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Avg. RentAnnual Change
Studio - $2,475+16%
1 Bed - $3,060+1%
2 Beds - $4,700+84%
Last updated 1/30/2023

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Overview of Madison

Madison is a borough located in northeastern New Jersey, roughly 6 miles south of Parsippany and 12 miles west of Newark. Part of the Newark metropolitan area, the borough is positioned in the heart of Morris County, and Madison apartments for rent are excellent ways to join the nearly 16,000 people living here. 

Madison shares a border with five other municipalities: Florham Park and Chatham to the north and east and the townships of Chatham, Harding and Morris to the south and west. Residents enjoy easy access to a variety of transportation modes, including Morris and Essex Morristown Line trains that lead directly into New York City's Penn Station, approximately 15 miles east of the borough. Other transportation routes include State Routes 124 and 24 as well as local bus service.

Living in Madison, NJ

The earliest European settlers arrived to the area in the early 18th century. The borough wasn't named Madison until 1834, in honor of President James Madison. After the Civil War, the construction of railroads came to the town and it observed rapid growth and development. Industries began to grow and expand, and as they did so, people in the working class built up a residential community.

People of all ethnicities can be found in Madison apartments, as City Town Info revealed that the town's population is very diverse both in terms of cultural backgrounds as well as socio-economic classes.

Madison Work and Study

Apartments near Madison could be prime options for business professionals.  The borough of Madison website indicated that a majority of its citizens work outside of town borders. Madison's downtown area is known as its central business district, and the town notes that there is typically very little vacant commercial space in its downtown. Madison has also recently established a reputation for its high quality and large number of restaurants. City-Data information indicated that the most common industries in the Madison area are finance and insurance.

Drew University is an excellent choice for higher education institutions located in Madison, but students can also take advantage of opportunities at the nearby Seton Hall University, Union County College, Kean University and the County College of Morris. Drew University enrolls more than 2,700 students and offers bachelor's degrees in 29 different disciplines as well as degrees at the master's and doctorate levels.

Rentals in Madison, NJ and Cost of Living

According to data collected by the U.S. Census Bureau, Madison rentals have a vacancy rate of 3.6 percent, and median rent was valued at $1,453 as of 2010. Roughly 46.3 percent of all renters fall into the gross rent range of $1,500 or more, with more than 80 percent falling in the gross rent range of $1,000 to $1,500 or more. The data further indicated that approximately one-third of all renters reported spending 35 percent or more of their household income on gross rental costs.

City-Data information revealed that in March 2012, the cost of living in Madison was assigned a value of 121.2 points, which is 21.2 percent higher than the national average of 100 points.

Madison Attractions and Special Events

There are a number of notable and popular area attractions available to those living in apartments near Madison. People looking to indulge in a little of the local history can visit one of the many historical buildings, including the Faulkner House, Holloway Hall, the Madison House, the Wendel Hall and President's Hall. Another prime place to dive into history is at the Museum of Early Trades & Crafts, where an extensive collection is preserved and exhibited of the trades and crafts practiced in the early settlement of New Jersey.

People looking to experience the cultured side of Madison can visit The Shakespeare Theatre of New Jersey, one of the leading Shakespeare theaters in the country and one of 25 professional theaters in the state of New Jersey. This is also the only professional theater company that is dedicated to Shakespeare's canon and classic works.

Rent.com® can help you get settled in a Madison apartment. Look through our rental listings and find the perfect home for your needs.

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