States › New Jersey › Madison Park

Is Madison Park, NJ expensive to live in?

OKRent takes 24 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,6864% lower than U.S. average
💵 Families earn per year (2026)$85,750about $7,146/month · 2% lower than U.S. average
🔑 House price$426,50028% higher than U.S. average

Rent is higher than in 52% of U.S. cities. A typical house costs about 5.0 years of household income. Commutes are long, about 31.6 minutes each way. Most households rent (67%), so there are plenty of rental options.

How much money do I need?

To rent here comfortably, you should earn about $67,440 a year. That is $32 an hour at a full-time job.

Is rent cheaper than other New Jersey cities?

Yes. Rent here is cheaper than in most of New Jersey. It is number 43 of 291 cities from cheapest to most expensive.

Madison Park
$1,686
Monmouth Junction
$2,308
Absecon
$2,970
Cresskill
$3,262
Caldwell
$3,049
Ventnor City
$1,564
Haledon
$2,328

How much do households earn in Madison Park?

Under $25k
17.7%
$25k–50k
15.5%
$50k–100k
36.9%
$100k–150k
18.3%
$150k+
10.9%

Share of households by yearly income. 29.1% of households earn $100,000 or more.

Rent by apartment size in Madison Park

SizeMadison ParkU.S. average
Studio$1,612$1,338
1 bedroom$1,572$1,324
2 bedrooms$1,814$1,509

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Madison Park overall?

Everyday prices in New Jersey overall are 9% above the U.S. average (index 108.8, U.S. = 100).

Housing
134
Goods (food, clothes…)
107
Utilities
114
Other services
104
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Madison Park, so the New Jersey figure is shown.

Taxes and bills in Madison Park

🏛️ Property tax$7,889a year · 1.85% of home value · U.S. $3,119
⚡ Electric bill$65a month (typical) · U.S. $156

Life in Madison Park

Commute to work31.6 minU.S.: 26.4 min
College degree30.8%U.S.: 35.7%
Own their home32.7%U.S.: 65.2%
Below poverty line13.4%U.S.: 12.5%
Unemployment11%U.S.: 5.2%

Is it cheaper to rent or buy in Madison Park?

Renting is cheaper right now: about $1,273 a month less.

Renting
$1,686
Owning
$2,959

Owning assumes a typical $426,500 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $42,650 for the down payment.

Frequently asked questions

What is the average rent in Madison Park, NJ?

Renting in Madison Park costs a median of about $1,686 a month in 2026, including utilities. The New Jersey median is $2,240.

How much do I need to make to live in Madison Park?

To keep rent under 30% of income, you need about $67,440 a year, or $32 an hour at a full-time job.

Is Madison Park cheap or expensive?

Madison Park is rated OK: rent takes 23.6% of the typical household income of $85,750. It ranks 43rd cheapest of 291 New Jersey cities we track.

How much are property taxes in Madison Park?

The median homeowner in Madison Park pays $7,889 a year in property taxes, about 1.85% of the median home value.

Is Madison Park more expensive than the national average?

Overall prices in New Jersey are 9% above the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Madison Park?

The median home value in Madison Park is $426,500, about 5.0 times the typical yearly household income.

9,124 people live in Madison Park. Numbers are typical (middle) values.