSAt a Glance
Economic Indicators
How Madison County Compares
Detailed Income Statistics
Income Advisory: Madison County
Income Verdict
Madison County has a median household income of $62,632 and per capita income of $33,425 — a gap of $29,207, suggesting a typical mix of dual-income and single-earner households.
Housing Affordability
With median gross rent at $926/month and a median household income of $62,632, rent consumes approximately 17.7% of monthly income — well within affordable thresholds.
Economic Context
With a median household income of $62,632, residents of Madison County likely face budget constraints in higher-cost regions but may find cost of living manageable locally. Per capita income of $33,425 is in line with national norms for individual earners.
Neighbor Context
Madison County earns approximately 8.8% below the Indiana state median household income of $68,681.
Data Story
About Household Income in Madison County, Indiana
Madison County trails national income standard
Madison County's median household income of $62,632 falls 16.2% below the national median of $74,755, indicating below-average earning power. Per capita income of $33,425 similarly lags US benchmarks, reflecting limited wealth across the county.
Below Indiana average, among lowest ranked
Madison County's median household income of $62,632 runs 8.9% below Indiana's state average of $68,681, placing it among the lower-earning counties statewide. This significant gap reflects economic challenges that constrain household finances.
Second-lowest income in regional group
Madison County's $62,632 income trails LaGrange County ($83,741) by 25% and falls below Kosciusko County ($73,922) by 15%. Only Knox County ($58,863) earns less in this regional comparison, indicating Madison faces real income headwinds.
Housing pressure on Madison County budgets
Madison County's rent-to-income ratio of 17.7% ranks among the highest in this analysis, with housing costs claiming a substantial share of household income. A median home value of $147,700 reflects affordability constraints tied to lower local incomes.
Protect and grow Madison County wealth
With household incomes 16% below the national average and housing costs consuming more income share, Madison County residents should prioritize emergency funds before investing. Once stable, even modest monthly contributions to retirement and education savings can build security over time.
Frequently Asked Questions
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Income Comparison Calculator
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Your income is above the Madison County median
County median: $62,632 per year
vs. County Median
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vs. State Average
-9%
vs. National Median
-16%
Income Adequacy
Your monthly income ($5,219) vs. median rent ($926/mo). A ratio of 3.3x or higher means rent is under 30% of income.
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Compare RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.